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I am not sure I have ever written about this subject before. Satisfying Retirement is not a financial blog, but our monetary resources are an important part of how well we live, so it is not a subject I ignore. If you search the archives there are plenty of blog posts about preparing yourself for retirement, managing your money, budgeting, and all the basic steps that help keep us financially afloat. But, what about after retirement...are we done investing new money? Do we take what we have and figure that is what has to last for the rest of our lives? I can only speak for me, but, yes, that has been my assumption. After all, I don't work anymore. I have no "extra" income do I? What would I use to invest? Actually,  the more I thought about it, the more obvious became the fact that I do have money to invest. Maybe my days of making fresh financial decisions are not over. Here are some of my thoughts: 1) In an earlier post I mentioned that my wife will begin receiving spo...

Not everyone agrees that a financial advisor is necessary. Some of us are quite good at fiscal discipline, understand how investments work, and have the experience and temperament to handle our financial future on our own. For the rest of us (me!), having someone who can help us minimize mistakes and help us reach our goals is prudent. Just like we shouldn't self-diagnose ourselves when a funny-looking skin growth appears somewhere on our body, our financial health benefits from guidance.  In thinking about this post, I figured there are a probably two dozen questions or concerns I could come up with if I were hunting for a new financial advisor (which I am not).  But, that is a bit overwhelming. You might look at such an extensive list and assume that finding the right person is too difficult.  So, I have trimmed the list of key questions to six. The answer to each might lead you to another question or two, and that is good. Though not ...

From the archives. First published three years ago, these thoughts continue to be appropriate as 10,000 people a day retire. According to many  retirement advice  experts, $1,000,000 is the minimum you need in your investments accounts to have a satisfying retirement. Others say you need something north of $2 million to rest easy. As regular readers know, I tend to push back against such generalizations. How someone can draw a line in the sand and tell you what you must have or must do without knowing you and your situation is poppycock (I love that word!).  I offer suggestions and advice based on my experiences and feedback from readers, but I hope I am never guilty of telling you "my way or doom." That being said let me offer some thoughts on how the non-millionaires among us can still retire and enjoy a fulfilling and stimulating life. Again, I will say these are thoughts from me. They may not work for you, or you may have even better ideas which I since...

First written almost 5 years ago, these thoughts are worth rerunning for those who weren't reading Satisfying Retirement back then (roughly 95% of you!) There are folks who manage to leave work much earlier, but tell most people you stopped full time work at 52 and they will assume you won the lottery.  I didn't win anything, and neither do you. In fact, far from being financially set when I retired I played with the financial numbers constantly to make sure I hadn't made some horrible mistake. I didn't have nearly enough to live the lifestyle I thought I wanted, but there was enough to make it. Even so,  I took a large leap of faith. The point of this post is to detail the investment/retirement financial approach I took. It may not make sense for you. But, then again maybe it will. Now, one strong caution: if you didn't make a decent start toward retirement in your younger years, then, this probably won't work in your situatio...

$825,375. It would nice if I could give you the exact amount of money you need to retire. Achieve that figure and walk away from your job. Stop worrying about the stock market, what the Fed is doing, or who says what in Washington. Hit your number and go. If you type the search phrase,  How Much Money Do I Need To Retire ,  into Google, you will get something in excess of 43 million links to that question or a close variant. Isn't that amazing? A question that is very personable still has 43,000,000 places you can consult. That dollar figure above is probably incorrect for you. The amount of money you need to retire is based on these five factors: What your goals are for your retirement Do you want to spend the first several years traveling the world, visiting your adult kids and grandchildren, remodeling your home, or splurging on the RV you have always dreamed about before settling down? Or, are you really looking forward to staying close to home, being ...