Retirement: Doesn't hurt to plan

Comment: Obviously our days are but a vapor. A man's days are limited and we are to be reminded of that. I personally don't view retirement as a time of doing nothing but rather a time when I can redirect my energies for the Lord without the pressures of full time employment. I found this article helpful.

Four Ways 60-Year-Olds Can Save Their Retirement

Excerpts:

You should be doing at least four things now:

1. Build a Bigger Nest Egg: "if you need $30,000 per year indexed to inflation starting at age 65 until age 95, then you need $900,000 in your portfolio at age 65"
   
2. Check Your Asset Allocation: "avoid the temptation to take too much, or too little, risk in equities"
   
3. Delay Retirement: "a delay in retirement of, say, just two years means two years more of savings, two years more, potentially, of earnings, and two years less of drawdown"
   
4. Delay Taking Social Security: "every year a pre-retiree can wait to start taking benefits, the initial amount received will increase about 8%, in addition to being adjusted for inflation. This could result in the initial dollar amount from Social Security more than doubling by waiting from age 62 to 70 to begin taking benefits"
   

Comments:

• We prayerfully are aiming to retire August 31st, 2015. I will be 66 and K will be 64½
  
• We hope to commence my SS then and wait until K is 66 to take hers. I am planning to not have to rely upon both SS incomes (use one for living expenses and the other to save)
  
• Back in March 2010 the WSJ had a good article on financially planning for retirement. I mentioned it in my blog here: Do You Have Enough to Retire? Do the Math
  
• I've mentioned John Piper's article on retirement several times. Here it is again: Should I invest for retirement?
  
  

Final comments:

1. For the Christian there is no "retirement". There is an opportunity to redirect one's efforts in the final years one has on this earth. While there may be greater opportunities to travel and relax a bit, one needs to remain engaged in the service of the Lord and in fellowship with his local church.
   
2. Kathee and I have agreed (not a new thing ... this is the way a good marriage works!) to agree together in whatever direction we should go. We seek to follow the Lord together as we surrender to Him.
   
3. We are open even to full time vocational service (well not quite "vocational" ... I doubt we would need any church income!)