Retirement Team: Tax Advisor (CPA)
Continuing with last week’s blog “Retirement Warning: Don’t Go it Alone!” where I discussed the importance of building a Retirement Team to help with retirement and retirement planning. Today I’ll discuss The Tax Advisor (CPA). I’ll go over the core credentials and expertise to look for and give you a few questions you need to ask when choosing the right Tax Advisor (CPA) for your retirement team.
Choosing the right Tax Advisor for retirement planning is significant. Not all Tax Advisors are created equal. Finding a competent, trustworthy, and communicative advisor who understands your specific needs and with whom you feel comfortable can take time and effort. Poor communication or lack of understanding can lead to frustration and potentially poor outcomes.
What to look for when choosing the Right Tax Advisor
1) Relevant Credentials and Education: While certifications aren’t everything, look for tax professionals with specific credentials and a strong understanding of retirement related tax issues. Key designations include:
- Certified Public Accountant (CPA): CPA’s have met vigorous educational and examination requirements and are licensed by their state. They have broad tax expertise and will most likely be the person you’re looking for in a Tax Advisor.
- Tax Attorneys: Lawyers specializing in tax law. They can be valuable for complex situations, estate planning and potential disputes with the IRS.
2) Experience with Retirement Tax Planning: Inquire about the advisor’s specific experience in retirement tax planning. This is a specialized area with unique considerations like:
- Taxation of different retirement account types (401(k)s, IRAs, Roth accounts).
- Required Minimum Distributions (RMDs)
- Strategies for minimizing taxes in retirement income
- Understanding the tax implications of Social Security benefits
- Planning for potential tax law changes
3) Knowledge of Federal and State Tax Laws.
4) Understanding Your Specific Retirement Income Sources: The advisor should understand the sources of your retirement income (pensions, annuities, investment withdrawals, Social Security) and how each is taxed and tailor their advice based on your specific income streams.
5) Clarity of Fees and Compensation: Understand how the tax advisor charges for their services. This could be hourly, per form or a flat fee for specific services. Ensure the fee structure is transparent and you understand what you’re paying for.
6) Communication Style and Accessibility: Choose a tax advisor who communicates clearly and in a way you understand. They should be responsive to your questions and willing to explain tax concepts. Regular communication, especially regarding potential tax planning opportunities or changes is crucial.
7) Scope of Services Offered: Determine if the advisor offers the specific services you need, such as tax planning, tax preparation, estimated tax calculations and representation before the IRS if necessary.
8) Reputation and References: Check online reviews and ask for references from other retirees they have worked with. A good reputation and positive feedback are indicators of reliable service.
9) Ethics and Professional Conduct: Ensure the advisor has a strong ethical track record and adheres to professional standards. You can check for disciplinary actions with state licensing boards or professional organizations.
10) Comfort Level and Trust: You need to feel comfortable discussing your personal financial information with your tax advisor. Choose someone you trust and who makes you feel confident in their expertise and guidance.
Questions to Ask Potential Tax Advisors
- “What are your relevant credentials and your experience specifically with retirement tax planning?”
- “How are your fees structured?”
- “Can you explain the tax implications of my various retirement income sources?”
- “What strategies can you recommend to minimize my taxes in retirement?”
- “Are you familiar with both federal and state tax laws?”
- “What is your communication style, and how often will we be in touch?”
- “Can you provide references from other retirement clients?”
I have drawn from my own experience when planning for retirement and Gemini AI to help with this article. I was fortunate early on to realize I needed a team to help me in the retirement planning process and have continued with my team in retirement. Hopefully, the information I’m providing is giving you a good start to retirement planning and a wonderful retirement.
In the next post I will discuss the core credentials and expertise needed in an Estate Planning Attorney. I will also include some questions to ask when choosing this retirement team member.
Thank you for taking the time to read this article.
If you would like, please leave a comment below or you can email me at www.feedback@wewaonthenet.com.
I’m also starting a YouTube channel, www.youtube.com/@wewaonthenet where I will be discussing various retirement topics and topics I come across that I think may be of interest. Check it out!
