"To Retire or Not; That IS the Big Question?" - Time Out #192

Retirement.... should I, can I, when will I, and a zillion other questions about this life-changing thought?

This dilemma is extremely important to get right, but the path to arriving at your correct decision may certainly be filled with many distractions.

In today's ever-changing economic climate, one also has to be flexible with their decision, and, possibly, even reverse their course, and simply return to work.

As I have stated several times in past writings, it is estimated about 75% of Americans do not like their current jobs. With those elevated negative numbers, one would think, "flipping the retired" switch on when the occasion presents itself, would not be a difficult call, but, of course, you know it usually is very hard lifetime decision.

Other than the obvious economic questions that have to be fully addressed prior to your job departure, the other huge mental hurdle is just "what am I going to do to occupy my time when I retire?"

Many folks have long-time hobbies, others develop new ones, and/or devote a great deal of time to a plethora of available volunteer organizations. Other people become part-time/full-time caregivers for family members, whether the dependent members are the very young, the very old, or possibly the disabled. Travel, domestic and/or international, consumes some retirees new-found "extra time", while others decide they now have the time to write that book, knit that quilt, construct that outdoor shop, or play non-stop golf or tennis with their peeps from sun up to sun down. These various options exist, of course, as long as their spouse doesn't have a "honey do" list that has a multitude of time requirements. Good luck on escaping that dilemma, dear readers? Fortunately for me, my bride, Debbie, has never been one of those spouses

Let's now re-visit the dollars-and-cents issue.

I've heard it explained, you have to arrive in your mind's eye, just how much money you think you will need in your retirement years. Boy, is that a moving target!

Most of that chunk of change depends on the life style you plan to lead during those unknown senior years that lie ahead. Obviously, if you plan on being a golden-age jet setter, you will certainly need more bank funds than if your future course is plotted out to be much more low-keyed and conservative. Only you and your significant other are able to logically predict what your crystal ball may accurately say about your time-to-come down the road.

Personal health is another vital ingredient in your planning process. Good health probably means you can post-pone retirement, or take it early, and thoroughly enjoy aspects of life other than working. Poor health may mean you are forced to retire, which may also mean your post-work years are not filled with a great amount of physical activity. If you are one who develops serious, good healthy habits throughout your life, you will probably be rewarded with lots of available options as the retirement window comes closer, and ultimately arrives.

So, what about my personal feelings about this topic, retirement? Well, I think it is a wonderful thing for most people, but I am not one of those individuals. I absolutely love my 41-year healthcare occupation, and have no plans of ever completely retiring. But then, I really don't consider my job as work, but rather a privilege to be able to continue to help others.