I Know “How Much I Need,??? for Retirement but Do I Know “What I Need The Money For?"
Answer: A Non-Financial Retirement Plan will look at your retirement lifestyle which will prompt questions such as:
Will you still need/want to work?
Where will you live?
What will you do with your time?
Who Will be Impacted by my Retirement? And Are They Prepared?
Answer: With the number of people divorcing after the age of 50, doubling since 1990, you have to question if your relationship will survive your retirement. With that, it’s important to make a list of people (spouse/partner, parents, children, etc.) that could be impacted by your retirement. It’s best to be over-prepared than under.
While you may have figured out “how much" you’ll need for your retirement, you should probably question where your end number truly came from. Was this number based on pure statistics? Or did you actually incorporate and consider your lifestyle? Don’t pull a number out of thin air. Instead, create a Non-Financial Retirement Plan to allow you to pinpoint “how much" you’ll need to support your lifestyle after retirement.
Nancy "Autumn" Nessler, M.S., is a Certified Retirement Options Coach who specializes in assisting women make the transition from their working life to a “Retirement of Their Own Design.??? Her company, An Intentional Life, LLC, helps women design a non-financial retirement plan as unique as they are. Autumn understands the power of a successful transition plan. Prior to retiring and starting her coaching practice, over the past 35 years Autumn successfully transitioned from being an educator, to career counselor, to human resources professional, and finally to sales professional—in between with "gigs" as a solopreneur. Personal transitions included raising other people's children, divorce, and many moves. Having recently downsized, she resides in Media, PA, with her husband, Carlo, and is enjoying living her intentional life.