Money is a key issue for people entering the Third Age. Having enough money to enjoy life in your Third Age is the fuel necessary for sustaining your life goals and dreams. Without fuel you won’t get far, but you also shouldn’t have to worry at every turn, right?
Retirement planning requires you to cross your i’s and t’s on financial statements, budgets, and legal documents. There is no way around it, but you also need to come up with a plan for how you are going to re-create a paycheck in retirement.
How are you going to combine the money you have from pensions, savings, possible work and other sources? Coming up with a plan requires thinking about what matters most to you and creating investment strategies that fit your needs and personal preferences.
Besides the obvious need for money to fund your living expenses, money often carries significant emotional baggage. Your “money scripts” are often subconscious. Understanding your attitudes and those of your spouse or partner toward money is in an important step in maintaining healthy financial habits.