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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.
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?