Freedom Friday: 9 New Year’s Resolutions for the Nearly Retired

Four colored price stickers on the worn wooden backgroundIn the Market Watch article, 9 New Year’s Resolutions for the Nearly Retired, author Alessandra Malito suggests that if you are planning to retire in 2018, there are some important resolutions you should make now:

Make a plan for what to do with your free time before you retire. To avoid boredom in retirement, start planning seriously for what all that newfound time will mean for you. Consider devoting more time to a hobby, joining a social club, or taking on volunteer work, for example. Liz Revenko, senior financial planner at Mosaic Financial Planning in Berkeley, Calif., suggests mapping out a standard week in retirement – write out what your seven days, morning through night, will look like, adding activities you enjoy and people you like being with. ‘Resolve to plant seeds now to step into a vibrant retirement, rich with purpose and choice,’ she said.

Practice that lifestyle before retiring. If you’re still working and can’t take a few months off to pretend you’re in retirement, use accumulated vacation or sick time to do nothing but stay in your town, said Andrew Houte, director of retirement planning at Next Level Planning and Wealth Management in Brookfield, Wis. Don’t go on vacation or travel. ‘Get a sense of how retirement might look and feel,’ he said. ‘If you’re married, what’s that dynamic like when you’re both home for extended periods of time together?’ Alternatively, if you plan to move in retirement, you may want to take that vacation – but go to your potential new city during its off-season, such as a beach town during its less busy season or ski area in the summer.

Add a ‘just-in-case’ bucket to your budget. When planning for regular expenses, such as groceries, gas and utilities, rent or mortgage payments, and an emergency fund, don’t forget to include an extra bucket specifically for ‘just-in-case’ situations, said Todd Minear, a financial adviser and founder of Open Road Wealth in Kansas City, Mo. It should be about 10% to 20% above all other planned expenses, and would include unexpected desires, such as a bathroom remodel, new carpet or ‘bucket list’ items.”

Read more at 9 New Year’s Resolutions for the Nearly Retired.


DAYNA WILSON: As a real estate agent I have been working with homebuyers and sellers throughout the East Bay communities of Layfayette, Moraga, Orinda and Walnut Creek since 2009. As a Certified Senior Housing Professional (CSHP) , I have special knowledge about everything from reverse mortgages to the importance of universal design. I can tap into my network and put you in touch with my team of qualified home inspectors, movers, attorneys, CPAs, organizers and other experts. I have all the resources and knowledge to simplify the transaction and eliminate the anxiety of selling your home.

Call me today to talk about your real estate concerns. I’m here to listen: 925.788.6582

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