With just 9 more years of the working life I find that my mind is constantly focused on my visions of retirement. What will retirement look like for me when I hit the age of 65 and can lock in on a lifetime medical plan that I have been contributing to all of my working life?
Like most Americans I am worried after listening to all of the so called experts who constantly remind me that I will not have enough in retirement savings to allow me to retire at age 65. I certainly do not agree with most of their advice due to the fact that they base their advice on the beliefs that I want to maintain my current lifestyle. The truth of the matter is that as comfortable as I am right now, I certainly do not see myself maintaining a lifestyle that is fit for a rat who is busy running a race at a pace which is exhausting, but at times also exhilarating.
I see myself living a life of quiet solitude in a small retirement village for half a year while taking to the road in a small motorhome the other half. With grandchildren all over the country and so many sites to see and visit it sounds like a grand plan for retirement.
The plan itself sound pretty straight forward and affordable, but it also comes with several rules that I must obey to reach such a goal.
- The small retirement home I choose to purchase must be paid for. In other words there can be no mortgage payment.
- The motorhome too must be paid for in full with no monthly payments.
- Between a social security check and a few small pension checks and an annuity check from investments must be able to support this type of lifestyle.
- I must be healthy enough to maintain this type of lifestyle for many years.
To make such a dream an actual reality in just nine small years I must stay true to maintaining this minimalist lifestyle. I must continue to contribute and concentrate every living and breathing dollar to paying this house off in it’s entirety. Once the house is paid off I must then use those same dollars towards a Roth IRA based on an index fund.
I know that these visions of a promising future are simple in the form of visions can actually become less promising one day if all of the steps to prepare are not tended to.
No, I do not need 1.5 million dollars in the bank to retire, but I do need a plan in place to maintain a lifestyle during retirement that would allow for both the security of a small home and the excitement of traveling.
Who knows, nine years from now my wife and I may feel differently, but we both know that the sacrifices we make today will provide us with a whatever lifestyle we choose.