Talking Retirement

By: Olympia Valentine

Retirement Planning Club for Women

Wednesday, August 19, 2009

Meeting Objective

• Knowledge share among the group who are retired or planning for retirement about retirement decision-making in regards to planning for retirement, managing retirement and enjoying retirement.

• Create dialogue by asking questions from each retirement section.

Retirement Lifecycle

Planning

ManagingEnjoying

The New Definition of Retirement

• According to The Economist, we need to redefine what retirement means. Few people want to go from “working full time one day to twiddling their thumbs the next.” We need to ask ourselves what we value. What do you want retirement to be about?

Planning Retirement

1. How would you define retirement?

2. What are your goals to retire?

3. What financial tools do you use?

4. How do you plan to communicate with your spouse, family members about your retirement plans?

Retirement Security

• Money tips from Market Watch for retirement:

-Calculate longevity risk, so you don’t outlive your money.

-Stay in control of your finances.

-Watch your expenses, think about areas where money can be saved.

Managing Retirement

1. What do you look forward to most once

retired?

2. How do you plan to adjust your lifestyle to maintain retirement? (i.e. downsize, change location)

3. How would you handle financial changes? (i.e. someone’s responsible for budgeting money)

Why I’ll Never Retire

• In interview with Bottom Line Personal, Ed Koch former mayor of New York, stated “he could have opted for a quiet, stress-free retirement.” “Instead, he was losing 40 pounds and working at 11 new jobs.”

• Women’s luncheon story

Enjoying Retirement

1. How do you plan to remain active?

2. What would you miss most since retired?

3. Would you consider re-entering the workforce? If so, how do you plan to stay relevant in the job market?

New Retirement Concepts

• Mini-retirements

-Instead of end-of-life retirement, take more frequent mini-retirements.

-Recur throughout a lifetime.

-A mini-retirement is long (one to six months), and allows one to fully participate in their new environment.