Your Retirement Team: Financial Advisor-The Quarterback
In last week’s blog “Retirement Warning: Don’t Go it Alone!” I discussed the importance of building a Retirement Team to help with retirement and retirement planning. The article was getting a little too long so I decided to break this topic up into several different parts. Over the next few posts I will go over the core credentials and expertise to look for in each member of your team and give you a few questions you need to ask when choosing the right team member.
Today we’ll discuss The Financial Advisor.
- Fiduciary Duty: This is paramount. Look for an advisor who operates as a fiduciary. This means they are legally obligated to act in your best interest, putting your needs above their own or their firm’s. You don’t want someone that may not be totally committed to doing what’s best for you. Ask directly if they are a fiduciary and if they will commit to this in writing.
- Relevant Credentials and Education: While certifications aren’t everything, certain credentials demonstrate a level of expertise and commitment to professional standards. Certified Financial Planner (CFP) and Chartered Financial Analyst (CFA) are two of the most common credentials you will probably see. These credentials alone aren’t a guarantee of quality, but they show a baseline level of knowledge and commitment.
- Experience in Retirement Planning: Inquire about the advisor’s experience in retirement planning. Have they worked with clients in similar situations to yours? Do they understand the nuances of retirement and retirement planning such as: retirement income, healthcare cost, Social Security optimization and estate planning?
- Understanding your Specific Needs: The advisor should take the time to thoroughly understand your unique financial situation, goals, risk tolerance, time horizon and concerns about retirement. Watch out for cookie-cutter solutions but rather look for someone who tailors their advice to your individual circumstances.
- Clarity of Fees and Compensation: Know exactly how the advisor is compensated. Are they fee-only (charging a percentage of assets under management, hourly or flat fee), fee-based (charging a combination of fees and commissions) or commission based? Fee-only is generally considered the most transparent and least prone to conflicts of interest.
- Communication Style and Accessibility: Choose an advisor you can communicate with. Are they clear, patient and responsive? How often will they communicate with you and can you easily reach them when you have questions or concerns?
- References and Reviews: Ask for references from current clients and check online reviews. This can provide insights into the advisor’s reputation and client experience.
- Transparency and Honesty: The advisor should be transparent about their qualifications, fees, potential conflicts of interest and risks associated with any recommendations.
- No Guarantee of Higher Returns: While a good advisor can help you make sound investment decisions, they cannot guarantee higher returns or protect you entirely from market downturns. If someone is guaranteeing or promising higher returns or no-risk investments be very cautious. This is probably not the right advisor for you!
- “Gut Feeling” or Comfort Level: Ultimately you need to feel comfortable and trust your financial advisor. This is a long-term relationship, so choose someone you feel understands you, listens to your concerns and acts in your best interest. Don’t underestimate the importance of personal rapport.
Questions to Ask Potential Advisors
“Are you a fiduciary and will you commit to acting in my best interest in writing?”
“What are your relevant certifications and experience specifically in financial planning?”
“How are you compensated? Please explain all the fees clearly.”
“What is your investment philosophy and how will you tailor it to my risk tolerance and goals?”
“How often will we meet and what kind of communication can I expect?”
“Can you provide references from current clients?”
“What is your process for developing and reviewing a retirement plan?”
Choosing the right Financial Advisor for retirement planning is significant. Not all financial advisors are created equal. Your financial advisor will probably be the quarterback of your team. Finding a competent, trustworthy, and communicative advisor who understands your specific needs and with whom you feel comfortable can take time and effort. Poor communication or lack of understanding can lead to frustration and potentially poor outcomes.
I have drawn from my own experience when planning our own retirement and Gemini AI to help with this article. I was fortunate early on to realize I needed a team to help me in the retirement planning process and have continued with my team in retirement. Hopefully, the information I’m providing is giving you a good start to retirement planning and a wonderful retirement.
In the next post I will discuss the core credentials and expertise needed in a Tax Advisor. I will also include some questions to ask when choosing this retirement team member
Thank you for taking the time to read this article
If you would like, please leave a comment below or you can email me at www.feedback@wewaonthenet.com.
I’m also starting a YouTube channel, www.youtube.com/@wewaonthenet where I will be discussing various retirement topics and topics I come across that I think may be of interest. Check it out!
Retirement Warning: Don’t Go It Alone!
