How to Prepare for Retirement Living
Transitioning into retirement can be both exciting and challenging. After years of hard work, you finally have the opportunity to relax and enjoy what are often called your “golden years.” This major life change often requires careful planning and lifestyle adjustments.
Here are a few quick tips for easing into your upcoming retirement reality:
- Examine Your Retirement Budget - Make a list of all your fixed and variable expenses, then consider your current spending habits and budget accordingly.
- Look for Community Outside the Office - Consider joining clubs or organizations, participating in community events or taking classes at a community college to get the social interaction you might be missing without work.
- Invest in Personal Relationships - Retirement is the perfect time to invest in your existing relationships, so make time for family and friends, and consider planning trips or outings to enjoy quality time with the people you care about.
- Find New Pastimes - Take some time to reflect on what you enjoy and make a list of activities you want to try, like learning a new language, playing golf, or volunteering at a local animal shelter - your options are endless.
- Know Your Health Care Coverage Options - Make sure you understand your healthcare coverage options, like Medicare, Medigap and long-term care insurance.
- Consider Part-Time Job Options - Many retirees turn their hobbies into businesses or side hustles to supplement their retirement income and increase their satisfaction in retirement. Whatever you decide, be sure it’s something you’ll enjoy.
Let’s Talk It Through
These are just a few of the things I’ve come across over the years. If you need assistance in your preparations for living in retirement, contact the office and schedule some time for us to meet. You don't want to fall into any retirement traps!
This material was developed and prepared by a third party for use by your Registered Representative. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security. The content is developed from sources believed to be providing accurate information.