Rural Life
An Overview
A path to retirement, how would you prepare your path to retirement?
A path to retirement doesn’t have to be that tough; however, only you can make it manageable and very enjoyable, or hard.
It’s a fact that retirement represents a major change in lifestyle, and gives you an important new asset: time, which is very precious!
A path to retirement is not the same for all people. Each person approaches retirement from a different point of view; even if you have been looking forward to it, at the end of the day you may still feel a sense of loss and confusion about what is ahead of you or what to do next.
However, whatever your feelings, retirement is still a major opportunity in your life for a new and potentially very enjoyable phase, in which you, not other people, manage your time. You are the one who decides what to do, when, and how! You have the most precious item in your hands!
A path to retirement, there are simple steps that can make a big difference to your life overall, and give you many new opportunities.
It’s essential to plan ahead for this significant change in lifestyle. Some of the things you need to consider:
- Adjusting to a New Lifestyle
- When should you retire?
- New goals and routines
- Personal and family relationships
- Managing your time
- The opportunities for leisure and learning
- Paid or voluntary work – work in a community or form a group to help other people
- Hobbies & interests
- Holidays
- Returning to learning
- Home/House
- Scaling down? – How many rooms do you need? – Moving to a smaller property and renting the bigger house, or renting some of the rooms and having live in tenants?
A path to retirement, the first and most important aspect should be to learn about your daily needs, which will help you determine how much income you will need. Be realistic with your expectations. For example:
- Would you continue working on a part-time basis – for how long?
- What are your plans after retirement for the next 20 – 30 years, if you live that long?
- Where will you be, or what will you do?
- What impact would your long life have on your family?
A path to retirement –Communication:
Another path to retirement is Communication – communicate with your family is also a way to prepare for your retirement. Be open with your family about your intentions/plans.
Discuss:
- What it would be like when you are at home and lack a steady income.
- How would you support your family, especially if you are the one who is the sole earner?
- How would your retirement impact your family life and budget?
A path to retirement, whatever your feelings, retirement is still a major opportunity in your life for a new and potentially should be a very enjoyable phase, in which you, not other people, manage your time. You are the one who decides what to do, when, and how!
It’s essential to plan ahead for this significant change in lifestyle. There are some things you need to consider.
Retirement Lifestyle and Financial Planning
A path to retirement – retirement lifestyle and financial planning, these items are closely linked. While it’s important to have money, but it’s not everything; however, to be happy and fulfill all of your retirement dreams, you need to have sufficient funds to support your long life in retirement.
You need to consider the fact that you may live over 25 years after retirement with no employment income. No matter what your ambitions are, you would need to have a decent standard of living in retirement.
A path to retirement – How can you achieve this?
- Can you estimate how much you think you will need?
- How do you want to spend your retirement time?
- Plan what to do.
- How will your relationships with family and friends change?
- There is a whole range of other aspects/activities to consider.
A path to retirement – your goal should be to ensure that what you choose to do keeps you physically and mentally fit, maintains, or increases your social circle and that you do things you enjoy rather than thinking you have to do things you don’t like. Or simply because so and so is doing it.
