Page 40 - Ready Set Retire

Stephen J. Kelley

Don’t be too conservative, and be sure to leave room in the
budget for the fun things in life as well: trips to visit, and gifts
for the grand kids, travel, meals out, entertainment, wardrobe,
etc. Also remember the rising cost and need for healthcare, and
perhaps, long-term care in the future. All of these things will
need to be paid for in one way or another, and you need to
plan for them. This is the first step to a financial plan, and it’s
the first thing we ask new clients to do when crafting a plan.

Many people dread this step, but I would like you to consider
it in a different vein. Many, if not most, people entering or
getting close to entering retirement experience a lot of
uncertainty, insecurity, and fear. My experience is these often
arise from a feeling of being out of control. These steps that
we ask you to do are all designed with a two-fold purpose.
First, we need the information in order to craft a plan. Just as
important is the psychological boost people usually experience
as they begin taking control of the process. Many people tell
me what a relief it is to go through these exercises. It helps
them feel like they are taking back control of their lives. A
sample budget is shown on the next page. Feel free to use this,
or you can go to www.FreeMoneyGuys.com and download it.

30