Retirement Advice from the Travel Club Ladies
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Retiring is a life change as unique as our fingerprint. Age, health, relationship status, financial resources, how our final job ended, and social network contributes to the retirement experience.
A couple of years before retiring, I joined the Indiana Over 60 Women Travelers, a group founded by four friends in 2021. Their concept was refreshingly simple: no dues, monthly meetings at the local library (which generously provides a free meeting room), and member-led trips where everyone pays only for the activities they choose to join. The group is organized through Facebook and has grown to 467 members across Indiana. Interestingly, I estimate about a third of the members are still actively employed.
Members of the group have taken international, weekend, and day trips. Travel club members contribute to the events page and others join in for 5k walks, plays, concerts, movies and activities from candle-making, flower arranging and cooking classes. Every month, a member volunteers to organize a lunch. Members outside of Central Indiana coordinate activities in their area of the state. In March, 20+ club members visited Costa Rica!
A few months ago, at a monthly luncheon, I asked women in the club to anonymously share their advice about retirement.
Here is retirement wisdom from the travel club ladies.
Save Save Save!
Begin researching how you would like to fill your time: a) fun groups; b) volunteer activities; c) scheduling regular exercise time.
Save more the last 3-5 years before retirement.
Save for retirement so you can enjoy everything you always wanted to do.
Talk to a financial advisor and a tax advisor. Check your social security balance for the “monthly” amount.
Don’t sit around! Keep moving whether it is walking, doing aqua-aerobics, yoga or chair exercises.
Five years before retirement: Save 10% of your income each year. You will likely get less than your working income. Get used to it.
You don’t really notice, you just fade into it.
Make a budget and “guesstimate” your retirement income. Live on that amount of money for 6 months to a year to see if that works for you. If so, Just Do It!
Maximize your 401(k) and IRA contributions until you walk out the door. Also, have a plan for the first 6 months after you retire.
Keep moving your body in your 40s and 50s. In your 60s, 70s, and 80s you will be glad you did.
Interview several investment professionals and choose one or two along with someone to help you decide on the best Medicare choice for your situation.
Don’t think you are going to get your house cleaned and organized once you are retired; because you won’t. Start planning fun things you want to do and financially plan for them.
Plan finances out roughly. Plan for travel & Do it. “Best Decision Ever.”
Thanks for reading! Add your retirement advice in the comments. Please share this post with someone you love!
Wake up every morning thankful that you are in your right mind and able to get out of bed without help. Eat a healthy breakfast. Stay connected to your family and friends both near and far. Don’t hold grudges and forgive. Forgiveness helps me. Remember what you think about you bring about. Always have something planned to keep you moving in and out of the house. Plan exercise and activities you enjoy alone or in a group. Read and watch game shows. Don’t spend too much time watching or listening to the news. You don’t need as many clothes or shoes. Be kind and friendly.
I’m learning to plan for retirement travel.