When it comes to retirement, many people think of themselves spending lazy days on hobbies and interests in their own home. The show, The Golden Girls, was one of the first times that many people saw a new perspective on life after retirement. Instead of living alone with husbands, four divorced or widowed women relocate to Miami and live together. Here are four ways that these ladies got retirement correct.
Living together is easier
The pilot of the series is the date that the four ladies move into the home together. For many people, this show was a new one in that it focused on women past working age who live together. For retirees, the idea that friends can opt to live together and split the mortgage should be of focus. When you retire it can often be with less than you wanted. By living together the girls share a mortgage, utilities, food preparation responsibilities, and more. This makes life much more manageable than if they were to live alone. Living with friends or loved ones can be a good form of retirement planning.
Pensions cannot always be counted on
In one episode, Rose Nylon got a letter that her husband's pension was about to be cut off. It was discussed that her husband worked for the company long term in order to be able to afford for her not to work in her old age. However, it is important to note that pensions can go bankrupt and that you should have a backup plan. Personal retirement planning in the form of IRAs, cash savings, and investments is necessary in order to keep things going.
You could get remarried
Though past 50, at some point all of the ladies get engaged or almost married. The eldest, at over 80, actually gets remarried first. Even if you are divorced or widowed at retirement, plan as if you may have a companion again. It is important to think about how to divide finances, living expenses, and other added responsibilities when it comes to remarrying past retirement.
Use your investments for bigger ones
Retirement does not mean the end. At the end of the series, the ladies actually put their money together and purchase a hotel to run and manage. In your retirement, use your money in order to make sound investments that you can manage. Choosing retirement solutions that offer you good income can allow you to see even bigger dreams after you retire.
Talk with a company like Family Financial Partners for more tips on preparing for retirement.