1. Don’t rush into downsizing your home
This is one of the first mistakes retirees make in order to have a smaller place and, of course, less money to pay for the utilities. But is this the best idea? What about pressing the pause button on this idea simply because it’s not the wisest thing to do? If you have already paid your mortgage, you really need to consider the idea of moving to a smaller place.
Keep in mind that it might be expensive to downsize and also that moving to another neighborhood might be a weird move since you’ve spent a good part of your life in this place. No one said that moving is a bad thing. Just take it easy and don’t make a mistake by rushing things along.
Stop worrying and pull the plug to the employer. We retired at 59 with zero plans. Got lucky sold our home and was able to purchase another cash. You have to eliminate all debt including housing.
This is just trying to promote CA. CA is not a good place to live if you work. San Francisco is passing a reparations bill. If you have income, you will be paying people of color $5 million each because “they are oppressed”. A lot of working people will be leaving CA because they do not agree that anyone in the USA deserves a free ride.
Hopefully there will be a lot more help for retirees due to the rising cost of EVERYTHING. People that have worked ALL of their life and paid taxes deserve a bit more.
This world is controlled and guided by MONEY so if you don’t have any get ready to suffer in more ways than one.
Hurrah!! for all of the past workers of this dying country. In God I trust…..
Good Basic overview of retirement issues. While everyone wants to retire early, money and healthcare are the two biggest items that everyone should spend time analyzing before pulling the work plug. After 5 years of retirement, I still maintain a budget that is reviewed periodically to see how well we are doing. As for healthcare the biggest challenge is finding a supplemental plan that will meet your needs and is affordable.
Most of your info was helpful, but believing you should retire in California is definitely a Big NO! Everything in California cost triple the amount you pay in most all of the other states. They have ran out of water, traffic is atrocious in most areas, now they are having Blackouts! Please do not encourage anyone to move to California!