5 Ways to Prepare for Retirement

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After working for most of our lives, looking forward to retirement is a goal many of us have on the agenda.

It comes naturally at the age of roughly 60 (depending on where you live), but it’s also a societal norm.

Most people begin work from the age of 18 and continue working till their late 60s. There needs to be a break at some point.

Planning for retirement takes a fair deal of goal setting, budgeting, and watching the environment.

Tragically thousands of individuals are now delaying their retirement because they simply can’t afford it. With that said, it’s essential to get your finances in line from an early age.

Start saving as young as possible, and maybe you could set yourself on track for early retirement.

This article aims to give you a short dose of advice on how you can plan for retirement. Read till the end to gain a holistic idea about some of the things you can do and how to make the process easier.

Don’t just rely on savings

Most people approaching the age of retirement have a pension plan that they can fall back on. Savings are extremely important, but living off of your pensions is a better idea.

You can manage your day-to-day expenses fairly easily with your pensions and rarely touch your savings. In addition, the lump sum you have in the bank can act as a safety net and prepare you for any potential emergencies that may arise.

It would be best if you begin pension planning around middle age. However, you and your partner should really talk about this somewhere in your mid 40’s so that you have a clear plan of action about what to do when retirement approaches.

As important as savings and assets are, you don’t want to be relying on them for the next three decades. At some point, they will run dry, and when they do, you will find yourself stuck. Moreover, it’s perfectly natural to want to leave something for your children. Therefore, hold off on touching the savings and focus on your pension as much as possible.


Downsizing is an essential part of retirement. It wouldn’t be wise for you to stay in a big house where your children once lived with you. After they move out into their own homes, consider selling the house and buying something smaller.

This way, you have a smaller place to maintain, and you can live off of the extra money you get from the sale.
Maintaining a large house as you age will get highly challenging. Moreover, climbing stairs, mowing large lawns, and going into the basement may prove taxing with multiple health issues that might arise.

With that said, it’s prevalent for couples to want to remain in a home where they have spent so many years. Remember that retirement is a time when you call the shots; if you want to stay put, then do so.

Perhaps rent out the other rooms and remain where you are for some extra cash flow.

Move to Another Country

You probably have a sizeable chunk of cash in your bank account if you are retiring. So why not move to another country where the cost of living is lower, and it’s a place you like. Perhaps a scenic island resort or a city with a mountain view.

You would be surprised to learn how cost-effective some of these cities are compared to living in an Urban area. Find a country you have always dreamt about and work towards moving there.

It’s always a plus to have a stronger currency than where you are moving. Here are some of the most affordable countries/ cities you may want to consider retiring in.

Focus On Your Health

Start taking care of your health early so that you don’t need to worry about it later in your life. Of course, it would be best to start young; however, many people turn their lives around in middle age.

So not only are you prolonging your life, but you stand to lower medical costs later as well.

The healthier you are, the less likely it is that you will run up high medical bills, thus draining your savings. Medical expenses can cost a fortune if you aren’t insured. Therefore, ensure you have a good healthcare plan and stay fit and healthy.

Other than that, what’s the point of retiring if you don’t have the health to enjoy your time? This is the time for you to walk around, garden, or do whatever you feel like without anything holding you back.

Work Remotely

Although remote work goes against the standard idea of retirement, remember that you set the pace and rules of your retirement. You don’t need to go to work every day, perhaps opt for remote work and go into the office once in a while.

This is one of the best ways to get the best of both worlds and ensure that you have the finances to support yourself. Most modern organizations offer remote roles, and even if they don’t, you can always leverage them to give you the option.

Being at home for most of the week and having your computer beside you to reply to emails once in a while doesn’t seem too bad. But, it’s 2022 and as work-life becomes hybrid, so does retirement.


Retirement sounds like an absolute joy. The only drawback seems to be how expensive life as a whole is getting. But, with that said, there are always things you can do to ensure that you save up enough for a livable future.
We covered a diverse range of options that we think can help you achieve retirement, from focusing on your pensions to opting for remote work.

We leave the options to you and wish you all the best for your golden years.

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