Ah, retirement. That wonderful time in your golden years where you can revel in your career successes, enjoy being an empty-nester, and travel as you please. Saving for retirement is something every working person knows about – and they know the sooner you start saving, the better. However, adjusting from the working life to the retirement life can be a bit of a challenge for some, as transitioning from a set work schedule to a more laid-back life can be complicated. As well, married couples of retirement age need to communicate as to what retirement means to them, both financially and otherwise.
While it’s vitally important to develop a financial plan for your golden years and onward, developing a life plan is as important in its own way. Whether you’re married or single, planning for both a happy work-free life and one with financial comfort is very important. Here are a few ways you can plan for a happy retirement:
- Decide where you want your future to take you. You’ve been steadily setting goals in your career and your adult years, and as you reach retirement age, setting goals will have even more importance. As you think more and more about the kind of retirement you want, you’ll find yourself in a more steady and seamless transition from work life to the retirement life. Take a gander what your post-retirement income might look like – Social Security, investments, etc – and consider meeting with a financial planner to map out the years to come.
- Don’t let go of your skill set. You’ve spent decades – and perhaps several years in college – perfecting the skills that have led you to a stable career path. And in retirement, it’s a net benefit to stay busy, whether it’s by taking a casual part-time job or volunteering your time. Keeping busy can be a solid boost for both your physical and mental health, and socializing with new and old friends is also a great way to keep busy.
- Consider your retirement an adventure – and enjoy it! Once you know when you plan to retire, exploring your many post-retirement options can be incredibly exciting. Do you want to travel? Spend more time with your kids or grandkids? Move somewhere new? Volunteer your time? Once you’ve got your finances in order and know where your sources of income are coming from, enjoy your golden years!