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Plan Well, Retire Well

Saving and investing your money

Planning for what if ...?


Pay the bills, cook dinner, help with homework ... we get the daily "to dos" done (mostly) but do we take time to plan for the future? Today I was teaching a lesson called Planning for "What If...?" as in what if I'm disabled or divorced? Or, what if I die? And, as I was talking about the importance of making sure that your legal documents are up-to-date, it occurred to me that my will is critically out-of-date! Life changes. My will (and my husband's) was created when our children were babies – and now our twin sons just turned 18 years! WOW! What do you want to bet that our will could use some updating!

 

Now, that I have publically declared that our will is out-of-date, stay tuned for our journey as we find an attorney, make some new hard decisions about "what if" we were to die, and go through the process of creating a will.

 

And, while we're on the subject, is your will current? Do you have a plan if you were disabled and couldn't work? Do you have disability insurance? Read more about these Planning for "What If...?" topics at http://www.ace.uiuc.edu/cfe/whatif/index.html .

 

A more upbeat related topic is planning for your retirement. Right now (as the temperature drops steadily and a big snowstorm is forecast for Central Illinois), retiring to a place warm and sunny is very appealing. The Plan Well, Retire Well website has a section on goal setting, and the very first website activity in that section is called "What's Important in Your Retirement." After you get the chore of updating your will done, take time to plan for the fun in your retirement.

Comments? E-mail to RetireWell@uiuc.edu Comments will be posted.



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