How do you know if you’re on track to meet your financial goals if you do not know your present situation? I’m sure you’re familiar with the phrase “going from point A to point B”, but most of us will need to pack our bags before we map our course so that we are prepared for the trip and are ready when we arrive.
I've heard countless clients tell me how they 'failed' at retirement. They enjoyed it for the first three weeks or even three months, then yearned to return to work. They were not ready for it. In some instances, I take blame for this as I did not adequately prepare them for this new freedom. The freedom to do what they wanted, when they wanted. The successful ones were ready for this new way of life, as they had already practiced via a trial run what they were going to do. The unsuccessful ones didn’t. They did not plan.
To increase your odds of a successful retirement, here are a few things to keep in mind as you contemplate this new way of life: