Remember the Beatles song, “When I’m 64?” The lyrics are below to refresh your memory. Thinking about your own retirement, read them. When you get near the end of the song you will find:
We shall scrimp and save
Ah
Grandchildren on your knee
Is “Scrimp and Save” what YOU want?
Me neither.
What are your options? Some reports have been published answering this question. Take a look at this one from U.S. News and World Reports. This doesn’t speak to me but it might be meaningful to some. An article in the Blog “One Cent at a Time” says much the same thing but adds a few options.
I don’t know about you, but I don’t want to sell my stuff or walk dogs (I take mine to the dog park) or babysit. If I have to work, I want to do something that feeds my mind, engages my soul, and gives me joy.
Anyway, I would prefer sitting on the beach or beside the lake or traveling the world.
But I didn’t plan and provide for myself.
My question is this: “Why do you want to wait until you’re retired, to earn income for your retirement?
The time to plan for retirement is NOW. You’re only 21? 40 and doing well? So what? When you get older Social Security may be as extinct as the Dodo bird. Then what? Is what you are “setting aside” going to be enough? Do you have a good fortune-teller who can let you in on this secret?
The Time to Plan for Retirement is Now
We will be talking about this on a regular basis in this column. To get ready, begin to think about
- Your talents and abilities
![older couple in retirement]()
Activities that make your heart sing- What people are buying or wanting
- What you want retirement to look like for you
- How much time you have to invest outside your regular job (e.g., how much time do you spend watching TV, playing on FaceBook, etc.?)
Explore your options. Make a decision. Take action.
What about a “Side Hustle”?
Many seniors retire and only then discover that they can’t make financial ends meet. There just isn’t enough money for the things they wanted to do. In fact, there is barely enough money for the things they MUST have and do. Take inventory of your interests, talents, assets and possibilities. Maybe you can develop a “side hustle” that will fill the gaps.
Read the words to “When I’m 64” and see if that speaks to you. If not, get busy.
When I’m 64
Written by Paul McCartney and John Lennon
When I get older, losing my hair, many years from now
Will you still be sending me a valentine, birthday greetings, bottle of wine?
If I’d been out ’til quarter to three, would you lock the door?
Will you still need me, will you still feed me, when I’m sixty-four?
You’ll be older too
Ah
And, if you say the word, I could stay with you
I could be handy, mending a fuse, when your lights have gone
You can knit a sweater by the fireside, Sunday mornings, go for a ride
Doing the garden, digging the weeds, who could ask for more?
Will you still need me, will you still feed me, when I’m sixty-four?
Every summer we can rent a cottage
In the Isle of Wight if it’s not too dear
We shall scrimp and save
Ah
Grandchildren on your knee
Vera, Chuck, and Dave
