Fear Free Retirement: Enjoy Financial Peace of Mind

Is it possible to achieve financial peace of mind while pursuing dreams of with my clients to achieve their goals – the ability to live worry-free in retirement. With retirement comes freedom -- the freedom to enjoy living at your chosen pace .
Table of contents

Recent Price Drop Peace of Mind Is a Piece of Cake Description Physical Features Financial security during retirement is no guarantee In fact Outliving Your Money is the 1 fear among retirees Not far behind are the fears of Losing Principal High Health Care Costs and Higher Taxes Most people including many financial advisors do not know that each of these fears can be replaced.

Mastering Business Planning and Strategy: Your beauty guide for brows, eyes, skin, lips and more Grades 1 - 8 Giants of Rock Discover how to create a Retirement Umbrella in this practical book, featuring: So start reading today: Read more Read less. Thousands of books are eligible, including current and former best sellers.

Look for the Kindle MatchBook icon on print and Kindle book detail pages of qualifying books. Print edition must be purchased new and sold by Amazon. Gifting of the Kindle edition at the Kindle MatchBook price is not available. Learn more about Kindle MatchBook. Kindle Cloud Reader Read instantly in your browser. Product details File Size: Expert Press; 1 edition August 16, Publication Date: August 16, Sold by: Related Video Shorts 0 Upload your video. Share your thoughts with other customers. Write a customer review. There was a problem filtering reviews right now.

Please try again later. Kindle Edition Verified Purchase. In today's uncertain world, saving for retirement can be and is a major headache for most people. Whether you are just starting out or closing in on retirement, Kevin Bard can help navigate through the financial swamps so the "retirement alligators" do not devour your savings. Planning for your retirement now can stop the "retirement alligators" in their tracks. What were your premiums? That is obviously not subsidized.

We made double our income a few years ago and it has been decreasing since We sell retail on the internet and have been in business for 8 years. It is getting increasingly harder to compete online with large companies that have smaller profit margins and better buying power. Increasing our income with another business is the next step. We strive to reach retirement, but then what happens?

We plan ahead in terms of investing and making money, but we can also plan ahead to get an idea of how much money we expect to need in retirement. Things will adjust, yes, lifestyles will be different. Hey Sam — thanks for the ER booster shot this morning! Both of these part-time gigs are by choice and it is fun to try some new things, while padding the bank account. It is just work turning things down! We are also doing things like you mentioned, including updating our rental units and increasing rents. I can always find work — and I think I would actually enjoy some different jobs if I needed to take them.

Just give it a go and do what you want to do — especially as you transition out of full-time work! But if you love your job, you would never mock anybody for no longer being employed! Great article Sam and good reply to Vicki. I actually wish them well. But I do wonder why many ER folks have to vilify the corporate world. A full time job defines and structures their life, which unlike the disciplined ER folks, would otherwise make many become lazy slobs on the couch.

I was commenting to another poster who was also doing some consulting and had found that she was struggling with even that level of commitment now that she was FI similar to me. However both are now working about 30 hours a week at jobs for less than half of what they were previously making. If anyone has done something similar I would be curious to hear the reasoning. I guess the question is if they are working 30 hours a week at low-paying jobs because they have to, or because they want to.

You would only do so sometime down the road if you miscalculated how much you needed in retirement. My point is the title of the article: Boredom and a desire for human action and purpose have a lot to do with working lower income jobs in retirement. Fun way to practice pitching FS too! The job was stressful because: Then I graduated college and started the job search, and after a month on not getting anything I decided I could use some spending cash and went to work as a stockman at K-mart, picking up weekends and some weeknights leaving time to set up and continue interviewing.

I went in, punched a clock, hunted down a manager, asked him what he needed done, and did it. I was actually working more part time hours than before but it was a breeze. What is your current net worth? The last post indicated your portfolio is sitting at 1. Is that your entire net worth? How come you expect such a drastic increase in such a low-interest environment? Sam has a significant real estate portfolio as well. He also has bonds, CDs, and some private equity investments. Thanks for reading my previous post. Actually, the conclusion from that analysis is that the retirement planner is too aggressive based on my investment allocation.

Therefore, I need to be more conservative in spending compared to what the retirement planner says. It will be following a passion that just happens to pay me. If you want a writing gig, let me know! I just got another consulting opportunity and one of my tasks is to hire a team of writers for this insurance company.

I just tetired from being an Occupational Therapist. I came about your articl while pondering what to do with my time. I am 55 with a small pension due to IMRf. I was tired after 24 years of public school nonsense! I was thinking of the starting a blog writing about quirky things such as supporting my hubby at home full time by mowing and gardening and cooking mote which I.

If you could use my insights I am here! Give me an assigned task. I may also be interested in buying cheap realstate for possible rental income. Your Auto insurance costs should come down much — but you gotta make the call and explain. There are many states allow you to brew your own beer too. Write a book — or e-book with your experiences. Fear is a funny phenomenon. As you said, most people just need a reminder that they are stronger than they think. My aunt and uncle are FI and then some!

My uncle retired several years ago, but my aunt, a pre-school teacher, is just now proceeding with retirement, and she is 70! Why did she choose to work so long? I can only assume that fear was a big part of the equation. I have learned a lot about how NOT to retire from watching them and evaluating their example. In my opinion, that is no way to live. Further, not many people will then write about their firsthand experiences.

