If you aren’t retired yet, this article is for you.

Sit down and have many discussions about your hopes, your expectations, your desires you have for the future years. Dick and I have always found a lot of conversation while driving and relaxing – find a comfortable setting and share… your hopes, your expectations.

Figure out just where your income is going to come from and how much you can plan on receiving – here, a financial advisor may come in handy.  Most banks have one for free, but we’ve found you can get a lot of information by just getting out pencil and paper and figure!  There are charts, etc, on the internet that may help.

By now you should have a budget figured out – see what you can cut down, where you will be able to save.  Use coupons and take full advantage of sales.  You’ll probably find that during retirement, you’ll have more time than money, so make a game of coupons… and don’t forget to always ask for the good old “senior discount”!  Dick and I would feel really bad if we were to pay full price for anything anymore!

Just for the fun of it – go though last year’s financial records, and find out just what you actually spent for the year, and see where you can cut down.  And, even if you have unlimited funds, you should feel very proud not to just waste money.  And what a wonderful lesson to pass on to your children.

Now, you should be in full retirement mode – but – woops – what happens a little later…when the car needs a major repair, the roof starts to leak or the plumbing gives up the ghost and needs a major rework – or maybe your washer just stops in the middle of the spin cycle, never to spin again?  All those savings you’ve been able to put away will be a life saver.

Expenses don’t stop just because you retire, and hopefully, you’ll outlive your roof and your car!  Like the Boy Scouts – be prepared!

Just some more stuff    FYI:  Want to “Read” the economy?  You can do that – and I’m betting your research is as close to what’s actually happening and going to happen, as the professionals.

• When employment is rising (new jobs have been added or created) that’s healthy.
• When the manufacturing indicators (firms are getting orders for durable goods) are growing, that’s healthy.
• When Personal income and consumer spending is up (consumers have more money that they are spending) that’s healthy.
• Consumer confidence and consumer sentiment is going up, (consumers’ feelings about their own finances and the economy in general) that’s good.
• Gross domestic product is going up (everything the U.S. produces and consumes) – that’s good.
• Of course, the reverse is true – for those of you who have a glass that’s half empty.

A final thought:  If you happen to lucky enough to be coming into a little money – a raise, a bonus, a gift – seriously consider paying off your debts instead of just buying things you don’t truly need.  What a fresh wind will blow when you find yourself debt free – a very important step towards a happy retirement.  Oh – and if you have some cash left over – put it into your retirement fund or savings!