Real Life Retirement™ Services
Going back to work to build up his retirement fund
- There is more than one right way to retire; be prepared to regroup if Plan A doesn't work out.
- Plan how and when you want to use your retirement funds, and don't tap into them until then.
- David retired two years ago, but due to the financial crisis he reversed plans.
- His new goal is to retire at 65, when he and his wife will still be young enough to travel.
The best laid plans. Then 2008 happened.
"I retired from my federal government job at age 60. But between my IRA balances going down, utility rate and property tax increases and $4 a gallon gas, I was uneasy about the economy. My goal was to not begin drawing down my IRAs until I turned 65. So I went back to work six months ago."
Wants to do more than just get by.
"I was on the right track before I retired. I shifted from higher-risk stocks to a more conservative investing model. It didn't play out the way I thought it would. It'll be a five-or-six-year journey back to where we were. I made my best guess in terms of dollar amounts for retirement. The problem is, I tend to be overly optimistic. I thought we had hit bottom.
"I was counting on tapping into my IRAs for travel. I could get by on my pension, but I don't want to just get by. And I don't want to wait until I'm 70 to travel. So I plan to work for three more years to add to my retirement fund."
Take the Next Step.
Let's talk about the retirement you want.
Call 877-673-7970 for your complimentary retirement consultation.
- Use our retirement calculator to see where you stand today.
We thank David for sharing what worked for him. His words have been edited. The information provided here is for general purposes only and should not be considered an individualized recommendation or personalized investment advice. Examples provided are for illustrative purposes only and not intended to be predictive of future results.
The types of financial transactions mentioned may not be suitable for everyone. Each investor needs to review a transaction for his or her own particular situation. Data contained here is obtained from what are considered reliable sources; however, its accuracy, completeness, or reliability cannot be guaranteed.
All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Examples provided,
including statistical simulations, are provided for illustrative purposes only and are not intended to imply future results you should expect to see. Past performance is no guarantee of future results.