Vacation Planning And Retirement

As we get closer to summer, many people start planning their vacations. But what if we planned for retirement as well as we planned for vacation? Today, we’ll talk through a few ways that planning for retirement is actually a lot like planning for a vacation. We'll also consider whether the United States is Happy.
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Today’s Question:

As we get closer to summer, many people start planning their vacations. But what if we planned for retirement as well as we planned for vacation? Today, we’ll talk through a few ways that planning for retirement is actually a lot like planning for a vacation. We’ll also consider whether the United States is happy.

In The News:

1:34 Happiness Index

  • According to Yahoo Finance and the Happiness Index, the U.S. is not happy.
  • The happiest country in the world is Finland according to this list. Many of the countries at the top of the list are smaller.
  • Money will not make you happy. You’ve got to be happy regardless of reaching a certain dollar amount.
  • One of the indicators for unhappiness includes social media because we are comparing what we have to everyone else.

The Confidence Corner:

8:15 People Spend More Time Planning Vacation Than Retirement

  • Retirement can be like a big vacation in a way.
  • It needs at least as much planning as a vacation because it will last a lot longer.

9:04 Where Will You Stay?

  • In retirement, you need to ask if you will stay in the same house or downsize.
  • Will you move closer to family or relocate?
  • Many people don’t want to have to upkeep their house or lawn.

10:43 Where Will You Eat?

  • When you retire, you might want to eat out more and travel more frequently.
  • You’ll have more time to do different things in retirement, which will add to your expenses.
  • Sit down with an advisor to make sure your plan will work out for you.
  • Don’t wait to start planning until you are in your 50s or 60s.

13:46 Plan for the Unexpected

  • Unexpected costs are going to happen, both on vacation and in retirement.
  • Home repairs and healthcare should be expected costs, but are often considered unexpected.
  • You want to make sure you can do the things you want to do in retirement, so a little bit of planning goes a long way.

The Mailbag

16:55 Retiring Early

  • Frank is retired and planned on his wife working three more years, but they’re now expecting to be grandparents. Is it a bad idea for her to retire early?
  • It may be alright. Sit down with your advisor and run the numbers.
  • Make sure that you get a third-party opinion about it to address everything.

A Point Of Wisdom:

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YOUR HOST

Nathan O’ Bryant is the founder of O’Bryant & Associates, Inc., a Registered Investment Advisory firm in the state of TN. He’s been helping people plan for retirement and their financial futures for more than 15 years.

The weekly podcast features discussion and excellent guidance on the important financial planning questions we all have. Whether it’s tax planning, retirement income, social security or the stock market, you’ll find that no topics are off limit on this show.

YOUR HOST

Nathan O’ Bryant is the founder of O’Bryant & Associates, Inc., a Registered Investment Advisory firm in the state of TN. He’s been helping people plan for retirement and their financial futures for more than 15 years.

The weekly podcast features discussion and excellent guidance on the important financial planning questions we all have. Whether it’s tax planning, retirement income, social security or the stock market, you’ll find that no topics are off limit on this show.

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