Dreaming of a comfortable retirement? Don’t go it alone. It’s time to start building your retirement team of advisors.
Many of us underestimate the complexity of the financial and lifestyle shifts that come with retirement. Retirement planning is multifaceted and involves areas where specialized knowledge is beneficial and needed. It’s not a sign of weakness to seek help but a sign of being proactive and wanting the best outcome for your future.
Starting retirement, especially without a team, can feel overwhelming and lead to costly mistakes. Professionals can provide specialized knowledge and advice on investment strategies, tax planning, estate planning and other aspects of retirement.
Building a retirement team of professional advisors is crucial before retiring to ensure a well-structured and secure financial future. A team approach allows for more comprehensive planning ensuring all areas are addressed. Your team can help you stay on track with your retirement plan and provide support as you transition into retirement. Lastly and maybe most important, your team of experts can alleviate much of the stress and uncertainty associated with retirement planning and into retirement.
When I decided to retire, my Kindle was full of books on retirement, the math showed we had saved enough but I couldn’t help but worry that I must be missing something. I had always made my own investment decisions and done ok, but retirement seemed different. A few years earlier, I quit doing my own taxes which proved to be a good decision. It was my CPA that suggested I talk with a financial advisor to help with our retirement planning. I was somewhat reluctant but I thought what could it hurt. After talking to him, I quickly realized retirement planning was far more complex than I anticipated.
I knew to be successful I needed to surround myself with the best advisors I could find. I felt as if I was a coach without any players. In my working career, whether as a team member or team leader, we always had the most success when we had all-star players and worked as a team. So, I started building my team, maybe a little late, but a couple of years before I retired. My team was in place by the time I retired and so far retirement is mostly going as planned.
So, this is the way I’m looking at its my retirement team. To be successful I need the advice and help from my team of advisors. I’m still the coach and the final decisions rest with me (at least as long as I’m competent). So, with good advice, a well prepared plan and proper execution we should have the best chance for a successful retirement.
Here’s who you should have on your retirement team!
- Financial Advisor (Retirement Specialist): Retirement finances are often more complex than in the accumulation phase. Navigating Social Security, IRA and 401(k) withdrawals, required minimum distributions (RMDs) and generating sustainable income requires expert guidance. The Financial Specialist is often the quarterback of the team and will have deep knowledge of the unique challenges and opportunities retirees face.
- Tax Advisor (CPA): Taxes can significantly impact your retirement income. Proactive tax planning can save you a substantial amount of money over the long run. A Tax Advisor helps navigate the often intricate tax implications of retirement income, including Social Security taxation, IRA and 401(k) withdrawals, capital gains and potential state taxes. They can also assist with tax-efficient planning and withdrawal strategies.
- Estate Planning Attorney: Retirement is a time to think about legacy planning and protecting your loved ones. Proper estate planning provides peace of mind and avoids potential legal complications. An Estate Attorney assists with creating essential legal documents such as wills, trusts, power of attorney (for healthcare and financial matters and advanced directives). This assures your wishes are respected and your assets are distributed according to your plan.
- Healthcare Advisor/Insurance Specialist: Healthcare cost are a significant concern in retirement. Understanding your options and having adequate coverage is essential for financial security and well-being. A Healthcare Advisor helps navigate the complexities of healthcare in retirement, including Medicare options, Medigap plans and potentially long-term care insurance. They can help you understand your coverage options and help you make informed decisions about your healthcare insurance needs.
- Lifestyle/Retirement Coach (Optional but Valuable): Retirement isn’t just about money, it’s a significant change in the way you think about the future. A coach can provide guidance and support in creating a fulfilling and meaningful post-career life. A Lifestyle coach will focus on the non-financial aspects of retirement, such as finding purpose, structuring your time, exploring new hobbies, maintaining social connections and navigating the emotional transitions of leaving the workforce.
How to build your retirement team!
- Start Early: Begin building your retirement team several years before your planned retirement date.
- Do Your Research: Read articles and books, watch videos, listen to podcast, attend seminars and talk to trusted friends and family who have retired to learn more about the professionals you need.
- Interview Potential Professionals: Meet with several financial advisors, accountants and estate attorneys to find the best fit for your needs.
- Consider Cost: Factor in the cost of professional services when making your decisions.
