Grey Wing Financial Discusses the Importance of Realism in Retirement Planning

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Grey Wing Financial discussed the importance of realism in retirement planning following the New York Times’ Market Watch article composed on June 27th entitled, “10 Keys to Retiring on Your Terms”. addresses the keys in the article, and their emphasis on employing realistic expectations and goals regarding retirement planning.

Given the advent of longer life expectancies, putting off retirement for several years may be a wise investment in the future.

Following the New York Times’ Market Watch article, titled “10 Keys to Retiring on Your Terms”,     Grey Wing Financial discussed the keys listed, underlining the importance of maintaining a realistic mindset regarding retirement planning. Doing so is pivotal in constructing a solid, reliable retirement plan.

The article’s keys focus on remaining realistic in retirement planning, and ensuring that all aspects of retirement are well thought through. The first key is simple: start early. Starting early offers a greater chance of having a sizable nest egg to draw from. In conjunction with starting early, it is important to acknowledge that 65 is not an absolute requirement for retirement. Given the advent of longer life expectancies, putting off retirement for several years may be a wise investment in the future.

The second and fourth keys are closely intertwined; visualizing and then writing down exact retirement plans both help in solidifying one’s plans, as well as revealing any mistakes or loopholes that may have been missed otherwise. Visualizing a lavish lifestyle and failing to construct a plan to support such a lifestyle will result in a faulty retirement plan. Ill-constructed plans may also be brought to one’s attention after the plan has been shared with loved ones, and looked over by financial professionals. Retirement planning is a collaborative effort and should not be regarded as a solitary activity.

With this in mind, flexibility should also play a large role in the construction of a retirement plan. Markets shift, health needs and insurance coverage may change, and unexpected emergencies often arise. Building a budget for such emergencies is pivotal in creating an effective retirement plan.

Following flexibility is the importance of keeping an eye on the retirement plan in place. Again, because markets and investments may shift, and needs may change, the retirement plan must be created so that it may adapt to newly-discovered needs.

Finally, retirement planning is an ongoing process, and does not become written in stone at the advent of retirement. Throughout one’s retirement, remaining open to change and modifying the overall plan is key.

Grey Wing Financial addresses the Market Watch article, written by Robert Klein, also stressing the importance of realistic retirement planning. supports the article’s suggestions for creating and maintaining a solid, effective retirement plan. Just as a retiree’s life and plans change regularly before retirement, plans will change following retirement and the probability of change must be built into the planning process. Preparing for things you can’t control is also an important aspect of planning; laws and regulations on AARP life insurance coverage may change, vehicles may break down and require replacing, and home maintenance may be extensive. Though predicting every potential emergency is not possible, building an emergency fund into the overall living fund is an excellent example of realistic planning.

Grey Wing Financial responds to an article published in the New York Times, offering 10 keys to successful retirement. Each key describes realistic approaches to retirement planning, including the probability of having to regularly alter the plan to fit current needs and emergency situations. supports the conclusion that retirement planning is an ongoing process and must be constructed with the reality of change in mind.


Grey Wing Financial is an online company containing resources geared toward aiding retirement planning and success.

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