Money managent in retirement ... and an invisible problem
I've been reading "Finances After 55: Making the Transition from Earning a Living to Retirement Living" by Sylvia Lim, CFP, CGA, one of many useful books published by Self-Counsel Press.
It's aimed at both U.S. and Canadian potential retirees and gives ideas about goal setting, assessing net worth, evaluating investments, sources of income and financial requirements through active, semi-active and passive periods during a couple's retirement years, housing choices, using one's home to finance retirement and estate planning.
There's one glaring omission from her discussion, though, it seems to me. She makes no mention of the potential difficulties that inflation may (almost certainly will) pose for retirees and what they thought would be assets adequate to see them through all the years of retirement comfortably.
A book that hasn't involved money leaving my (retiree's) wallet - have you noticed that some retirees' wallets seem to have been trained to resist opening somewhat? - as I borrowed it from the library.
Better watch it's due date, though, as recently I had to pay a fine on some overdue ones.
I call that "SML" -"Stupid Money Loss" ... no, not really, as the money isn't stupid: how about "ML-S", "Money Loss - Stupidly"?
Hold on a minute - don't I want to see a vibrant, progressive, solvent library? Shouldn't I be willing to help pay for it, without grousing? Especially since my library card is free and entitles me to use all of its services.
Have an interesting week, everyone.