I was reading a great Washington Post article on what The Top Regrets of Retirees are and I got to say it kind of freaked me out.  I don’t know why getting a few years into my 50’s freaks me out so much but I honestly don’t know if I have enough money for retirement.  I have been faithfully putting money into my 401ks and IRAs over the years.  I started up a Health Care Savings Account – so that I can sock away money into it while I’m healthy so I have some addition money for when I retire and healthcare costs go up and I have to pay for it myself.

In the article, it talks about the top disappointments (according to the Global Atlantic survey).  They are:

  • Relying too much on Social Security
  • Not paying down debt before retiring – this includes your mortgage which tends to be the bigger debt.
  • Not saving enough

Thanks to my Financial Advisor, I have been thinking about these things for a bit now but have to admit, I think I am behind in my savings.  The challenge most people have is how much to save?  How long will you live?  How much do you need to live?  Will Social Security be around?  Yikes!!  I guess I never thought about this because I was always bringing in decent money and the bonuses helped pay off any residual debt that I had but the economy’s ups and downs over the last 10 years have changed all that.  Just when you think it is getting better, something happens and the rollercoaster starts up again.

Because of all these thoughts that were keeping me up at night, I decided to work on an business for myself.  My goal for this business is to have it take care of the larger bills that I will have during my retirement.  This way I can generate some extra income but what it is really giving me is this amazing community of people that all way to age gracefully.  People that want to look in a mirror and like what they see.  People that are healthy, active and stronger as they get older vs. thinking that once you hit a certain age it is too hard to lose weight or get stronger.

What are your plans?  Are you ready for your best second half of your life?

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