Dear Bernard,,

Where do you plan to live when you retire? Do you plan to be around children and grandchildren? Will you spend winter in warm climates? Would you buy a motorhome and travel from place to place?

We have had discussions with many relationships about these options and more. So many factors come into play with what your retirement actually looks like (as I have discovered recently, your health may be the biggest concern). Another comment we hear often is, "I'm so busy in retirement I don't know how I ever had time for work."

I feel that for most people the fantasy of "in far off places" and unlimited free time is just that. We become used to what we know, and tend to stay where we are comfortable.

We have also found that retirement activity falls into 3 areas we call go-go, slow-go, and no-go. In general, we found that each period lasts about 10 years each.

Go-go happens in the first 10 years or so. Your health is good, your energy is high, and you have the desire to do the things you have been waiting for and saving to do.

After a few years slow-go sets in. In this second 10-year period you may travel, but less often. Your tolerance for the headaches of travel seem to outweigh the benefits, and your health may not be what it once was.

No-go is just like it sounds. Been there, done that seems to be the mantra. The last 10-year period seems to be a much quieter time for retirees.

These, of course, are all generalizations. Everyone is unique and you may find you don't fit these stereotypes at all. So much of how you spend your retirement will also depend on your nest egg and your income vs. expenses.

I recently read an article implying how long $1.5 million would last depending on the state you lived in and an average social security income. Like everything else, averages are not your individual situation, but still it was an interesting read.

The span of years ranged from 17 to 54 years. West Viginia had the longest expectation and Hawaii had the shortest. Michigan was 46 years based on a $32,190 post-Social Security cost of living per year.

This article was from Foxbusiness.com. To read more or to look up other states I have placed a link below for you to follow:

SSI + $1.5 Million

As always, if you would like to talk through your retirement goals and plans give us a call. We would be happy to work through scenarios with you.

As always, thanks for reading.

Bernie & Chad