Looking forward to retirement is like looking forward to getting a driver’s license. You think so much about the fun and the fear that when the dream is finally within sight, you’re surprised to find out that you have no idea how to do it. Unlike driving a car, however, retirement doesn’t come with a set of rules or a bad ID picture. Fortunately, enough people have endured the change to retirement to provide a good deal of retirement advice.
Retirement advice usually means financial advice. That’s because all the other plans depend on the financial plans for funding. It’s also because retirement finances have to be taken care of right now. If you have a good job, you probably have some kind of retirement account in place.
If so, your employer may also offer free financial retirement advice. At the least, this should cover an explanation of the different types of retirement plans available through your company. There may be presentations from financial service companies and even personalized retirement advice from experts. Before buying into a plan, do some objective research in order to understand the basics and avoid being sold a specific service.
Retirement means a change of lifestyle. That’s the good news and the bad news. Start thinking about the types of changes it will mean. Will your spouse retire before or after you do? Will you move to a less expensive area or perhaps to a more enjoyable one? One of the most valuable pieces of retirement advice is to keep busy. “Not working anymore” is not enough to fill your days. Are you planning to volunteer some of your time? Would you enjoy a part time job? Does your hobby of choice involve expenses that prohibit many hours of participation?
Do your plans for retirement depend on good health? While you plan your finances, plan for a healthy lifestyle. Your doctor can provide very important retirement advice. Watch your diet, check for inherited problems, start a sensible exercise plan. Also, remember to plan for health insurance coverage..
If your social life depends on your co-workers, it may be time to begin investing in a wider circle of friends. Spend time with people who share your interests. Join a club, participate in your church or take a class. If you are planning to move after retirement, become acquainted with your future home town and the social possibilities there. Retirement means building a whole new life. It’s not too soon to start on the foundation. That’s sound retirement advice.