Make Your Dream Retirement Happen
Creating your dream retirement is not an impossible dream; it can be accomplished in four easy to follow steps.
Step #1 – Good Money Management
Money isn’t everything, but it sure helps smooth out the ride.
You do not need a lot of retirement income just enough to make your lifestyle comfortable.
Financial planning does not stop when you reach retirement. In fact good money management is even more crucial when you are retired. The same pre-retirement financial rules apply in retirement.
Learn to live on less than your retirement income. Avoid impulse spending. Write up and follow a budget. When you write up that budget include every nickel you will be spending; from association fees to coffee on the go. It all adds up.
Step #2 – Take Care Of Number One
You are number one. If you fail to take care of your health you will have a boring retirement. If you are always sick when you retire you will not enjoy golfing, traveling, visiting, etc. If you lack the energy to get involved you will end up being a couch potato. A sedentary lifestyle does not sound like a dream retirement.
Exercise and eat healthy. You have heard that advice your whole life, but have you followed it? Dietitians say that what you eat will impact your energy levels. Personal trainers tell you that exercise will keep you young if you find an exercise you enjoy. It’s worth a try, isn’t it?
Step #3 – Prepare Your Time Wisely
How you spend your time can make the difference between a happy and an empty retirement. Retirement time is different from free time during your working years. You will have so much time once you are retired that if you do not plan it properly you will end up wasting it.
Without a plan for your time you will be more likely to whittle it away. The best time to plan how you will spend all of your extra time is before you retire. Will you take classes? Get a part-time job? Learn a new hobby? Travel? Golf? Paint the house? Build a network of friends?
Step #4 – Debt Free Is The Way To Be
If you have a mortgage or are buried in credit card debt when you retire your lifestyle will be limited.
Debt in retirement can be financial suicide. Eliminate as much debt as possible before retirement. Adjust your lifestyle to cut expenses.
The list of expenses that can be trimmed back is long. Have you created your list? Cancel magazine subscriptions and gym memberships that you no longer use. Find deals on cable, phone and Internet services. Quit smoking, it costs too much plus it damages your health.
The Possible Dream
Creating your dream retirement is not impossible if you take the time to plan it. Retirement is a work in progress. It’s all about you. It’s your time, your dime; spend it wisely.