From his experience going through the process of planning and preparing for retirement, The Retirement Manifesto founder, Fritz Gilbert, shares his 5 simple steps about how to retire successfully.
As he points out at the beginning of the article, “While these may be 5 “simple” steps, if you do them right they’ll be anything but easy. However, getting the decision correct on when you can retire is an important one, and it’s critical that you check these 5 boxes before finalizing your decision to retire.”
What is also important to point out from the article is 1) Fritz is a number guy, so planning for this side of retirement is something he understands and enjoys doing. If this isn’t your thing, it is good to understand the numbers, but this is really where your financial advisor can be of great help. And 2) As the author point out from experience- “While many people focus on the financial aspects of retirement planning, I’ve discovered that it’s really the non-financial aspects that will make your retirement a rewarding experience. The primary difference between those who struggle in retirement vs. those who enjoy the transition is this step (Step 5). “
I totally agree- and from my experience, more people struggle with the non-financial side of planning for retirement than they do with the financial side. It takes planning for both of these to create a happy and successful retirement.
So, in his list of the steps, focus your attention on steps 1 and 5. He also includes links to some of his other non-financial retirement articles to help understand the importance of planning for the ‘other side of retirement.’