4 Vital Lifestyle Factors to Prepare You for Retirement
Retirement planning isn’t just about money.
Sure, you want to spend time making sure you have the means to take care of you and your loved ones through your retirement, but some considerations require a lot more than a calculator.
Think about this: you’re retired. You have money in the bank, and you no longer have the responsibility of going to work. Just what exactly are you going to do with yourself now?
Having a clear plan in mind before you even get to retirement helps keep you from being overwhelmed later when you’re already in a period of adjustment for staying at home. Consider these four factors now to make the switch much easier:
To Move or Not?
Are you downsizing? Relocating entirely? This sometimes is hard to know without a little research. If you’re thinking about moving, you might want to spend some vacation time in the places you’re considering to get a feel for the climate, the people there, and the amenities. Other things to consider? Do you want to be closer to the family? How do you feel about losing the relationships you have in the place where you are now?
How Does Your Other Half Feel?
If you’re not retiring at the same time your spouse is, you might be in for a rocky road without some discussion first to smooth things over. What is their expectation on you? Or you on them? This might be a good time to negotiate some compromises too, so know what’s important and what you can bend a little on.
Do You Have Specific Plans in Mind?
Do you want to travel? Learn something new? Master the fine art of French Cooking? Whatever you want out of your retirement, be sure to include this in your plan as well, including budgeting for these things. Remember, you’re going to have a lot of free time, so it’s a good idea to figure out how you want to spend at least some of it, to keep you from growing bored and dissatisfied.
What About You?
What will you do to stay in shape now that you’ll home? What about your emotional well-being? Changing your routine is going to wreak havoc with the habits of a lifetime. Don’t forget to figure in time to eat right, exercise, and ensure your physical health. Also, being away from work will have an emotional impact. You might want to consider counseling to help make the transition.
Altogether, retirement is something to look forward to. This kind of planning should be fun. After all, you’re figuring out what you want to do with the rest of your life. Be sure to include the things that matter most into your new life.