This article got me thinking about my own retirement. I've been telling everyone I know that I'm not ending my teaching career to sit in a rocking chair and knit bootees, but rather I'm excited about a new beginning for me. Now I'll be able to do all the things I've always wanted to do but couldn't because I had to make a living and raise my daughters.
I think that most single women fear poverty. Without a man in our lives to help out financially, we can be driven to work and save for our old age. We give up a lot of fun traveling, going out to the theatre, dining out at elegant restaurants, buying gorgeous clothes, etc. Our first priorities are our children and our pensions. We worry that we won't have enough money to live comfortably when we have to retire.
Some articles state that you need 70% of your gross income to retire. But by planning carefully, that is not the case. If you are debt-free, it is possible to live on 35 to 40% of your gross income. We are no longer like our fathers. We are healthier, more fit, and our life expectancy is greater. We also desire to stay active as long as our health lasts. Also, we are probably the first generation of women that are retiring. Let's face it, most of our mothers stayed at home and looked after the house and our fathers.
The future will be very interesting for us as more and more women retire and set out on their own to live the last third of their lives to the fullest. Whatever our dreams, may we all reach for the stars!
