The theme this week on the Retirement Quick Tips Podcast is: 5 Lessons On Retirement From The Golden Girls

Today’s lesson from the golden girls is: Don’t Get Paralyzed By Life

In real life, Estelle Getty, who played my favorite and funniest character on the show, Sophia Patrillo, suffered from terrible stage fright. During the days they would tape the episodes, Estelle would often freeze on camera and mess up her lines. She even had some of her dialogue written down and taped to chairs and tables on the set. She was the least experienced actress of the four, and it intimidated her. In a 1988 interview she stated that working every week with talent like Arthur and White scared her out of her wits. She felt like a fraud and worried that the fans would “find out” that she wasn’t as good as her co-stars.

Irreversible decisions in retirement can be paralyzing. A decision to do nothing is still a decision. Estelle Getty pressed on despite her fears and no one watching knew what was really going on behind the scenes.  

Having a plan removes some of the scariness of the decision. Estelle Getty’s plan included taping lines to the backs of furniture on the set. It’s what allowed her to survive and not quit the show. 

Your plan might include deciding when you’ll retire, making sure your investment portfolio along with your other income sources can sustain you in retirement, calculating your retirement annual budget in advance, planning for other expenses like travel and the periodic car purchase or new roof. 

Deciding when you’ll take social security, updating your will, and researching and following through with other decisions that are relevant for you, like whether or not you’ll do Roth conversions in retirement. 

The point is a decision to do nothing is still a decision.Like Estelle Getty, doing something about it and making a plan will help you make the right decision more often and have more options and more control over the variety of decisions you’ll face as you approach and transition into retirement. 

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast. 

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance