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Retirement Policy Statement (RPS)
Old 06-18-2017, 11:18 AM   #1
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Retirement Policy Statement (RPS)

Interesting Morningstar article on a document that I have not considered, even though I have long ago created my personal IPS. I have not taken the steps necessary to fiddle around with this idea, but I may tackle it on a rainy day in the future.

While your RPS isn't likely to contain as much personally identifying information as a master directory, it's still valuable to protect these documents. Note that our RPS template is designed for users with access to Adobe Acrobat, which enables password-protection. If you are opening this template with Adobe Reader (rather than Acrobat), print the document and write in your answers. Store the document in a safe location, such as a locked file drawer or safe deposit box. Alternatively, customize the document by setting up a file with similar fields in Microsoft Excel or Microsoft Word. Both programs enable password-protection.

No matter what format you use for your RPS, be sure to follow these steps.
How to Create a Retirement Policy Statement

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Old 06-18-2017, 12:00 PM   #2
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Now I know why I didn't retire at 51 when I became FI. I didn't have an RPS.

Fortunately at 58, my j*b suddenly became intolerable so I left. Seems to be working okay after 12 years. Should I go back and do and RPS? Nathhhh!

An RPS is actually probably a pretty good idea. As I looked through the template, I could see that I covered most of the bases, one way or another. As always, YMMV

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Anything which can be used can be misused. Anything which can be misused will be.
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Old 06-18-2017, 12:09 PM   #3
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Fascinating! I never heard of a Retirement Policy Statement before, so I don't have one.

That said, amazingly my written financial plan that I invented and created as I approached retirement, without any guide for how to do so, includes everything he mentioned. It's just not in a nice PDF document or pretty format. Many fundamental aspects such as AA and rebalancing policies are included in my retirement Excel file, in cells that are bordered in red and labeled "DO NOT TOUCH!" in a big bright red bolded font.
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Old 06-18-2017, 12:24 PM   #4
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I don;t have a RPS either... but I can see that it would help me with getting organized a little better. I might take a stab ai some day
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Old 06-19-2017, 06:57 AM   #5
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Or, one can manage in retirement the same way one did before retirement.

Spend only what you have available. Or a little less, if possible.

Don't get me wrong. I have folders full of spreadsheets and planning documents. I just don't see it as anything different from what I've done my whole life.
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Old 06-19-2017, 07:34 AM   #6
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I guess my RPS is sort of like the British Constitution. I've got one, but it isn't exactly written out in a document. It is sort of: I don't want to work anymore, and I want enough money to do what I do want. Nuff said.

RE'd 3 mo ago.
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Old 06-19-2017, 12:30 PM   #7
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Hmmm - Over the last 24 years of ER, I done several,formal and informal. Reason being that life did not cooperate with my predictions. Luckily history was kind overall and being 'overly cheap' early years of ER really helped.

To plagiarize do not hesitate to make a new plan when required and stay mobile, hostile and agile.

heh heh heh - So far so good.

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