How Prepared Are You For Retirement?

 

Retirement is one of the most significant steps you will take in your life. Potentially more traumatic than other major points in your life like starting school, work or changing jobs, retirement ranks up there with getting married and having children.

There are important financial implications which most people recognise but there are other considerations that are equally important. Planned correctly, your retirement can be the most rewarding part of your life.

In our experience there are 5 key areas to consider if you plan to retire smiling.

Personal & Life Planning – Happy retirees live life with purpose and meaning – regularly engaged in activities that inspire them and give them a reason to get out of bed in the morning. Retirement from work should not mean withdrawing from life, it should be a time to reward yourself.

Financial Planning – having confidence in your financial arrangements is a must for a stress-free retirement. Securing a life-long and inflation proof cash flow to meet your ongoing expenditure needs while at the same time having access to plenty of cash for one-off larger expenses such as updating your car, home renovations, or extended holidays.

Legal & Estate Planning – updating your Wills, Powers of Attorney, and Advance Care Directives will give you the peace of mind that your loved ones are carrying out your wishes at a time that you will not be able to speak to them.

Health – regular exercise and healthy eating habits will help you to enjoy and keep enjoying your hobbies and travel advenutures with your family and friends

Housing & Community – will you be still living in your current home as you get older? If not, where will you live? Deciding to sell a home and re-establish in a new community of neighbours is much harder as you get older, and probably should be done years earlier than you currently think you will.

Your happiness in retirement could largely depend on how well you prepare. Discussing these issues with your family and friends, and getting sound Financial Planning, Legal and Medical advice will help you to create an action plan to retire smiling.

If you have more questions, or would like further information, please don’t hesitate to contact us. We would be more than happy to help you and your family.