Most retirement articles are written by people who have never retired and still need to work! I know a woman who was a teacher who retired, missed being around all the kids, and went back for additional years. Not everyone hates their job. I plan to have an active retirement or at least a semi-active one. I think that can help a lot with mental health. I watched it happen for years and was frustrated by it, but then I learned that most of likability is under my control.

I made it work, established passive income and learned a lot outside my field. Found out how boring not working was and went back to work. The year without work, I lived well without spending much money. Ate out 2 or 3 times a week. Took 3 hour walks. Had enough entertainment internet is truly amazing.

And caught up with friends. Today will be at a 5-star steakhouse. Tell me more about this respect thing you mention. Why did you feel you got less? Who is respecting you more now that you have a job? I think the desire for respect is a very interesting subject to delve into. From my perspective, the lack of respect might have been more empathy from people who saw me as unemployed and wanted to help me get a job again. I always had to explain that I was off on a new adventure to travel, write, and build my site.

Most probably saw my explanation as a euphemism for being unemployed, which is normal. You have a lot of respect now. You run one of the top personal finance websites, which is an awesome accomplishment. But for every website like yours, there are hundreds more in obscurity. And if you remained in finance, as a managing director, you would have been stressed out for sure.

But since you would have been high up in a very hierarchical system, you would have the respect of everyone from the interns to VPs. After I quit, did I get less respect? I am in a very hierarchical industry as well, with a profession that identifies who I am. For me, the respect is a very small benefit.

But once I hit 30 I felt that I had earned enough respect. Now think back to high school, where prestige and recognition matter so much. As you get older, you stop caring imo. I really think the feeling of respect is more state of mind.

You just hang out with people who you like to hang out with who treat you well like you would treat them. Perhaps it is the ability to choose who you hang out with and work with that is one of the best benefits of being financially independent.

Kindle Feature Spotlight

The powerful need to be respected by others, is based in insecurity or lack of self respect. If you respect yourself and have confidence in who you are and that you have value without the need to be propped up by others admiration, then you are free to run your own life. The amount of money you have is irrelevant at that point. Alex, Thank you for sharing an important perspective that I also believe in. Respect and meaningful work, even considering at times stressful projects and sometimes frustrating meetings, are overall good reasons to remaining employed.

Another great post, Sam. As a fellow something early retiree, I agree with you about reality v. We have spent far below our sustainable budgets in retirement. My wife and I have even had conversations about how we could increase our spending — Is there some extra thing or service we could buy to make life even better? The psychological side of ER is nevertheless daunting at times. To go from building, building, building wealth and watching those numbers jump every month to suddenly not… No matter how certain the math is, that old lizard brain is a powerful tangle of fearfulness waiting for the bottom to fall out.

Similar Products

My belief about combating the lizard brain: As you say, find something you love to do. Or maybe lots of them. And do them with the same vigor as your pre-retirement work. I made it a mission once I retired in to make enough passive income to never drawn down principal. So far, so good. That would be a crying shame. The statistics are undeniable: In virtually all cases, the portfolio grew in nominal value, and it usually grew in real value over the 50 year term.

The effect of low interest rates is unimportant as long as the portfolio carries minimal cash and bond exposure.

The Fear Of Running Out Of Money In Retirement Is Overblown

Which, yes, are an absolute crying shame. Thank you for sharing your experience with us. This is a great article for early retirees like myself. Today is day 4 of my early retirement. My retirement came earlier than I planned out vs. However, I planned my early retirement and conservatively studied our incomes and expenses many times. My wife and I plan to move to Mexico within a few months.

We plan to attend a culinary school for 2 or 3 years in Mexico and then will see what will be next for us. You will also be amazed how little money you need once you retire, assuming you get everything in order. I explored that in detail here: One final note from someone who works at a car company. Most cars can easily go , , or even miles between oil changes these days, thanks to more precise manufacturing and high-tech synthetic oil.

I am not retired yet, but I plan on retiring with perhaps even a little less than I need. I feel the added uncertainty might keep me motivated during retirement. Your Money or Your Life says the same thing — and lists lots of ways you will spend less in retirement many of which you mention above. I took into account many issues like driving less less gas, etc. And the answer is: I think the key is adaptation.

If you can adapt, you will be fine. Early retirees saved a lot and we always keep our eyes open for opportunities. If our retirement fund start to run low, I would work harder for a few years. The main problem is that people expects to maintain exactly the same lifestyle after they retire. Most of us will have to make some changes after we retire.

Adaption is key indeed. Some sacrifices do need to be made early on. I adore my job and voluntarily work hours a week on average paid overtime is a great salve but am still actively drooling over retirement.

The Fear Of Running Out Of Money In Retirement Is Overblown

My basic plan is based off the old s tripod. Own a home, have a pension, and savings fortunately I have a job that still offers a defined benefit and plan on utilizing it! Thanks for the reminder, Sam! Chances are, that enthusiasm will fade over time. Wow, that sounds promising! The world is smaller, cheaper, and more accessible now.

We can leave early and earn money doing what we love to make up for the income gap.

I think I am probably saving too much out of fear of running out of money in retirement. But it is always good to have more money than you can spend. I want to point out that once you retire, you are likely in a lower tax bracket, especially if your main source of income consists of investment income. So tax expenses will be lower when you retire too.