| Early Retirement Planning...a common error is people | | | | Think of the times you have bought new cars that |
| think or are led to believe they are going to continue | | | | you didn't really need. And I am not saying I haven't |
| spending like they are while working. | | | | done the same thing....but I learned and our current |
| If it means the difference between staying retired | | | | car is 11 years old with 153,000 miles on the |
| and having to go back to work, you will find a way | | | | odometer. Runs and looks good thank you. |
| to stay retired and spend much less than when you | | | | Clothes and cars are the tip of the iceberg. If you |
| worked. | | | | are at rung 4 of the corporate ladder a country club |
| Why am I so sure of this...it is because of the money | | | | membership, a certain type of country club, may be |
| you waste keeping up with the neighbors and | | | | expected of you. Folks, I have not had my shoes |
| co-workers. Think about it, at work how much | | | | shined in 14 years, open toed sandals don't need |
| money you spend on clothes and cars to keep up | | | | polish. You can do this too. |
| appearances. You need to recognize this for the best | | | | It is not in the financial planner's playbook to even |
| early retirement planning for you. | | | | think about you spending less money, a lot less |
| The scenario goes like this...well Sally and I both make | | | | money, when you retire. It is so easy to say, "well |
| the same money. She is shopping at Macy's. I'll show | | | | this is what you are doing now and you won't be |
| her, I'll get that dress I've wanted at Nordstrom's. | | | | happy spending less." |
| Has a nerve been hit? I did the same thing... now I | | | | Really? Compared to commuting and working with |
| did not wear dresses just substitute a tailored suit | | | | people you may not care for is all the motivation you |
| and Bill for Sally. Whew... | | | | will need to retire early. |
| If this sound familiar...it will stop when you retire. | | | | You will spend a lot less in retirement if you are |
| Your old clothes fit just fine...besides you need | | | | motivated to retire. Early retirement planning rarely |
| money for fuel to take the RV to Montana...now | | | | takes this fact into account. Don't let it happen to |
| that's the way to think and prioritize for early | | | | you. Enjoy. |
| retirement planning | | | | |