- Communicate Regularly: Stay in regular contact with your team members to ensure that your plan is up-to-date and you are achieving your goals.
You don’t need to assemble your entire dream team overnight but don’t put it off to long. Good decisions made 3 to 5 years before retirement can dramatically affect the timing and success of your retirement. If you’re getting close to retirement, understanding your income options and tax implications might be the top priority. You should probably seek a financial advisor and tax professional first.
If you’re still hesitant to start building a team or thinking you can continue doing your retirement planning yourself, as I was, I encourage you to start with a fee-only financial advisor who acts as a fiduciary. View this advisor as an investment and not an expense. This advisor can help you identify any mistakes or shortcomings in your plan and advise you on other areas where specialized expertise might be needed.
Even if you’ve already retired, it’s not too late to build your Team of Advisors. Getting professional guidance at any stage of your retirement journey can be beneficial.
Early planning for retirement and having your dream team of experts working with you will help ensure your retirement years are the best they can be!
Over the next few posts, I will explain the core credentials and expertise to look for in each team member. I will also give you a few questions to ask when choosing your team.
Thank you for taking the time to read this article
If you would like, please leave a comment below or you can email me at www.feedback@wewaonthenet.com.
I’m also starting a YouTube channel, www.youtube.com/@wewaonthenet where I will be discussing various retirement topics and topics I come across that I think may be of interest. Check it out!
Credit Card Interest: It’s a “Fine” for Overspending!
Hey, everyone, let’s talk about credit cards or more specifically the fees we’re charged for spending more than we earn. This is a topic I’ve been putting off for a while, but if you’re retired, planning retirement or having trouble managing your credit card spending, it’s time to talk. I’m going to give you my thoughts on credit card spending and the cost of spending more than you have or make.
I’m not here to bash credit cards. In fact, when managed properly, credit cards can be really useful. But there’s a “trap” many of us fall into: Credit card companies make it too easy to overspend (spending more than we actually have or make). When we can’t pay the bill at the end of the month, well, that’s where the fees begin on any unpaid balances.
Banks and credit card companies call it “interest” but I think of it more as a Fine – a financial penalty for spending money you don’t have or haven’t earned yet.
Think about it. When you swipe your credit card for something you can’t immediately pay for with your current earnings, you’re really borrowing against the future. So, the credit card company says “Hey, you spent more than you made, so you’re going to have to pay a little extra for that privilege.”
This privilege is the interest you pay on the unpaid balance, which is the cost of overspending or as I think of it an “Overspending Fine”.
These “overspending fines” can really add up. The more you overspend and the longer you take to pay it off, the more interest “fines” you’ll accumulate. It can trap you in a cycle where a chunk of your payments goes towards these penalties instead of actually reducing what you owe.
Transunion Credit reports the average credit card balance is $6,580 and CNBC is reporting the average credit card rate is 20.12% APR. So, if I do a little math the average overspending fine is $1,323.90 per year or about $110.00 per month.
If you don’t know your credit card unpaid balance or percentage rate, take time in the next few days to get your statement out and find your rate and balance and do the math. I think you may be surprised just how much you’re paying in overspending fines.
Thinking of interest as a “fine” for overspending should be a wake-up call. It shifts the focus from just another fee or number on the credit card statement to a direct result of our spending habits. Calling it a fine might sound harsh, but It highlights the consequence of not managing our credit cards responsibly. It’s not some abstract percentage, it’s real money coming out of our pockets!
So, how to avoid this overspending fine?
- Spend less than you earn! Create a budget and stick to it!
- If you do use your credit card, aim to pay off the full balance each month.
- Be mindful of your spending habits. Are you using your credit card to buy things you really don’t need?
- Addressing these habits can help you avoid overspending and the resulting “fines”.
And if you find yourself paying a fine each month what can you do? Commit to:
- Stop spending more than you earn! You must create a budget and stick to it!
- Focus on aggressively paying down the unpaid balances to minimize future “overspending fines”.
- Consider strategies like balance transfers to lower your interest rates and reduce the fine amount while you pay down your debt.
- If you need help, find a qualified (preferably non-profit) credit counselor to help you develop a plan to get this debt paid off and get your spending habits back in order.
