Wolf Retirement Navigation June 2017

904-232-8760 www.wolfretirement.com MONTHLY June 2017 RET IREMENT NAV IGAT ION

DEAR OLD DAD My Father, the Frugal Saver

school for a while, and now works part time in the culinary department at a university. When someone decides to work during retirement, it’s usually because they need income. Luckily for my dad, who retired early at 60, this isn’t the case. All his life, my dad’s been a frugal person. He worked hard, saved hard, and rarely spent money on items he didn’t need. Years ago, when I helped him work on his retirement plan, we put together a strategy where he could live comfortably for the rest of his life. I’m not claiming this was an easy achievement. Most parents will always see their sons and daughters as kids, and my dad is no exception. I, too, will always think of my daughter as my precious little girl. Dad and I had to get over this hurdle at first, but it helped that he’s always been proud of how knowledgeable I am in the field and trusted my expertise. Years before he decided he was done working for AT&T, he let me step in and lend my know-how to put a plan in motion. That being said, my dad, like many other frugal people raised by Depression-era parents, found it difficult to transition from a saving

My mom and dad came from families that didn’t have a lot of means but always shared a lot of love. Both my grandparents grew up during the Great Depression, and they taught my parents the importance of hard work, a family value passed down through the generations. Raised in Delaware, Dad figured out pretty early that he wasn’t where he wanted to spend his whole life. After graduating high school, he enlisted in the Army during the Vietnam War. He spent three years in the Army before serving in the Naval reserve for another 17 years.

to a spending mentality. However, if they are like my dad who saved well and created a solid retirement plan, then they really can have both. With a written plan in place to show how the retirement money is being used and what’s going to make it last, retirees can comfortably enjoy getting that new car or investing in a new hobby, like culinary school. I think he deserves to fully enjoy his retirement without fear. Happy Father’s Day to my dad and all the great dads out there! I know we owe a lot to your dedication. – Adam Wolf, CPA, CFP ®

All his life, my dad’s been a frugal person. He worked hard, saved hard, and never spent money on items he didn’t need.

Dad spent many years going to night school to obtain his mechanical engineering degree. My parents sacrificed a lot to support our family and always wanted to work hard. Even today, as Dad enjoys his retirement, he attended culinary

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