For most people, retirement is just this far-off life event that
will happen sometime in the future. Some people even look forward to it,
especially those who don’t like their jobs or who feel they have been treated
unfairly by their employers.
Before the time comes to retire and definitely before you quit
your job, you need to really plan
for retirement. And we’re not just talking about the financial side of
things. That’s certainly important, but once you’ve got the funds squared away,
you want to think about where you’ll live and what you’ll do once you’re
retired.
If you don’t have a clear idea of what you want to do in
retirement, you can’t really save adequately. How much you’ll need depends on
your plans. Furthermore, retiring without a “plan of action” in place can end
up being boring. It can make the retirement you looked forward to for so long
something that you don’t end up enjoying. Plus, if you’re bored every day, you
might even start to miss that job you thought you didn’t like.
If you really have no idea about what you want to do in
retirement, sit down and do some thinking. Come up with a list of what you’d
like your retirement to look like and of things you’ve always wanted to do. You
can get a little crazy and imaginative with your list- it’s a fun exercise!
Eventually though, you need to whittle the list down to what you actually plan to do in retirement. Once you
have a good idea of your plans, you can budget for them. Then, you can take a
look at your current saving strategies and decide whether they’re adequate or
not. If you do this early enough, you’ll still have time to change your savings
plans to suit your actual plans.
Retirement is something that everyone should spend real time
thinking about, and not just in some vague, abstract kind of way. Instead, they
should think of it in a real way- in terms of what they plan to do and where
they plan to be. Thinking about retiring and the plans surrounding it
realistically will not only give you something to truly look forward to, but it
will also help you to ensure that your retirement dreams can become reality.
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