3 Things You Won’t Expect in Retirement

If you are thinking about retirement, you have probably dreamed of luxurious days sunning on the beach, lowering your golf score, traveling to elegant destinations, or catching that big fish off the bow or your beloved boat. When you retire, or in my case, retire early, there may be things that startle you. So, take a breath and tackle them with confidence.

1. “FREE” cellphones cost hundreds of dollars. In preparation for our travel year, we knew cell phone carriers/plans would have to change. We, mistakenly, expected to call the carrier and cancel our USA service so that we can get sim cards abroad. One of us had a paid off phone, the other was half-way through a 3-year “contract”.

   Here’s the true math.

2. Updating a Will or Power of Attorney (POA). You have probably heard about the need to write a will or have a POA in case something happens, and you die or become incapacitated. I HIGHLY recommend that you initiate these documents, but you also need to prepare for the cost of drafting these documents. Although you could get paperwork online or at an office supply store, sometimes it is better to use a lawyer, and we all know those are not cheap. Below are some estimated fees from one local lawyer in Washington State. The best frame of mind for writing a will and POA is to think of them as an investment in your living heirs. The fees don’t hurt as much when you think of them as a GIFT for your children, parents, friends, etc. These documents will help them care for your needs and settle your estate if you die.

3. Important files lost. Do you have a love hate relationship with technology? It rules our lives and hurts our soul when it breaks. External hard drives are a great place to store data if you can’t or won’t use the cloud, however, my external hard drive recently took a nosedive off the table. The whirring and spinning of its cavity did not sound healthy, so I had to look for a repair shop. Retrieving pictures and files from a HD can’t be done by just anyone. Apparently, they must be disassembled in a “clean room” with special gear. And, as you can expect this is not a cheap fix. Several companies in the USA specialize in this retrieval procedure and they all seem to offer free shipping and a free diagnostic exam. Then, they hold your technology in-hoc until you pay. Well, I sent my HD off to be examined while crossing my fingers that my kids’ baby pictures can be rescued. The final bill took my breath away, but can you really put a price on life’s memories?

Cost = $3031

We have all been warned to have plenty of money in the bank for retirement. These are just a few examples of why that advice is so important. Whether you are retired or not, having an emergency fund for unplanned incidents is always a wise idea.