I just started volunteering for Meals on Wheels this past Monday and I have already learned something. Save for retirement or else.
Don’t get me wrong. Meals on Wheels is offering a great service for people in need. Drivers like me walk a lunch directly to the door of people in need. These are complete meals, but we are not talking about fine cuisine.
Monday’s lunch was a tv dinner of warmed up Salisbury steak with mashed potatoes and broccoli, a packaged piece of bread, a plum, a packet of butter, and a small carton of milk. Based on the smell, we are talking about an 88 cent tv dinner, not a Smart Ones or Lean Cuisine (which are pretty tasty in my opinion). A couple of the people I delivered to have disabilities and several just need the financial help of a free meal. But how much over-microwaved Salisbury steak and broccoli would you want to have when you’re in your golden years?
I personally have a much higher standard of living and plan on sticking with it. If I ever have a tv dinner when I’m 85 years old, I want to be able to look through my own freezer and pick the one for the day. I also want it to be a choice and not a financial necessity.
Here are my plans for retirement:
- One story house or all important rooms downstairs so our knees don’t suffer.
- Weekly trips to the grocery store or ordering groceries for delivery from places like Amazon or Schwan’s when we can’t get out as easily. I’m finding that using grocery shopping apps are saving us more money.
- Traveling every few months as long as we are physically capable.
- Host even more groups at home when we can’t travel easily anymore.
- Enough money to cover any health problems that pop up and give us a very comfortable end-of-life care.
Here’s how we are preparing for those plans:
- Keeping my 401(k) balance and watching it grow from my day job.
- A Roth IRA for me.
- A Roth IRA for my husband.
- My husband’s pension.
- Investing in stocks through Scottrade and researching stocks and shares ISA packages.
- I am now researching self-employment retirement account options as well as 401k conversion to roth IRA.
- Hash out all the medicare supplement plan options years in advance. I watched my parents struggle with this and I don’t want that.
I’m actually looking forward to my whole life, the 20’s are a ton of fun, but I think the 30’s, 40’s, 50’s, and retirement years will kick butt too. I just wish each year didn’t seem to go so fast.
What are your retirement dreams and plans? What are you doing to avoid needing Meals on Wheels?