Now more than ever you need a complete and comprehensive retirement planning checklist.
On 1 January 2011 the first baby boomer turned 65 and the baby boomer flood has started.
Described as "a pig in the snake" this demographic bubble will have a major impact on the world.
Everyone will be affected.
For a long time retirement was blissfully perceived as being a delightful transition from the responsibility and cost of children to the tranquil financial and physical freedom of retirement...
to the wonderful world of "lakah" (life after kids at home)! Wake up, wipe the sleep from your eyes.
We are faced with a new reality.
Drift into retirement at your peril.
It's going to be a long-haul exercise...
so be prepared.
The following are some ideas for your retirement planning checklist.
As you work through it you'll find it is iterative and, at times, you may feel that you're going around is circles.
Many people will start their retirement planning checklist with the question "do I have enough money to retire?" I suggest that this is the final question to ask, as the answer to this question depends on the answers to all other the questions asked before.
My personal motto is "retire with a purpose...
or just start to die.
" I believe that at this stage of life it is very important to have a meaningful purpose.
In most cases we are unprepared.
Bur accept that for the majority of retirees It's not going to be easy and there are good reasons for the saying "old age is not for sissies".
So to get started some of the more general retirement planning questions to consider are:

• What does "retirement" really mean to me and my spouse or partner?
• Why do I want to I retire?
• Where would I like to live?
• What is my planned retirement lifestyle?
• What would I like to do?
• Do I have any concerns about my health in retirement?
• How long do we think we'll live?

Depending on the answers to these questions you can then start putting together a financial plan by answering these questions.

• How much will we require to support our planned lifestyle?
• How much have we got?
• Will we have enough money?
• How much do we need to save?
• What specialist information or support do we need?
• Do we need to supplement our income?
• What contingencies do we want to make?

Retirement is likely to be a long-term project which, like life before retirement, will progress in stages.
Some stages will go along as planned but others will be impacted by unforeseen curved balls.
Ask yourself this question now - am I prepared, financially and emotionally to face and handle them?