Planning for retirement is very important. Many people are living longer today, and therefore, it is possible for a person to live another twenty or thirty years after they stop working. To ensure that this period of your life is a good one, there are lots of tips you might want to consider for how to retire comfortably and happy.
If you are worried that you will not have enough money in retirement or that you will be bored once you stop working, you may want to consider continuing work in some form. You can shift from working full-time to part-time, which gives you more time to yourself and some income as well. It also will help to keep your mind sharp as you continue to engage in intellectual activities and interact with others.
If retirement seems like a big leap for you, then you can always ease into it gradually. Some financial planners recommend people take mini-retirements to get used to not working. This could involve taking an extended vacation or a sabbatical from work for a couple of months to travel, pursue new activities, or just relax from the routine of everyday life.
It is also helpful if you can stay in good health after you stop working. This is important because you do not want to dwindle your nest egg paying for health expenses that may have been avoidable. Make sure you eat healthy and get regular exercise. Staying healthy will allow you to do the things you enjoy, such as travel and volunteer at different places, now that you are not confined to a job.
Whatever you are interested in doing in retirement, the key to living well is to start saving early and keep saving. Save no less than twenty percent of your income. With each paycheck, the money can be taken out if you set up an automatic transfer for it to go in an investment account where you will not be tempted to touch it.
Diversification is important. You should allocate your savings in various types of investment vehicles. Doing this will help you to reduce your risk and improve your investment returns over time. Also remember that your investment allocation will change over time, depending on your age, how close you are to retirement, and your financial circumstances.
Studies show that people who remain mentally and physically active when they stop working tend to live longer and happier lives. If your career did not give you enough time to pursue your personal hobbies, this is a perfect time to spend more time on what interests you.
Remember that the key to a good retirement is planning ahead. Find out as much information as you can by reading books on retirement and setting up a meeting with your financial planner. Speak to the personnel manager at your company about any pension benefits you may be entitled to. Contact your bank or a well-known investment firm about setting up a 401(k) or an IRA account. Use these as tools for your financial success.
If you are worried that you will not have enough money in retirement or that you will be bored once you stop working, you may want to consider continuing work in some form. You can shift from working full-time to part-time, which gives you more time to yourself and some income as well. It also will help to keep your mind sharp as you continue to engage in intellectual activities and interact with others.
If retirement seems like a big leap for you, then you can always ease into it gradually. Some financial planners recommend people take mini-retirements to get used to not working. This could involve taking an extended vacation or a sabbatical from work for a couple of months to travel, pursue new activities, or just relax from the routine of everyday life.
It is also helpful if you can stay in good health after you stop working. This is important because you do not want to dwindle your nest egg paying for health expenses that may have been avoidable. Make sure you eat healthy and get regular exercise. Staying healthy will allow you to do the things you enjoy, such as travel and volunteer at different places, now that you are not confined to a job.
Whatever you are interested in doing in retirement, the key to living well is to start saving early and keep saving. Save no less than twenty percent of your income. With each paycheck, the money can be taken out if you set up an automatic transfer for it to go in an investment account where you will not be tempted to touch it.
Diversification is important. You should allocate your savings in various types of investment vehicles. Doing this will help you to reduce your risk and improve your investment returns over time. Also remember that your investment allocation will change over time, depending on your age, how close you are to retirement, and your financial circumstances.
Studies show that people who remain mentally and physically active when they stop working tend to live longer and happier lives. If your career did not give you enough time to pursue your personal hobbies, this is a perfect time to spend more time on what interests you.
Remember that the key to a good retirement is planning ahead. Find out as much information as you can by reading books on retirement and setting up a meeting with your financial planner. Speak to the personnel manager at your company about any pension benefits you may be entitled to. Contact your bank or a well-known investment firm about setting up a 401(k) or an IRA account. Use these as tools for your financial success.
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