What is “Retirement.” We all do different things in retirement, but we all end up similarly retired. What does the word even mean?
The Oxford Dictionary defines retirement as: “the action or fact of leaving one’s job and ceasing to work.” And that is the core similarity among retirees – they aren’t working for their income any longer.
In a nutshell, retirement is Life After Earned Income.
If we no longer have earned income, does this mean we stop spending? Um… No!
And that is the retirement planning challenge.
How do we create a lifestyle sustaining income while we are not EARNING income? How do we make that income last for an indeterminate (30 (+/-) years) time in retirement?
And, how do we make sure that income keeps up with the rising cost of living?
Are you certain that YOU will be able to retire and remain comfortably retired?