BOSTON (CBS) – There are three questions every Boomer needs to be thinking about.

When are you going to retire? What are you retiring to? Where are you going to retire?

When are you going to retire? What’s the magic age for you? If you are coupled are you planning to retire together? If there is a big age gap, the younger partner may want to continue to work to accrue more retirement benefits of their own. If one partner is now at home do they shoulder more of the housework? Should they?

These are conversations you should be having with your spouse or partner long before the decision is made to leave the work force. You’ll need to figure out when you’ll have enough dollars so you can spend those years in retirement comfortably doing the things you once dreamed of doing. Start your planning at least 5 years before your retirement target date.

What are you retiring to? You could have 20-30 years to spend in retirement. That is a long time to plan for. And unlike the years between 40 and 60, the years between 60 and 80 bring with them a lot of physical changes.

Most of us need to feel good about what we are doing every day, so imagine a “month of Saturdays.” Is that what you want? You will probably get through the “Honey Do List” in about a year. So then what? Do you go back to school? Volunteer? Go back to work? Buy an RV and travel? Whatever it is you’ll need to do some planning.

Where are you going to retire? Do you downsize the family home? Do you move closer to the kids? Or your siblings? What about one of those exotic places we read about such as Spain or Mexico?

What about being a snowbird and coming home for the Red Sox’s’ opening game? Spending the winter months some place warm is a dream of everyone who has just survived this very crazy winter but do your planning. Do you buy an RV or rent a condo? If you are planning to move south year round, spend July and August in Florida or Arizona before you decide to buy.

Check out the tax laws of the state you are considering. Do you have friends or family in the new area that can help with the transition?

According to AARP, 90% of retirees stick close to home. Most retirees want to stay near their family and friends. They don’t want to leave their support system.


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