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Retirement options considered PDF Print E-mail
Written by Holyoke Enterprise   

Though many people are delaying retirement, the day will still come when they leave their jobs behind and retire. Retirement can be a difficult adjustment that takes some getting used to, but it can also prove an exciting time, especially for those who planned ahead to ensure their retirement was a time to be cherished and not feared.

Whether retirement is right around the corner or still a decade or so away, men and women should consider several factors to make sure their retirement years are an enjoyable time that allows them to live life to the fullest.

—Income: Just because they’re no longer working doesn’t mean retirees won’t have income. Government benefits, retirement accounts and perhaps even some light consulting work are just a few ways retirees can earn an income. Though their retirement income will likely pale in comparison to the income as an adult working full-time, they should estimate what that income will be so they can get at least an idea of how much will be coming in each month.

—Monthly expenses: Once they have an idea of what’s coming in, they should estimate how much will be going out each month. Certain costs associated with working, such as the cost of commuting and maintaining a professional wardrobe, can be removed from the ledger. But other expenses, including utilities, car payments and possibly even a mortgage payment, will still need to be made.

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Holyoke Enterprise October 10, 2013