Page 28 - Ready Set Retire

Stephen J. Kelley

That started a new chapter in their lives. If you haven’t heard
of it, Elderhostel – now Road Scholar – is a travel/study
program which previously targeted seniors but is now going
after Boomers, hence the name change. It’s a wonderful
organization which sponsors educational travel adventures all
over the world. It keeps costs relatively low by arranging
lodging at college dormitories and the like. Participants get to
travel to great places, see and learn things others miss, and
network with like-minded individuals. For a period of about 10
years my parents would take several Elderhostel trips per year.

The reason they could do all this is because they had structured
their retirement income plan so it supported an active lifestyle.
As a minister, Dad had a generous ministerial pension, which
my mother made sure was always the first thing they funded. I
can still remember her pushing Dad out the door to go to the
bank and make the deposits when I was just a nubbin!

The pension, along with the money in his defined contribution
plan and Social Security, created a healthy income stream that
lasted their whole lives. Mom died at 83, and Dad at 92. But I
don’t remember them ever worried about money in their later
years. They always seemed to have plenty to do what they
wanted. And this was key to their very successful, eventful, and
happy retirement.

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