February 9th, 2011

Baby Boomer Retirement – Realistic Expectations

Baby boomer retirement plans must be realistic.  This means that your expectations for your retirement shouldn’t exceed what you’re personally capable of doing.  Everyone is different.  The current circumstances in your life wil have an impact on your retirement plans, but they should not stop you from planning for retirement altogether.

As an example, you may be caring for aging parents while taking care of your children financially.  This can involve helping to pay for college tuition while handling your parent’s finances as well as your own.  This type of situation is very stressful to be in.  But while you’re managing everyone else’s finances, you should still take time out to manage your own.

How to Enjoy Your Retirement

You can still enjoy retirement even though you’re sandwiched between generations and taking on other responsibilities.  You’re smart, capable, and you have experience.  All you have to do is sit down and rearrange some things.

While rearranging your retirement plans, make sure that your expectations are realistic.  You may want to take a vacation every month, but will you really be able to afford that?  Try making a vacation twice a year instead.  If you plan on picking up a hobby, try something that isn’t time consuming, but still allows you to spend necessary time with family and friends.

How to Retire and Work Part Time?!?

If you foresee that you still need to work while retired, then try to plan on working part-time.  Most of the time, working two or three days a week is just enough to supplement your retirement income.  This will still leave room for your hobbies and plenty of openings on your social calendar.

The point is to take it easy on yourself.  You’re a superwoman, but you’re not invincible.  Even superheroes need days off.  As a grandmother, mother, aunt, sister, and lover, you still need time to yourself.  Realistic expectations of retirement can help take some of the stress off of your current financial situation.  More importantly, realistic expectations of your retirement reflect the realistic expectations you have for yourself. For a baby boomer, retirement should be enjoyable, not resentful.

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