So, let’s change how we think about credit card interest. It’s not just a “cost of borrowing” it’s a fine for spending more than we’ve earned. By understanding this connection, we can become more conscious of our spending habits and take steps to avoid these unnecessary financial penalties.
So why do I think this is such an important topic for retirees and those planning retirement?
When I was planning for retirement, the biggest variable in our expenses was the credit card expense. Like many people our age we don’t carry much cash, so nearly everything we buy goes on the credit card. (We don’t use debit cards, which I’ll discuss “why” in a future post.) Our credit card bill typically is our largest monthly expense. I knew in retirement, once we were on a fixed income, managing our use of credit cards would become very important. There certainly would not be room in our budget for any overspending fines.
Our plan is to fully pay our credit card bills each month. We will do our best not to spend more than we’ve budgeted, but if something does come up, we have an emergency fund for these expenses. If for some reason our plan fails, I look at our paid off credit cards as a short term safety net to use while we adjust.
If you’re retired or getting ready to retire and finding credit card expenses to be a problem, I hope this article has been of some help. Now is not a time for wasteful spending. Overspending fines are wasteful and should be avoided. It’s not too late to change any bad spending habits you have but you must start today. Quit spending more than you earn and aggressively work to have no (zero) debt in retirement so you can fully enjoy your golden years and have the retirement you’ve always hoped for.
What are your thoughts on this perspective?
Does it change how you view credit card spending?
Let me know!
Thank you for taking time to read this article.
If you would like, please leave a comment below or you can email me at www.feedback@wewaonthenet.com.
I’m also starting a YouTube channel, www.youtube.com/@wewaonthenet where I will be discussing various retirement topics and topics I come across that I think may be of interest. Check it out!
Quietly Thriving: My Introvert Journey Through Retirement
Since retiring nearly three years ago and now starting a YouTube channel I’ve been doing a lot of thinking about retirement, which is an exciting new chapter I’m stepping into.
If you know me or seen my previous videos or blogs you’ve probably guessed, I’m a pretty big introvert. So I’ve been thinking as an introvert how will I do in retirement. If you’re an introvert maybe you’ve been wondering the same thing. Hopefully, I have some thoughts that might alleviate some of your fears.
Funny thing is, throughout my career, I really pushed myself to be more outgoing. Trying to speak up more in crowds, joining a few civic groups and even tackling public speaking (which, let me tell you, was always a bit of a hurdle!). I think a lot of us introverts feel that pressure to be a little less… well, introverted.
But now that the work life is winding down, a question keeps popping into my head: how will this whole retirement thing really be for an introvert like me? Will I end up like a modern-day Howard Hughes, happily (or maybe not so happily) tucked away at home? I am a homebody, no doubt about it, and cherish my alone time. There’s nothing quite like it for recharging my batteries.
But the thought of becoming completely reclusive? That’s not really what I want either. I absolutely love spending time with my family and friends. Nothing better than cheering on the grandkids at their activities. And Anita and I are really looking forward to exploring some hobbies together, like getting our hands dirty in the garden and maybe even doing a little more traveling.
So, being the curious soul I am, I decided to ask my new AI buddy, Gemini, “How do introverts do in retirement?” Seriously, this AI stuff is pretty cool! And it came up with some really interesting points, both the good and the… well, the potentially challenging. Let me share what it said:
The Upside for Us Quiet Types in Retirement:
- More Say in Socializing: Finally! No more forced water cooler chats or endless meetings. Retirement means we get to choose when and how we socialize. It’s about those meaningful connections that actually give us energy, not the ones that leave us feeling drained.
- Alone Time (My Happy Place!): This is a big one for me. More time for reading, maybe getting back to writing, tending to the garden, or just simply enjoying the quiet of my own company. Sounds pretty good, right?
- My Schedule, My Rules: No more rigid routines dictated by work. We get to design our days in a way that truly fits our energy levels and what we feel like doing. (I’ll discuss this a little later.)
The Potential Bumps in the Road (and How We Might Navigate Them):
- The Loneliness Factor: Okay, this is a real concern. While we love our alone time, too much of it can be isolating. Gemini suggested making a conscious effort to maintain those important connections. Maybe scheduling regular coffee dates with a friend or making sure we’re there for those family gatherings.
