In this edition of Mitlin Minute we discuss how retirement planning is not all about the money.
The financial aspects of retirement are as important as the non-financial aspects. Planning to have enough money to retire and live the lifestyle you want to live is simply one part of retirement planning.
You also need to plan for how you will spend the 40 plus hours per week you will now have as a result of not working.
It is important with both to begin planning early. You want to get an early start to build the nest egg you will need and to make sure you have hobbies, charitable endeavors and other things to take up your time. You cannot expect to retire and immediately be able to fill all those hours without any planning.
You should start well before you retire to look to get more involved in the areas you want to pursue in retirement and meet others with similar interests that you can build relationships.
Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice. Past performance is not indicitive of future results.