Many people don’t realize that old age comes along faster than you might think. One day you’re partying with your friends, and the next day you’re trying to locate the social security office in your area so you can apply for social security benefits. The thing is, those benefits aren’t going to be enough for you to live comfortably without a part-time job or something else on the side. What could help you is planning for your retirement while you’re still young. In this blog, you’ll find a few tips for planning a secure and happy retirement before your golden years arrive.
Create the Best Retirement Plan you Can
From maximizing your life insurance to sitting down with a retirement planner, there are quite a few things you can do to make sure your golden years are indeed golden. Most people live from day to day, month to month, and sometimes year to year. However, when you’re saving for retirement, you have to think ahead 10, 20, sometimes 30 years in advance. Working with a financial planner and even using a retirement calculator can help you get on track to doing what you want in your retirement years, instead of struggling.
Visualize Your Future
Perhaps the best way to start saving for your happy retirement is to visualize a future where you’re no longer working and depending on your social security benefits to get by. Sit down and really think about where you want to be during retirement. Visualize what you want to be doing and how you’re going to afford to do it. Being able to visualize your future, where you want to be, and how to afford it is an important aspect of planning.
Determine Your Retirement Spending Needs
One of the biggest things you should consider is your post-retirement spending needs. You need to be realistic about the money you’ll need to survive and be comfortable. Many people believe that their annual spending will only be 70% to 80% of what they spent before retirement. This is often found to be an unrealistic number, especially if you still have a mortgage to pay off or other bills that take your money. There are plenty of articles to help plan a retirement budget. So do that now instead of later on in life for the best results. Don’t forget to budget some fun travel times.
Research the Best Places to Retire
New lists of the best places to retire are common on the internet, so you shouldn’t have a problem finding them. The thing is to choose the best place to retire, but make sure that the place is the best choice for you. A happy retirement doesn’t have to mean that you live in the same house you’ve always lived in. It’s possible that you’ll want to try somewhere new, and if it’s a place where the cost of living is cheaper, or you’re downsizing when you do, then that’s even better for your bank account and your health as well.
Think Positive About Aging
The days when reaching retirement age meant that you had to sit on the porch in your rocking chair and watch the rest of the world go by are long gone. Look at getting older as a positive thing, and keep the stats below in mind as you do.
- Being older means, you function at a higher level
- Thinking positively means you may live 7.5 years longer
- You’re likely to eat better, exercise more and avoid vices
Just those three stats above are enough to make sure you think positively about getting older, don’t you think?
These are just a few tips to help you plan your happy retirement the right way. Your golden years should be ones you enjoy, not something to struggle through by just getting by.
Featured Photo by Max Harlynking on Unsplash