- Losing Structure: Going from a structured workday to wide-open days can be a bit disorienting. Gemini’s advice? Create a flexible but still somewhat consistent routine. Include time for both solo activities and those chosen social moments.
- Feeling Invisible: This one resonated with me. Sometimes, when you’re not in the hustle and bustle of work, you can feel a bit… unseen. Gemini suggested actively participating when we feel comfortable, even if it’s just sharing a thought here and there. It’s about finding our voice in our own way.
So, how do we make this retirement thing work for us introverts? Here’s a little recap based on Gemini’s wisdom and my own thoughts:
- Embrace That Quiet Time: It’s our superpower!
- Be Picky About People Time: Choose quality over quantity.
- Dive Deep into Solo Hobbies: Now’s our chance! (to do the things we want to do)
- Volunteer Wisely: Find something meaningful that doesn’t drain us.
- Make Our Home Our Sanctuary: A comfortable and peaceful space is key. (This has never been a concern. As I traveled all over the country during my career, I was always ready to get back home. Anita made our home always feel homey (if that’s a word) Our home is our comfortable and peaceful space and I have Anita to thank for that.)
What I’ve Done So Far and My Final Thoughts
After a few months of kicking around the house, napping a lot and getting in Anita’s way, I decided I needed a normal routine. So I went out and rented a small office in an Executive Office Building just a few blocks from the house. I got a desk, printer, TV and a couple of chairs and set up an office. So now, each morning I get up early and go to the office, pay some bills, do some reading, watch the business channel, write a blog post or two each week and now work to grow my YouTube channel. I have a chance to be around some like minded business people in the office to discuss topics of the day and when I need time alone I can just shut my door. Perfect! I’m home for lunch around 11:00 and back to the office if I feel like it around 1:00 if not I’m done for the day. This is probably the best thing I’ve done so far.
As far as gardening, I showed last summer I’m not the one in the family with a green thumb. So this year Anita is going to take charge of the garden and I will be the helper. We’re expecting much better results.
Honestly, I’m feeling pretty optimistic about retirement as an introvert. It feels like a chance to finally lean into who I truly am, to enjoy the quiet moments, and to connect with the people I care about on my own terms. It might take a little figuring out to find that perfect balance, but I really believe we introverts can absolutely thrive in these unwinding years. Here’s to a peaceful and fulfilling retirement for all of us!
Thank you for taking time to read this article.
If you would like, please leave a comment below or you can email me at www.feedback@wewaonthenet.com.
I’m also starting a YouTube channel, www.youtube.com/@wewaonthenet where I will be discussing various retirement topics and topics I come across that I think may be of interest. Check it out!
The Circle of Life: Is Retirement Our Second Birth?
An old college pal called to share the exciting news that he was going to be a grandfather. His voice was filled with happiness and excitement. For some reason, it started me thinking about the similarities between child birth and retirement from the viewpoint of a baby and a retiree.
Transitioning into retirement is like being a baby before it’s born. I must be getting old, I can’t remember much before I was born. But I can picture a baby pre-child birth sitting in a cozy, warm space, growing and sucking its thumb, unaware of the future that awaits.
As it gets closer to delivery day, the baby starts to realize things are changing, the space becomes a bit cramped, and they hear their mother’s comments about “tired of being pregnant” and “it’s time to be born”. The day finally arrives, and they realize they’re leaving their familiar space. It’s a bittersweet moment, as they’ve spent their entire life in that space.
Some of us were ready for this transition and embraced it with ease. It was like a natural part of life, and the delivery was no big deal. However, others of us found it more challenging. We may not have been ready, felt a bit scared or needed more time, so we resisted the change. We knew we had to go, but we held off for hours, usually kicking and screaming when we finally emerged.
This transition into retirement is similar to the one we face when we leave the workforce. Work and life centered around work may be all we know. For many of us, it’s like the warm and comfortable womb of our lives. But then, we start to realize that things are changing. We begin to think about when we should retire. Friends and colleagues ask us when we’ll make the change. Some of us are ready to embrace it, while others may not be.
