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Five Strategies for Having Enough Money for Your Dream Retirement (While You're Still Breathing!)

Most people think that's all retirementexperience, enthusiasm and
is about -- having enough money to sitorganizational skills so impressed the
on the deck, play golf, and visit theDirector that Larry was offered a
grandkids. But that's the old model --part-time position as Assistant
not today's retirement. Someone whoDirector. Although he has less time for
turns 65 today can expect to live untilhis painting, the supplemental income
age 83, according to the US Bureau ofallows him the luxury of another passion
Labor Statistics. Here's 5 strategies to-­ regular trips to Italy.
help you pursue your dream retirement:3. Maybe you've been passionate about
Copyright (c) 2007 Lin Schreiberyour hobby all your life -- making
Most people think that's all retirementwoodcarvings, gardening, or playing
is about -- having enough money to sitbridge. What about a part-time job as a
on the deck, play golf, and visit thegardening assistant during the summer,
grandkids. But that's the old model --selling your work at craft fairs, or
not today's retirement. I believe yougetting certified as a bridge
can revolutionize your retirement eveninstructor?
if you can't count on 80% of yourThink about what you love to do, the
current revenue when you stop working.best times in your life, what you never
(That's the secret number according tohad time for when you were raising
many retirement experts.)children and working full time. If you
Someone who turns 65 today can expect tolove animals, become a pet sitter.
live until age 83, according to the USConsider working in a day care center,
Bureau of Labor Statistics. So, even ifif small children delight you.
you stop working at the normal4. Try seasonal employment. That's
retirement age, you've got nearly twowhat Betty and Bob do. They say they're
decades to fill with things that really"rewired," not "retired." Each winter
matter to you. And, if you give upthey close their Maryland home, pack up
traditional employment sooner, you'veher home-based marketing business, and
got even more years to enjoy the "thirdhead to Snowmass, Colorado. For the
half" of life. Today the averagenext two months, they work for the ski
retirement age is an astonishingly youngcorporation -- alongside college kids
57.from Australia and a few other couples
I said "enjoy," and I mean it. To dotheir age. He parks cars and slings
that, you need to put yourself squarelyskis on busses; she helps families plan
in the driver's seat -- decide when andtheir vacations at the resort. The
how you retire and who you will be.minimum wage they make covers basic
Don't let someone else's definitionexpenses; they each get a season's pass
determine your retirement.worth $1,799; and they only work a few
So, begin by putting the money issuedays each week. The rest of the time
aside entirely. That's right. Justthey follow their passion ­ on the ski
forget about money and take a good hardslopes.
look at the life you want to be living.Seasonal employment is available at
Start journaling, brainstorm withNational Parks, community facilities,
friends and family, and dream a lot.and as travel hosts to exotic places.
For inspiration, begin to brainstormFurthermore, there are lots of Web sites
ideas and tools needed to help you planthat specialize in senior employment.
the perfect retirement for YOU.5. But if you really want to make the
OK. So money does have something to domost of the "third half" of your life,
with it. Now's the time to figure outconsider packaging what you know and
exactly how much you have and whatsharing it with others. That's what
you'll need. Maybe you'll discover thatMiriam did. After 30 years of a
you have enough money to do everythingsuccessful therapy practice, she traded
you want to do. Congratulations!her East Coast home for a West Coast
But what if you don't? Will you need toapartment. With her savings and a
work until seven years after you'rehandsome settlement from her ex-husband,
dead? Or can you still create theshe lived the good life. Then one day
retirement of your dreams? Of coursethe money was gone. Already in her
you can. Here are some ways to makeseventies, she picked herself up, buffed
that happen.up an old passion, and began writing
1. First, sharpen your pencil andpsychological thrillers. Today, Miriam
reconsider how much is enough? Maybeis making more money than she did during
you don't need to stay in the big househer other career ­ and she's having a
and take care of all that stuff.lot more fun.
Perhaps you'd love to simplify your lifeWhat will it take for you to let go of
by living out of your RV as you travelyour outdated beliefs about money and
the country. What could you downsize orretirement and get inspired to
let go of to buy yourself a morerevolutionize the "third half" of your
carefree existence?life?
2. Second, consider supplementalRemember, money is merely one of the 15
income. Wait a minute, didn't I just say"must haves" for a thriving retirement.
you were going to stop working? Well,While taking charge of your life, having
there's work. And, then there's work.dreams for the future, and a purpose
Larry was an art teacher in an urbanthat pulls you out of bed in the morning
high school for his entire career. Inare not as tangible as, say, $1.3
retirement, he followed his passion formillion in assets, they're just as
painting and also volunteered at acrucial.
national art society near his home. His



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