Remind me again what's so golden about these years

“The question isn’t at what age I want to retire, it’s at what income.”

— George Foreman

Somewhere, I read a statistic that said, “As a group, retirees are better off than most Americans.” That is probably true for some — the lucky ones with pensions from big companies, all their kids through college and substantial bank accounts. But for myself and most of the people I know, retirement has come with some unexpected surprises.

No matter how carefully we think we have planned:

-The cost of living keeps increasing. If you stay in your current home — which many retirees decide to do — the taxes, heating and cooling, the needed repairs, all keep going up in cost. An added expense is outside help for chores you once did yourself when you were younger or more agile or for those done by a now-departed spouse.

-You spend more on entertainment and eating out. You need diversions if you are home more. With more free time, the travel and entertaining you always wanted to do take a bigger chunk of available funds.

-It’s harder to borrow. When you are a nonworking or part-time employee, it is difficult to get a loan at a reasonable rate, so if you anticipate redoing the kitchen or buying a new car, do it while you are still working.

‰Early retirees who are not yet 65 have to be self-insured. That’s a very big budget item, assuming they can find medical coverage at any price. The age of entitlement for Medicare is going up, but the good news is that recent laws say pre-existing conditions cannot be held against you.

-Adult children require help. With the unemployment rate hovering around 9 percent, some adult children not only need monetary help, some are returning home to live while searching for work.

-Illness requires paid help at home. Unless you have had both the funds and foresight to buy long-term health insurance, temporary or permanent help to relieve one spouse from some of the wearing responsibilities of caring for a failing partner is an unexpected and overwhelming expense. Nursing home care is even more expensive.

Contrary to a popular misconception, Medicare does not cover long-term nursing home care. You need to use your own funds before going on Medicaid, so planning well in advance (there is a five-year look-back) with an elder law specialist, is essential.

For me, the bright side of retirement is getting that Social Security check each month and continuing work that I enjoy, but with more flexible hours.

I can laugh at many of the things that worried me when I was young, such as:

Am I thin enough?

Am I pretty enough?

Will I land a really good job?

Will I finally meet Mr. Right?

Will I be a good mother?

Now that I am older and wiser, these worries have been replaced by:

Am I thin enough?

Do I still look young enough?

Will I keep my really good job?

Can I hang on to Mr. Right and how will I manage without him?

Was I a good mother?

Oh well! Whoever said that life was easy at any age.

Editor’s note: Last week’s column had the incorrect number for the Yale decision-making study. It is 203-737-2779.

Contact Jean Cherni, certified senior adviser for Senior Living Solutions and Pearce Plus, at jeancherni@sbcglobal.net or 15 The Ponds at 101 Hotckiss Grove, Branford 06405.

I'm reading: Remind me again what's so golden about these years