Thanks for adding this board. It would seem it can be extremely informative, time will tell.After being retired for one year, I now know more about my personal finances than ever before. I never took time to know how much money I had or how it was invested. Thankfully, at the urgeing of my wife, I hired a financial planner some 15 yrs. ago. Between the two of them I was able to retire with no debt and a enough money to live comfortable. But I must say it has been stressful!! The first six months all I did was worry about stock market ups and downs, and where my money was invested and at what risk level. I am just now beginning to feel at ease that the wife and professional planner knew what they were doing.I would strongly urge anyone nearing retirement to know exactly how you will invest your pension long before the actual day you have to make the final decision. In my business life I really was great with financial decisions. In my real life I am a dud.Anyoe else experience this?
>I hired a financial planner some 15 yrs. agoAll I can say is I wish I had.I was caught in a downsizing late last year, and while not totally unexpected, I was nowhere near prepared (but thought that I was)Took some real fast education, some planning/statusing tools (my first copy of quicken for the home computer all though I had been using there finacial planner for about the previous 2 years to get a feel for how I stood as far as my assets were concerned).So the first part of this year had been way hectic, but sorta fun and wow did I sure have to do a whole lot of deciding about things that I never would have dreamed of. Hell I just found out about this 70 1/2 withdrawl thing about a few months ago.But the good news is that as a result of saving for a whole lot of years (in company plans including 401K) and luck, I am pretty sure that between the pension I am getting and the savings that I had, I probably will be ok.lol, and that includes getting a 16 year old and 13 year old through college (probably not Harvard or Stanford though)oldred22
<< In my business life I really was great with financial decisions. In my real life I am a dud. >>Welcome to retirement. It just goes to show the business world is a reality buffer, a separate entity even. I operated within the confines of my career responsibilities and spent too little time planning my future as well as I could have.It also gives an indication of how much energy and attention is needed today to keep performing in the workplace. You suddenly wake up and realize things are different!You are probably no dud, you just have some catching up to do.H.
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