Planning For A Stress Free Retirement
Retirement is simply the inability to work the long hours that you have been used to. Retirement is slowing down (not necessarily stopping). While retirement is both a welcome thought and a scary reality, it happens and therefore ignoring it is detrimental especially because it is possible to plan for a smooth retirement at almost any point of your career ( however, the earlier, the better). Simply put, you must plan for shelter, clothing, food, health and mental well-being.
Planning for your retirement
Steps to take in planning for retirement:-
- Identify where you want to live. Remember, the larger the space, the higher the maintenance costs AND the more staff you would need to manage.
- Identify how much you need to eat well and continue to dress as you are accustomed to.
- Identify what medical coverage you wish to have.
- Identify what you activities you wish to spend your time on e.g. travel, golf
Once you know what you want, identify what amount of money you need to be able to achieve the whole. Consult an investment advisor to guide you on where to put your money to enable you have adequate cash flow for your life during retirement. A word of caution, cash flow is the key determinant of whether you will enjoy retirement.
