Comments on 10 Things You Should Ask Yourself About Retirement, Part 1TypePad2005-10-24T13:31:00ZNAhttps://www.freemoneyfinance.com/tag:typepad.com,2003:https://www.freemoneyfinance.com/2005/10/10_things_you_s_5/comments/atom.xml/David Porter commented on '10 Things You Should Ask Yourself About Retirement, Part 1'tag:typepad.com,2003:6a00d83451bcbd69e200d8345ee05353ef2005-10-24T17:07:16Z2008-08-28T06:24:45ZDavid Porterhttp://www.mortgageplanningblog.comFMF, Interesting article. This is certainly a topic of conversation with the "Empty Nester" crowd. One of the things that...<p>FMF,</p>
<p>Interesting article. This is certainly a topic of conversation with the "Empty Nester" crowd. One of the things that I have noticed in my practice is that the baby boomers define retirement completely different than the previous generation. </p>
<p>Every single person that I have talked to described a more expensive lifestyle than they one they currently have while working. This was largely due to travel, and the desire to have two homes in retirement.</p>
<p>I suppose most won't achieve this goal because of poor financial planning. But many still can. Once a couple hits the empty nester stage, their ability to save sky rockets. </p>
<p>I have found that only about 3% have any idea how much cash it will take to drive the lifestyle they want. I can tell you from personal experience. A million dollars isn't what it used to be.</p>
<p>They moral to the story? Find your magic number, (how much cash will it take to drive the lifestyle you are looking for?), and save cash like crazy! </p>
<p>David Porter<br />
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