You Can't File an Extension on Your Retirement

Many Americans fail to properly plan for their retirement, and unlike taxes, cannot file for a retirement extension once they're made the decision to retire.

(PRWEB) April 14, 2005 -- Tax season is upon us and in full swing. The weeks just prior to April 15 are a nightmare for some, as receipts come out of shoe boxes and the mad dash begins to get your paperwork to your tax preparer in time to file for the initial April 15 deadline. The subject of retirement often comes up at this time of the year, as accountants, tax preparers, and financial planners will encourage clients to invest or increase their investment in their retirement IRAs as a tax-savings strategy, especially if the clients owe taxes on their income from the previous year.

Many people, however, file an extension on their taxes to give themselves more time to prepare or to gather all the information that they require to complete their tax forms. The planning for retirement usually stops at the IRA, and the whole notion of retirement falls by the wayside for most people until the next tax season rolls around. In essence, many Americans are trying to file an extension on their retirement plans by failing to consider that their retirement years are still a vital part of their lives -- their third stage of life -- and pay attention only to the monetary aspects of retirement.

Certified Retirement Coach Lin Schreiber says, "Begin to look beneath the surface of your retirement. Of course, having enough money to sustain you is important. It's part of the external work of getting ready for retirement. So is deciding where you're going to live. But, it's the internal work that determines the richness and quality of your retirement life, and today that could mean 30 or more years."

Today, the average retirement age is an astonishing 57-½ . According to the US Bureau of Labor Statistic, someone who turns 65 today can expect to live until age 83. Even when people stop working at the normal retirement age, they have nearly two decades to fill with things that really matter to them. And, if they give up traditional employment sooner, they've got even more years to thrive in the "third half" of life.

"There are 15 'must haves' for a thriving retirement and money is only one of them," notes Schreiber. "While taking charge of your life, having dreams for the future, and a purpose that pulls you out of bed in the morning are not as tangible as, say, $1.3 million in assets, they're every bit as crucial."

For inspiration in creating your ideal retirement life, download the free Retirement Re-Tool Kit Ebook at http://www.RevolutionizeRetirement.com/revolutionize.htm and follow link after link of ideas and tools to help you plan the perfect retirement for you.

Ready to rethink your retirement? Please visit www.revolutionizeretirement.com or contact Lin Schreiber at 413-298-3994.

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