Page 55 - Book10E

CHAPTER 7
Financial Planning
for Retirement
Whether you like it or not, the truth is: planning for retirement is critical. The future is unpredictable, and illness and disability that sometimes accompany old age can be costly. And whether you believe it or not, planning for retirement can be fun. Part of that fun is watch- ing the dollars add up as you stick to your savings plan. While plan- ning for retirement has been discussed in other portions of this FFEF series, in this volume we have gathered all the information together and expanded on what you need to know to
make life after 65 worth waiting for. If you have questions that aren’t answered here, talk to your FFEF counselor and he or she can offer suggestions of where to go to find the answers you need.
What Should I Expect When I Retire?
The picture of retirement is changing rapidly. It’s no longer considered a time when life as you knew it stops. Many people who are currently in their 70s and 80s dreaded the idea of retirement. It felt like being “put out to pasture.” Many felt it signified a time in life when their personal value was diminished. They felt forced to retire to make way for younger employees who were more “in tune” with the world.
The baby boomer generation is painting a different picture. Many peo- ple approaching 65 start a new career or start their own business. They
I have enough money to last me the rest of my life... unless I buy something.
—Jackie Mason
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