What, Me Retire?
Hey—it’s not your parents’ retirement.
By Col. Warren S. Lacy, USA-Ret.

This month we’re talking about retirement. But not military retirement, as we often do. Military retirement, after all, can be simply a launching pad for a second career. No, today we’re talking about honest-to-goodness, kick-back-and-watch-the-clouds-scud-by retirement.

If your real retirement is many years away, our talk still is important, because preparation is something we have to do. Failing to plan for retirement is asking for unhappy—or even disastrous— consequences.

If you haven’t guessed by now, this is MOAA’s annual retirement issue. We bring you news, views, and detailed information to help you plan your future. This year we have a wide selection of articles that cover the topic.

One of the first questions you might ask is “Where do I want to live for the rest of my life?” According to a recent survey of baby boomers by the retirement community developer Del Webb, 59 percent of those approaching retirement plan to move. Thirty-one percent say they’ll move more than a three-hour drive from home. Our story “Home Shopping” (page 48), gives some tips for choosing a place to retire.

After you’ve selected a location, the next question you may ask is “Do I live on my own, with relatives, or in some type of retirement community?” According to a July 2004 poll, adult and over-55 communities are becoming popular living arrangements for leading-edge baby boomers and near-retirees (a group between the ages of 50 and 65). The MetLife Mature Market Institute poll, “The Future of Retirement Living,” conducted in coordination with AARP Health Care Options, notes that while 86 percent of those surveyed said aging in their own homes would be their first choice, many are interested in other retirement options.

How do you select the right retirement community for you? In our story “Been There, Done That” (page 60), an MOAA member who is pondering this move questions another member now living in such a community. To help you research the many alternatives, we also offer our annual retirement community list between pages 58 and 59.

If you decide a retirement community fits your plans, another question you might ask is “How can I tell whether the place is financially stable before I invest?” Check out page 72 for some thoughts.

And, finally, retirement isn’t just one transition. It’s a series of transitions. As important as the physical aspects may be, the psychological impact could be the killer issue. How can you prepare for the stressors associated with this life change? The story “Countdown to R-Day” (page 84) tackles this subject.

Whether you’re retiring tomorrow or in 20 years, we hope you find something here to help you plan and execute one of the biggest decisions of your life. Live long and prosper!