A Handful of Tips 56 – Retirement Planning

A Handful of Tips 56 –

                        Retirement Planning

 

Five of the best tips when planning your retirement

 

Ideally retirement should be planned early in a career. Start saving early, to set up a superannuation scheme, so you can enjoy your retirement years.

 

1. Plan your retirement early

Everyone should plan for retirement, so if it comes unexpectedly, you are not left in a state of shock.

No one should go from a dynamic career to a life of inactivity.  It’s hazardous to your health and to your private life. The hardest job in life is being idle.

 

2. Save for the day you are not earning 

Aim to have all your mortgages and debts paid off by the time you retire. Remember there will be no regular salary coming in and you will need to manage on a reduced income.

Save and invest early in your career to build up a nest egg for the days when you are not on a salary. Diversify your investments to spread your risks.

 

3. Develop your hobbies and social activities

What do you enjoy doing most? Have you a hobby or a skill that could be turned into a small business one day if you need money?

Join cultural groups or sports clubs. You need to keep active both mentally and physically. You must have a purpose in life. Retired people need to feel wanted.

 

4. Decide where you are going to live

If you have saved well and have available finance you can move to your dream location.  

If you move into a new area remember the older you are the harder it is to make friends. Join organisations to meet people.  

 

5. Make your dreams come true

Learn new skills, such as painting, woodwork, gardening or learning to play a musical instrument.

Join service or sports clubs. Do volunteer work in your own town, country or overseas.

Now is your chance to travel. There are many exciting things to do so start planning now.

 

-Geoffrey

 

“Nothing ventured, nothing gained.”

 

Source:“No Job! What Now? Moss Associates Ltd, New Zealand and as an eBook published by Cengage Learning Asia. Available from Amazon.com and VitalSource.

 

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