Jeff Pabst, CRC
Are you thinking about retirement? Have you thought that you might not be ready to retire? You should think about taking retirement for a test drive. I know you’re probably thinking that is easier than it sounds, but there are several activities that you can do to ‘simulate’ a retirement test drive. There are a few listed below to get you started.
- Take a Pay Cut. Reduce your current take home pay by 20 – 25% and live off of that amount for the next month or two. This simulation will show you what it is like to live with less income like what you might experience when you’re retired.
- Take Extended Time Off. You and your spouse (if you have one) should try to take 2-3 weeks off and have nothing planned. This will simulate what its like to not have anything to do all day. Have you thought about what you will do when you don’t have anything you must do?
- Fire the Chef. Dining out is expensive. When you retire, you may have to eat at restaurants less. For 30 days commit to only eating food that was prepared at home. This commitment is sometimes difficult and may require some planning ahead, but you will be surprised the amount of money you will save.
- Say No to Expensive Coffee. If you have a Starbucks habit, break it for 30 days. To help motivate you, look up how much your habit is costing you on a daily basis and multiply it by 30 days.
This list is by no means inclusive of all the possibilities for retirement test drives. However, this can be a very good start for you.
Jeff Pabst, CRC Public Relations Specialist