Some of us have worked long enough and are ready for some deserved rest and relaxation. Others may not be ready yet and feel they need a few more years to prepare. The transition can be long and tiresome. We may not have done the necessary preparations to make the transition easier. While others genuinely enjoy their work and may not want to leave it behind, but that day will come, whether we’re ready for it or not, just like when we first came into this world.
As I’ve gotten older, I’ve noticed that I’ve become more childlike. I’m not back to sucking my thumb or pooping my pants but I can’t do all the things I did just a few years ago. I know as the years progress, I will require more help and guidance from others no matter how hard I try to resist. Maybe there’s something to this idea of the Circle of Life. We start as new born babies kicking and screaming, grow up, transition into adulthood, and then eventually retire, becoming like babies again in our own way.
Thank you for taking time to read this article.
If you would like, please leave a comment below or you can email me at www.feedback@wewaonthenet.com.
I’m also starting a YouTube channel, www.youtube.com/@wewaonthenet where I will be discussing various retirement topics and topics I come across that I think may be of interest. Check it out!
Retiring: Finding My Political Voice
I’ve always kept my political views mostly to myself. After working in the corporate world for so long, I learned that talking politics can be a bit tricky. It’s like they discourage or don’t even want to hear about people’s personal opinions, especially if they differ from the company’s.
I was lucky to work for companies that had strong moral values and good corporate cultures. But over time, I started to notice some changes. The entrepreneurial spirit that made those companies great was starting to be pushed aside because of company politics, groupthink and decisions made at the top level, not the local level. I believe many of the best decisions are made at the local level, where you can actually talk to the customers and understand their needs. However, the trend seems to be corporate knows best.
And it’s not just business. It seems like more and more decisions are being made in Washington DC by the political elite, and they’re not always making the best choices. I’ve seen it happen in business, and I’m afraid it’s happening in politics too. It’s like they’re driven by political gain, groupthink, and money, not by what’s best for the American people.
It’s sad because decisions that would be better made at the local level, where you can actually understand the problem and the people affected, are being made by politicians and bureaucrats who don’t even know where West Texas is.
Some government oversight is needed, but it should be just that, oversight. The federal government and its bureaucrats should focus on helping us live our lives, not telling us how to live. Remember, just like in business, it’s the people, not the government, that makes America great.
The whole idea of American exceptionalism and thought, especially if it’s different from the government or certain political parties, is not really encouraged or tolerated. Even my neighbor doesn’t want to hear my political opinions if they differ from his. It’s like we’re all living in our own little bubbles. Debate of ideas and politics may be a thing of the past.
While I kept my political views to myself, I now regret not being more vocal. I’m hopeful that things will change, but I realize that until we start expressing our views, nothing will change. Just voting isn’t enough. We need to speak up, call or write our elected officials and let them know what we think. We all can do more!
Thank you for taking time to read this article.
If you would like, please leave a comment below or you can email me at www.feedback@wewaonthenet.com.
I’m also starting a YouTube channel, www.youtube.com/@wewaonthenet where I will be discussing various retirement topics and topics I come across that I think may be of interest. Check it out!
Find Something to Else to Do!
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Keeps your Mind Active
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Provides a Sense of Purpose and Accomplishment
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Offers a Creative Outlet
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Can be a Fun and Engaging Hobby
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Technical Challenges
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Time Commitment
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Privacy Concerns
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Potential for Negative Feedback
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Feeling of being overwhelmed
Chat with a Friend who’s Retiring
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I wish I had included my wife more in the retirement process. I failed to consider how much me retiring would affect her and her lifestyle.
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I also realize how much work had become my identity. Since retirement, I’ve had to find a new sense of identity and purpose in life.
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Health and mortality awareness have become really important to me. I’ve been thinking about it a lot lately.
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Lastly, having to create a new social network. I’ve been surprised how little time I spend with my friends I worked with for years.
Tackle Your Debt Before it Ruins Your Retirement
- Creating a detailed budget
- Identify areas you can cut back
- Start aggressively paying down the high interest debts first
This will usually begin with paying off any credit card debt as a top priority. You may consider consolidating debts or balance transfer options to lower interest rates. If you find this task overwhelming or impossible to achieve you may want to seek out an experienced and qualified Financial or Credit Counselor to help with the process.
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