No one likes to admit they’re growing older and facing the prospect of retirement but everyone does and that’s why it’s important to face the future with a positive and practical attitude.
If you’re not sure what you should be doing right now to protect your future then take a look at this article.
We’ll be looking at three steps you should be taking to make sure your retirement is financially secure.
#1 Get Organized
If you’ve worked in several organisations and have pensions started and ended, you’ll probably get sent updates every now and again but do you know where those pots of money are and how to access them?
The best thing to do is to get organised now with your paperwork. You might not touch that file for the next 20 years but knowing your paperwork is in order is the best thing for your financial safety and security for your loved ones if anything should happen to you.
If you really want to be efficient then make electronic copies of your documents and create a file on something like Dropbox.
#2 Make Your Wishes Known
Your retirement is your time. A moment you’ve earned after years of hard working and it’s worth discussing with those nearest to you, your plans.
You may be fit and healthy now but what happens when you get a little older and a little weaker? Are you planning to stay in your own home as long as possible or is it worth storing a little bit of money away for nursing home costs to help take the financial burden off of your family should your care require it?
It might be that you never need that money you’ve set aside, in which case it will be a great gift to pass on through a legacy to your children or grandchildren or be used to adapt your own home to live in as long as possible.
#3 Map Your Future
This last tip is focussed on your mental and physical well being just as much as your financial. It may be that you love your job and can’t imagine a time when you’re not working. It might be that you’re more than ready to start taking it a bit easier and to slide thankfully into retirement.
However you feel, you need to make sure that you are not at a loss when the big day does finally arrive. Have a plan for your life. If you’re in good health, you could be looking at a long and happy retirement. Got some hobbies you’ve always meant to take up again?
Get that workshop built. Love travelling and are looking for an excuse to up sticks, why not set up a travel blog to provide an outlet for your experiences and the photos and writing that goes with it?
Don’t be left with a gaping hole in your life, it’s your future and now’s the time to open it with a well thought out budget and a whole lot more possibilities.
What are you doing to build a happy retirement?