BOSTON (CBS) – We talked about Retirement Myths a couple of weeks ago and this week it’s the realities of retirement.

Retirement is a very scary place and I am thinking I am never going to retire. But I am going to get old so I may be facing some sort of retirement trauma.

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So before you start retirement for real, consider a dress rehearsal to see if you are really ready to retire. I have seen many retirees flunk retirement. If you can do it I do believe it is worth the time, energy and money to try and create a retirement dress rehearsal.

If you were thinking of downsizing, do it now while you can still carry boxes up and down stairs. Are you ready to part with all of your stuff?

Do you have unused vacation time or sick time that you can use? Try living the retirement life for a month or two.

Finances are a big factor in retirement. Calculate what your sources of income will be and try living on that amount for 6 months to one year. How tight is it? Can you still do the fun things you had planned? Travel? Fun weekends away? Gifts for the grandkids?

Do you need to work longer and accumulate more benefits? It is easier to continue working than find a new job post retirement. Will you need a part-time job in retirement?

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What are you going to do with your time in retirement? It will be Saturday every day! Get a monthly calendar and spend some time filling in the days. House renovation? Golf? Travel? Gardening? Volunteering? Grandkids? Hobbies? Watching TV? Studies have shown retirees increase their TV time.

If you want to live some place warm like Florida or Nevada try your dress rehearsal in July and August. 120 degrees is still 120 degrees no matter how dry it is! And if it’s Burlington, VT try living there one winter. It is deceptively beautiful in the summer!

If you are coupled do you like being together 24/7? Do you have other interests that give you time apart?


You can hear Dee Lee’s expert financial advice on WBZ NewsRadio 1030 each weekday at 1:55 p.m., 3:55 p.m., and 7:55 p.m.

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