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  • Writer's pictureGalia Gichon

What Does Retirement Look Like For You?

I listened to a great podcast about women planning their own retirement which prompted this article!  If you are focused on your empowerment (who isn’t?), it’s time to TAKE CHARGE and sign up for the Woman’s Compass Forum course.  It starts Sept. 8th and the early bird price is until Aug. 25th. Don’t miss out - we already have a great group of women signed up!

I work with many entrepreneurs, artists, and freelancers and I’ve learned that retirement looks different for different people. Before I get to the nitty-gritty numbers, it’s really important to answer the questions about your dreams. They will affect the numbers portion.  Finally, this is an exercise that will change as we get older so do it every year. If you are married or in a partnership, it is especially important to do WITH your spouse/partner.

Dream Questions

  • Where do you want to live? Different state? Out of the country? Near family members? City, Country?

  • Do you want to stay in your home? 

  • Do you want to keep working (because you love what you do!)?

  • What do you look forward to doing the Most in Retirement? I.e. buying a boat, learning to paint, playing golf, volunteering

  • Do you want to spend money on experiences or material possessions (i.e. new car every few years vs. travel)

Numbers Portion

  • Will your mortgage be paid off?

  • Do you really know your monthly expenses? Expenses in retirement tend to be the same these days. Medical expenses are higher, people in retirement spend the same.

  • We think about retirement much more differently than when we are young.  We tend to really start thinking about it in our 40’s.

  • Have you gotten a recent social security statement? When should you start taking social security?

  • Do you still have kid’s college to plan for?

  • Any chance you have a pension? Very few of us do but if you worked for a large corporation or non-profit or teacher for example.

  • How long do you need your money to last? The calculator I use assumes age 92.

  • Check out this retirement calculator.  It’s my favorite! 


  • Make your retirement savings a line item in your expenses.  It’s as important as your mortgage or car payment.

  • I keep saying this but… are all your old retirement plans in one place?

  • Saving for retirement creates choices.  It doesn’t mean that you will or won’t work.  It just means that you are creating options for yourself as you get closer to “retirement”.

  • What does one million dollars look like to you? See really how far it goes to change your life.

Want empowerment, accountability, and community around your personal finances, legal health, and self-care? Want these results for yourself? Register for Woman’s Compass Forum starting Sept 8!

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