Recently, I decided to start thinking about whether or not I could ever retire. After all, at my advanced age, it’s about time to start the discussion (yea, I’m about 20 years late, but whose counting?). So, this week I met with a financial planner.
First, he comes with a notebook and pen. I know he thinks he’s going to have a lot to write down. After all, he came to my “plush” downtown office and I am a partner in a firm. So, of course he asks about assets. I quite quickly and easily list them out. He looks up and immediately says, “Is that all?”
I pause. As I look at him, I realize that this kid is old enough to be my kid (if I had one at 16!). That’s frustrating! So, I quip back, “Oh yes, I have three kids. They are my most expensive and valuable assets.” He pauses and kind of laughs. I don’t think he thought I was funny.
In the end, after writing a few more notes on his paper, he tells me that I will be able to retire some day – some day, far far away (I realize that I’m glad I just got that long-term care coverage!) We came up with an initial plan, doable if I don’t feed or clothes my kids for the next 10 years, and decide to meet up again once I’ve gathered a bit more information.
All in all an interesting meeting. And,what have I learned?
That the days of seeing those handsome graying couples strolling on the tropical beach in retirement are not happening for me (and maybe they were just on vacation anyway!). That the days of my house being a retirement vehicle are also gone (and thankfully, I can stay in this one level house forever – great for us old(er) folks!). And, finally, the days of it feeling fun to rip open my 401(k) statement are history.
So, I’m going back to the office today. No Powerball lottery win here! I’m going to keep feeding my kids and my savings account (well, gotta open one first!). And, I’m still going to buy that Caribou iced tea at least once a week! Baby steps.
Have a great start to your weekend!
theyearof50 