Lately, I’ve had lots of discussions about retirement with my boss. He’s getting to the age where retirement is too far away for him and his wife, and many of his peers are starting to retire. We’ve talked about how he’s planned for his retirement, how he has forecasted his cash flow for 10, 20 and 30 years from now, the company retirement plan vs other pension plans, as well as the doom and gloom reports and articles outlining how my generation isn’t saving enough to cover our retirement expenses.
I hate hearing my boss talk about retirement, because frankly, I’m not ready for him to retire yet. The man is really good at his job and has years of experience behind him, so there’s not much he hasn’t come against. Being only three years into the job, I feel like now I’m only starting to get a handle on the profession of environmental planning. If my boss were to retire tomorrow, I would ask if him to leave his brain, so I could experiment on a way to extract all his knowledge.
In our retirement discussions, we often talk about the timing of retirement, whether it’s better to retire early or late. The timing of your retirement has a huge impact on how much you need to save, if I were to retire at 50, it almost goes without saying that I would need to save up way more than if I continued working until 65. It only takes a casual glance around the pf world to find people promoting early retirement, for lots of different reasons: to spend time with family, travel, follow a passion, and even simply just not work anymore. I’m not sold on early retirement though. I really enjoy working – albeit I’ve only been working full time for three years, I’ve always been a worker. I like having something to do, I’m not the kind of person to sit around, I like being busy, being occupied and having tasks to complete. Thankfully, my job is the type of job that has a fair bit of variety, so I’m not likely to get bored. Sure, early retirement gives you more time for traveling, but I’m hoping I’ll be able to travel even if I retire at 60. Hell, my grandma went to Alaska when she was 75.
While money is an important consideration for determining age at retirement, I think something that also has to be considered is health. I want to be a healthy senior. I want to be able to work until 60 without being sidelined by health issues. I want to still be able to travel if I retire at 65. With that in mind, I’ve started running and I’m pledging to get my arse back in the gym at lunch. It’s too easy to just sit at my desk or on the couch and be sedentary. I have to invest in my health now, before it’s too late, just like I have to invest financially for my future now. Maybe I should toss a dollar in a jar for every kilometer I run, and look at my gym membership and cost of yoga classes as an investment instead of an expense.
Do you consider your health when planning for your retirement? How do you invest in your health. Also, anyone have any suggestions for my running playlist – I’m open to anything.