Test-Drive Your Retirement
Kiplinger's Personal Finance|February 2020
Before you quit your job, try out your new budget and your new lifestyle.
ALINA TUGEND
Test-Drive Your Retirement

BEV BACHEL, 62, IS TRYING retirement on for size. For years, Bachel, a freelance communications professional in Minneapolis, took on highly demanding contract jobs that typically lasted more than a year. She put in long hours, often managed other writers and had to be available for onsite meetings.

“A friend of mine said that when you’re self-employed, you never really retire. You just wake up and realize all your clients are gone,” she says. “I thought, Oh my God, I need to exert control instead of experiencing a slow decline into nothing.”

So, two years ago, Bachel decided to cut down on big projects, travel extensively—including lengthy trips to Panama during the Minnesota winters—and take on work that she could do anywhere, anytime.

She also watched her savings decrease instead of increase. “I have 40 years of ingrained patterns and being rewarded for saving versus spending,” she says. “Now I have to make a mental shift.”

HOW TO DO IT RIGHT

The idea of test-driving retirement—whether by cutting living expenses, staying for a few weeks at a potential retirement destination or hanging out at home for a week without work—makes sense to a lot of people. But it’s not easy.

“Test-driving retirement gets more attention in the press than it does with clients,” says Mari Adam, president of Adam Financial Associates, in Boca Raton, Fla. “I’ve had people do it in bits and pieces.”

Bu hikaye Kiplinger's Personal Finance dergisinin February 2020 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Kiplinger's Personal Finance dergisinin February 2020 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

KIPLINGER'S PERSONAL FINANCE DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
MAKING A DIFFERENCE IN THE LIVES OF DISABLED VETERANS
Kiplinger's Personal Finance

MAKING A DIFFERENCE IN THE LIVES OF DISABLED VETERANS

He suffered grave injuries in the line of duty. Now he helps other veterans who have disabilities.

time-read
2 dak  |
November 2024
DO YOU NEED UMBRELLA INSURANCE?
Kiplinger's Personal Finance

DO YOU NEED UMBRELLA INSURANCE?

A policy can protect you from financially devastating events.

time-read
2 dak  |
November 2024
Navigating Finances as a Blended Family
Kiplinger's Personal Finance

Navigating Finances as a Blended Family

Money matters can get complicated when two families unite. Planning is key.

time-read
4 dak  |
November 2024
BREAKING UP WITH YOUR BROKER
Kiplinger's Personal Finance

BREAKING UP WITH YOUR BROKER

Be aware of these challenges when you move your money to a new home.

time-read
5 dak  |
November 2024
CHOOSE A MEDICARE PLAN THAT'S RIGHT FOR YOU
Kiplinger's Personal Finance

CHOOSE A MEDICARE PLAN THAT'S RIGHT FOR YOU

Consider your health care needs over the long term as you weigh costs and coverage.

time-read
9 dak  |
November 2024
Keep Faith in These Stocks
Kiplinger's Personal Finance

Keep Faith in These Stocks

IN 1997, I coined the phrase “faith-based investing.” It has nothing to do with religion or with picking stocks at random.

time-read
5 dak  |
November 2024
OUR ESG PICKS ARE THRIVING
Kiplinger's Personal Finance

OUR ESG PICKS ARE THRIVING

Despite an ongoing backlash, our favorite stocks and funds focused on environmental, social and corporate governance issues had a good year overall.

time-read
9 dak  |
November 2024
MONEY MANNERS FOR THE MODERN AGE
Kiplinger's Personal Finance

MONEY MANNERS FOR THE MODERN AGE

The customs for splitting a restaurant check, purchasing a wedding gift, tipping and more have evolved. These guidelines can help.

time-read
8 dak  |
November 2024
ELECTION 2024: POLITICS AND YOUR PORTFOLIO
Kiplinger's Personal Finance

ELECTION 2024: POLITICS AND YOUR PORTFOLIO

Who wins the White House matters—but only at the margins when it comes to your investments.

time-read
2 dak  |
November 2024
YOUR GUIDE TO OPEN ENROLLMENT
Kiplinger's Personal Finance

YOUR GUIDE TO OPEN ENROLLMENT

With health care costs on the rise, it’s critical to select a plan that fits your needs at the right price.

time-read
7 dak  |
November 2024