What if you had a crystal ball to look into the future and know what your retirement will actually be like? I’m going to do my best to paint a picture for you. Let’s take a peek and see what you can expect so you can plan NOW to have the BEST golden years!
Retirement planning can certainly be pretty stressful, but planning and having good information is key for you to gain sanity and some control to help you with your planning. Grab a notebook to jot a few notes. Here we go!
1. Social interactions will change greatly
You no longer have daily interactions with co-workers: chitchats about daily life, kids, grandkids, lunches. There are good positives with this, as you don’t have to deal with some of the co-workers that were grouchy, complainers or lazy workers. Be prepared for this to stop abruptly, because you’re no longer at the workplace if you stop working completely.
It’s important to remain active socially though. Be mindful about it and schedule lunches with those that you want to continue to have relationships with. Make the plans and pencil it in on your calendar.
2. Might have to get a part time job to cover unexpected expenses or life changes
Life is always hitting us with curve balls right? For example, if you make a move and buy a house in a new preferred location that new location may have higher insurance costs and higher costs of living. Your health could change, resulting in more medical appointments and expenses.
3. You go from a saving mentality to a spending mentality
You will see your account balance going down all the time. Retirement funds will be growing at a slower rate because you will be taking money out to live on. Be mindful and keep an eye on your account monthly. Retirement is a big adjustment, after spending 30 or so years following the same routine. It’s a good idea to create a monthly budget for yourself. Know your spending limits ahead of time.
4. You will have more free time than you realize
If you finish errands in the morning, the rest of your day will be open. The worst thing to do is just to wander around and do nothing.
It’s VERY hard to go from being wired with having a schedule to having nothing planned. It may work for a few days, but after some time it will get old.
To ensure a smooth transition, plan activities through out your week. Consider volunteer work, gyms, senior center activities and family get togethers. Add reminders to your google calendar to stay on top of this.
Creating a daily schedule can also help with this. Get up at the same time or use an alarm, get dressed and do makeup, plan lunch, etc..
5. You WILL have more fun and less stress
You no longer have work responsibilities. No more late night emails. No more grumpy coworkers or clients. The endless meetings are over! It’s time to have some fun! You put away money and saved for all of those years, now it’s time to treat yourself every once in a while. YOU worked hard for your golden years and you deserve a meaningful and fun retirement!
BONUS TIP:
Maintain and don’t forget your health!
That’s the best advice that many active retirees want you to take away. If you don’t have your health, the other things you want to do won’t happen.
Me as a realtor: you can live in any home you choose: downsize, townhome, 55+, make changes, however, our body is our only home we have and we have to protect it and focus on it as a #1. As we get older we feel new and more aches and pains and they only multiply.
Improving your health is easy! Move your body for at least 30 minutes per day: walk, stretch, swim, yoga. Don’t over complicate things: you can move as you cook, as you clean.
Think about what you eat. The more processed the food is, the worse it is for you. More home cooked meals is the solution. Have fun with it. Check out Youtube videos for great dinner ideas!
Which one these tips really resonated with you? Let me know how you can take this information and implement it in your own planning, to help make your life easier.
Schedule a time to chat: bit.ly/contactolgas