Can You Afford To Retire?

“Retirement is not a physical act, but rather a mental state. ”

Next week on March 11^th, two financial experts (Larry Weiss CFP®, CPA, and Kathryn Amenta,Financial Advisor) and I, will conduct a seminar, “How to Retire Within Your Comfort Zone”.

What prompted me to bring the subject of retirement to your attention was a conversation we had with Peter Karp, who is doing a very good job managing our retirement account. Peter shared some good news with me: “You are not ready to retire. You need to generate revenue for at least two more years.”

I call it “good news”, since I am not planning to retire for another 30 years. Not only that, but I am not even planning to slow down. I would rather start building what I call a “start-up”.

Who said that only young people can do it?

Sure, I do not have their energy anymore, but I have something more valuable—wisdom about how to enjoy my life while doing it. I call my new idea “We R Village”. I will write more about it as we progress.

In my work, I see the whole financial picture of our clients. Not many are ready to retire, even when after working for many years for the same institution, they are laid off. Only a few companies offer pensions nowadays, and it is usually not enough. Real estate properties often become a source to supplement retirement income, if they have enough equity. Some homeowners choose reverse mortgages.

I had a conversation recently with a friend who will retire after working for a major bank for 40 years. Her 401K plan has a significant amount of savings as a result of matched contribution throughout the years. She told me that younger employees are opting out and not participating in this opportunity. They want to have money—NOW! What will they do years later?

Do not get caught! It is never too late to get yourself ready. Look at me!

Hope to see you at the event!