Helping My Dad Retire (Part 1)

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My dad has spent most of his life working and little of it planning, thinking that retirement would never come. But as he’s gotten older, he’s started wondering if it’s possible. I know he hasn’t taken any steps to make it a reality, though, so I decided to start helping him. If you’re like my dad and aren’t sure what to do, knowing the answer to these questions can help you figure out how to spend your later years. 
To start, I came up with a few basic questions to ask him about his future. 
When does he want to retire? 
My dad hasn’t decided if he wants to retire this August, when he can get his pension, or three years from now, when he’s eligible for the maximum payout from Social Security.  
How does he want to spend his time? 
His ideal life would be fishing all day and watching TV until he falls asleep. But I’m sure he’ll eventually get bored, so I want him to have access to city life as well. 
He’d like to live near me in Southern California, or my sister in Seattle, as close to a beach or lake as possible. Since the cost of living is high in these areas, he’ll be looking for a more affordable city a few hours away.
Next, I came up with some questions that he’ll need to figure out. 
Will he need a car? 
As he gets older, he’ll have a harder time driving, so it will be better if he’s in a walkable area.  
How much has he saved? 
I’m positive he doesn’t know, but it will help him figure out what he can afford. 
Will he want/need to work? 
While he’ll have his pension and at least some Social Security, it may not be enough to cover all of his expenses. 
What can he afford? 
The big one - his housing, lifestyle, and more will be dependent on this question. He’ll also need to leave room to deal with any unforeseen expenses.  
Once I talk with him, we’ll be able to come up with a plan and get him one step closer to retired life. Stay tuned!  

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