Recently I was chatting with two of my friends about retirement. One friend is currently retired and the other, like me, is still working and has one child in high school and one in college. The conversation went something along these lines.
Retired friend, “It feels weird spending money each month and knowing that our accounts are now being depleted. Even though our financial planner has assured us that the money will last, and I know it will – it just feels strange!”
Me, “Well, in six years I am hoping to be in your spot.”
Working friend looking at me with a startled look on her face, “You can retire?”
Me, thinking that is a strange question, “Yes. I can’t touch any of the money until 59 ½, but yes, I can retire. I just need to work from now until then.” She continued to look at me with a rather perplexed look, so I continued, “Yes, I can most definitely retire. I am not teaching forever. I might do something else, but retiring from teaching is in my future.”
She didn’t ask me any more questions, but that conversation left me thinking about how important it is to have a financial plan. Thanks to Sum180 I know what I need to retire, and I know what I need to do to get there. Like my retired friend – I have been managing money for years with the goal of being able to retire.
Having a plan and working the plan not only feels good, it gives me the confidence to know what my financial future will look like.
Beyond being a road map, what does a financial plan provide for you?
.
