This is a question you may not have to answer for many, many years…but the sooner you do, the more peace of mind you’ll have. 

These days, people are living longer than ever—and there’s every reason to believe that trend will continue.  But eventually, everyone finds themselves slowing down.  Many of the activities that once were easy become hard.  Take the simple act of getting groceries.  Once a week, you get in your car, drive to the store, pick a shopping cart, and stroll the aisles looking for the various foods you want to eat.  You’ve done it for years, and probably have never given it a second thought. 

Unfortunately, the day will come when this once-simple act will require a lot of thought.  For example, imagine that you’re 85 or older.  Will you still be able to drive?  Will you still have the energy to push the cart or put away the groceries when you get home?  What if it’s snowing outside? 

Now imagine some of the other activities you take for granted, like changing the lightbulbs, mowing the lawn, or shoveling the sidewalk.  Eventually, you may not be able to do these things by yourself. 

It’s not a pleasant thing to think about, but that’s exactly why it deserves careful thought.  Sadly, I have known retirees who didn’t plan for the inevitable.  As a result, the basic demands of life become stressful and scary. That leads to a lower quality of life. 

The good news is that by planning now, you can determine where you will get help in your advanced years and how to pay for it if necessary.  That way, you’ll never have to worry about getting groceries, or keeping your home in order.  All you’ll have to do is follow the plan. 

After all, who wants to spend their golden years worrying?

As you can see, retirement planning is about more than just money.  It’s about quality of life.  You’ve worked hard to be able to retire one day, so you owe it to yourself to make sure the transition into retirement is as fulfilling and stress-free as possible. 

Take some time to think about these questions.  Remember, time and life are both finite resources.  By spending a little bit of those resources now, you can get the most out of them forever.