After 30 years, your spouse may not want you fiddling around the house, in the way, for an extra 10 hours a day. Plan your retirement. This does not necessarily mean a full schedule of volunteer work or projects. It means that you will need a reason for getting up and getting started in the morning. 4 Failure to realistically review your life insurance needs at retirement.
Many retirees simply keep the same insurance coverage they had as employees.
The mortgages are paid off and children's tuition balances have been paid. Re-explore your basic financial needs and discuss what the purpose of insurance is in your specific situation. Expecting to receive a full Social Security retirement based on your total Social Security earnings. The Windfall Elimination Provision will reduce the earned Social Security benefits of a federal worker who retired after 1985 by 40 to 50 percent. Adjust your retirement budget accordingly and work for repeal of the law.