Retirement is more than a money issue

Following in bold is a discussion from a Facebook retirement planning group. As you can see, this lady does not have financial problems. She is better prepared for retirement than nearly all Americans. So what’s going on?

Having sufficient financial resources is only part, a big part, but still only a part of an enjoyable retirement. Letting go from work is a big step, especially if you enjoy what you are doing and many of your people relationships are work based.

And then there are the 20-30 or more years in retirement. What to do, what to do? As this lady mentions, she doesn’t just want to lay around… and neither do most people.

There is no need or reason to lay around.

Get a part-time job for fun, volunteer if that’s your thing, join groups that interest you, travel, spend more time at a hobby or start a new one. Get involved in things that make it easier to make new friends. Most of all start thinking about these ideas before you make the leap away from your job.

I am a widow who can retire. I own my home, have no debt and purchased my last car in cash. I am afraid to stop working. I have my husband’s Social Security coming in and will use the rule for widows/widowers that I can start my Social Security at 70 at a much higher rate. I have a government widows pension from my husband dying as a result of his military service and a company pension. I have just over $2 million in IRA’s – I transferred my husband’s into my IRA and put the maximum in my company 401k. I have been putting the maximum into Roth every year since 2012. I am on Medicare and what isn’t covered by Medicare is covered by Champ VA as a benefit given to me when my husband passed. Is there something else I should be doing?

My Reply: From a financial standpoint it doesn’t appear you have anything to fear from retirement, quite the opposite in fact. Is your fear of stopping work more to do with the enjoying your work and work relationships? What would you do if you did retire?

I can’t visualize it and that’s the problem. I identify with my career. I don’t want to lay around.