Personal Finance

It's not just about the years spent in retirement, but what you're doing. This is something I heard from a financial advisor - Retirement happens in phases.

Go-go phase. Years spent in relatively good health. Add extra budget for travel or big-ticket items to enjoy, like an RV.

Slow-go phase. Staying close to home, maybe spending time with grandkids. Increased medical bills.

No-go phase. No travel, but largest medical bills.

For most Americans, there is no such thing as retirement.

I gave up after looking for a clear answer after a few minutes. They really buried the lead.

One thing nobody points out is that those last 5+ years of your life, your health will probably be failing, physically and maybe mentally. If someone has to take over your finances and they aren't financially literate, your money will run out a lot sooner.

I'm not talking about someone stealing your money(which does happen), but someone who means well, but just makes bad decisions. There's no easy fix for it, but a living will helps.

Can someone define this word for me?

"Retiree"?