You’ve made it! You’ve reached retirement.
When it comes to retirement, many people focus almost entirely on the money. Retirement is a time of transition. It’s the end of one chapter and the beginning of the next. It can be scary, but it doesn’t have to be. There are lots of things you can do to make your new lifestyle as successful as possible—and we’re here to help you get started.
There’s no one right way to retire; every person’s path is different and unique. But there are some best practices that can make your transition into retirement smoother and more successful.
Here are 5 tips for a happy transition into your new life.
- Start planning early! The earlier you start thinking about retirement, the more time you’ll have to build up savings for it and plan for the future. It’s never too early or too late to start planning for retirement!
- Figure out what kind of lifestyle you want after retiring from your job. Do you want to travel? Stay home with your family? Work on other projects? Make sure that your plans align with your goals for after work life so that when the time comes, there won’t be any surprises or unexpected changes in direction.
- Take care of yourself physically and mentally during this time period. This will help keep your mind sharp and prevent unnecessary stress or anxiety during this important transition period in life.
- Make sure you have a Plan ‘B’. If the state of our politics, and recent pandemic have shown you something is that life is not going to be exactly as you planned. You want to make sure that you have the ability to make changes and be able to stay retired without too many challenges. However, “life still happens” in retirement.
- Shut off all instant access to your accounts. Looking at the market/accounts daily will drive you crazy and will surely be unproductive. Limit the amount of times you view you accounts to either once per month, once per quarter, or even once per year. Your retirement plan shouldn’t be designed in a manner that requires too much review.
These tips in particular should be among the first things you begin to consider when it comes to planning for retirement. These factors are extremely important, and will be key in helping you grow into the idea of retirement. All this is to say that if you make sure that these elements are given their due consideration, transitioning into a successful retirement will be easier than you might initially imagine it to be.
Ready to discover more about how to invest and manage your money more wisely? Call me today so we can talk about your future.