If you don’t have a foolproof retirement plan, don’t worry: Carrier Slocomb has come up with one for you. Just be flexible. And keep your tongue in your cheek. Otherwise, it’ll never work.
Think it’s impossible to be prepared for retirement? Think again!
Worldwide, an economy of personal ruin has existed for over seven years — true, the stock market in which many of us have put our nest eggs has climbed back and then some, but that might be a mirage! So, as retirement looms, my Caroline and I have made tons of adjustments, many of which are real sacrifices when held against the light of previous decades. In other words, we now have a plan and, because it’s a really great plan, we’ve decided to share it with you, our worried peers.
So first, let’s check in with experts to get a quick feel for the huge retirement dilemma plaguing us boomers. They tell us that American boomers run lean on our 401K plans. Worse, we possess about a sixteenth of what we need should we survive to age 90. Worse-worse, advances in medicine will allow a great many of us to still clock in past age 100. Nuff said?
Now we move on to a question: Are you handy? And, do you own any tools? Good! Have you ever tried building anything? I include bookcases made of cinder blocks to qualify to say yes, or, closet systems, or small Christmas tree decorations?
You have? Excellent!
Next question:, how do you feel about your adult children? Just as importantly, how do they feel about you? I guess the main criteria here are whether or not you all still get along?
Hopefully, the answer is “okay,” because forgive us if we hit home but we’ve worked out the details on how to thrive for less… and your kids are part of the picture.
#1: Plan a scouting mission: no matter where they live, make a short trip to your kids’ places. You’re looking for real estate, but not the kind you’re thinking of. Rather, you’re looking to see what remains of their tractor shed, or the tree and playhouses your grandkids no longer play in. Should none exist then get a good look at their deck. Decks make excellent backups.
#2: What to bring: a tape measure and your creative imagination. Tree houses are fine in warmer climates, but playhouses and sturdy Amish-built sheds are ideal because they can be insulated and made to look really cute (think tiny window-boxes and colorful shutters). Yes, you’re going to rehab the most suitable structure on-site, turning it into a mortgage-free zone for the two of you!
#3: Benefits: Small structures make for quick make-overs. It costs nothing to rehab and decorate 68 square feet of home. Because you’re moving, some stuff goes to those you love in the ‘big house,’ but most furniture gets sold off to restart your shaky finances.
Of course the good news is that you’re still proud homeowners. The bad news is you have to again share a bathroom with your kids.
Follow Carrier online at Thrive or Survive.