The New Way Of Planning For Retirement

planning for retirement

courtesy:newbmnce

If you are under age 50 and planning for retirement, you may want to stop. In case you haven’t heard, the new retirement lifestyle will require you to live it while you work. The old version of retirement consisted of collecting your gold watch, receiving your pension paperwork then fading into the sunset after 40 years of working. Those days are gone.

The new retirement age keeps moving up; stretching out our work life. For most of us, retirement age is no longer 62 but much older. Due to the cost of living increases anyone who does retire at 62 will most likely just replace one job with another and keep working during their retirement years.

Designing Your New Retirement Lifestyle

Planning for retirement has taken a new twist. The new retirement lifestyle will be a combination of working, playing and relaxing. Gone are the days where we just focus on work for 40 years with little play time or relaxation. Finding work that will support you financially while providing enjoyment and fulfillment is the new way of planning for retirement.

If you can balance your finances you can begin to enjoy the advantages of retirement during your working years. You do not have to wait to design your retirement lifestyle. You can incorporate your favorite retirement activities into your working years.

The Best Way To Plan For Retirement

Prudent and frugal money management is the key to balancing your finances. Impulsive spending and frivolous living will not help you live a retirement lifestyle during your working years. Living within your means and becoming more aware of any financial issues is the key if you hope to live your new retirement lifestyle while you work.

You can have it all if you are organized and resourceful with your time and money. Focus on covering your survival living expenses at the lowest cost possible; these include, housing, food, clothing, health insurance and medical expenses; they do not included expensive “toys”. Take advantage of sales, deals and discounts. Remember, it’s not what you make but what you keep that will have you living your dream retirement lifestyle.