How to Build A Satisfying Retirement
Retirement is a significant milestone in one’s life, representing a transition from a busy work life to a period of newfound freedom and exploration.
Retirement is something we all look forward to, and work towards. Therefore planning is crucial to fully reap its benefits.
Planning for retirement should not start only when you are 5 to 10 years away from your retirement date. It starts when you begin working. When you sign up for your employer’s retirement plan.
Being strategic about which company to work for can increase your retirement security! For example working for a company with a pension in addition to a defined contribution plan (401k,403b, SIMPLE, etc)
When you are 5 to 10 years away from your planned retirement date, it becomes even more important to have an idea of what retirement will look like.
Here are key considerations for building a satisfying retirement.
1. Build a Vision of Your Retirement
Imagine your perfect retirement day: waking up to a breathtaking view, enjoying a leisurely breakfast, and spending the morning on your favorite hobby. Visualize the goals and activities that will bring you joy and fulfillment. Think about the people in your life and how they will contribute to your retirement lifestyle. Create a clear vision that will guide you towards a satisfying retirement.
2. Review Your Financial Assets
Take a close look at your financial assets to ensure a stable retirement. Review your retirement savings, investments, and any other sources of income. Consider consulting with a financial advisor to evaluate your financial situation and make necessary adjustments. Having a solid plan in place will provide peace of mind and help you achieve your retirement goals.
3. Take Inventory of Your Social Network
Your social network plays a vital role in retirement happiness. Reflect on the relationships that matter most to you. Identify the people you want to spend quality time with during retirement. Think about joining social or community groups that align with your interests to foster new connections. Cultivating a strong support system will enrich your retirement journey.
4. Invest in Your Health Well-Being + New Hobbies and Interests
Retirement is the perfect opportunity to invest in your health and well-being! Explore new hobbies and interests that bring you joy. Whether it’s painting, gardening, or learning a musical instrument, engaging in new experiences will enhance your well-being. Discover the activities that ignite your passion and give you a renewed sense of purpose.
5. Be Flexible
Embrace flexibility in retirement! Understand that changes are inevitable, and your priorities may evolve. Stay open to new opportunities and be willing to adapt your plans. Revisit and redefine what brings you happiness and fulfillment. Being flexible allows you to make the most of this exciting chapter in your life.
6. Consider an Annuity to Guarantee Never to Run Out of Money
Secure your financial future with an annuity. An annuity is a contract that provides a guaranteed stream of income throughout your retirement. It ensures you’ll never run out of money, giving you peace of mind and financial stability. Consult with a financial advisor to explore the benefits and options of annuities.
Unsure about annuities? Learn the facts from myths here.
7. Take advantage of our FREE tools and resources!
Here at Live With Dignity, we want to make it easy for you to access tools and information that can help you make sound decisions and live a life of dignity for many generations to come! Whether you are just starting out and still have many years ahead before retirement, or you are retiring in the next one to five years, you can find the right information for your situation.
Click here if you are still more than 10 years away from retirement.
Click here to learn why you CAN’T Rely on Your 401(k) Alone: A Wake-up Call
Click here if you are 5 to 10 years away from retirement.
Remember, planning early gives you a greater advantage. Your retirement deserves the best, and we’re here to help you achieve it.
Sheilla Vidal is a Retirement Income Certified Professional RICP® and life insurance broker. Sheilla is also a physical therapist, wife, mother of two, and one of the caregivers for her 85-year-old father. She is an avid learner. She writes, speaks, and recognizes that her work in helping clients live with dignity is her God-given mission.
