Wishing Upon Your Dream Retirement?
Your Dream Retirement Is All About You
When you retire, you know what you want. You’ve been dreaming about it for years. That day when you get to walk away from your job just can’t come fast enough. Now, if you think your dream retirement will come about just by wishing for it, you are mistaken. If you want your dream retirement, you need to make it happen. It is not impossible, it can be accomplished, but it will take some effort on your part. The easier you make your approach, the better. Here are 4 easy to follow steps to help make an easy approach to your dream retirement.
Step #1 – Your Money Management
Money isn’t everything, but it sure helps smooth out the ride. You do not need lots and lots of money to make your lifestyle comfortable, you just need a good understanding of money management. Financial planning does not stop when you reach retirement. When you retire your stream of income is usually limited so having good money management skills is even more important. The same pre-retirement financial rules apply in retirement. Learn to live on less than your retirement income. Avoid impulse spending. Create and stick to following 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 – Taking Care Of Number One
You are number one. Failing to take care of your health could make your dream retirement hum-drum because you will spend it in doctor’s offices. If you are always sick when you retire you will not enjoy golfing, traveling, visiting, etc. When 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 – Preparing 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. You worked for at least 50 years and you had a routine for those years. Now you need to develop some type of routine for your retirement time.
Without a plan for your time you will be more likely to whittle it away and worse yet, become bored. 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 new network of friends? The possibilities are endless, it’s all up to you.
Step #4 – Going Debt Free, It’s The Only Way
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. Who wants to worry about debt when your retirement is supposed to the best years. So work on eliminating as much of your current debt as you possibly can before you retire. In the long run you will be glad you did.
Start the process by making a list of your expenses. Can you adjust your lifestyle to cut any of those expenses? Can you cancel magazine subscriptions and gym memberships that you no longer use? Look for deals on cable, phone and Internet services. Quit smoking, it costs too much plus it damages your health. And as far as entertainment goes, there are numerous local events that cost nothing, check it out.
The Possible Dream
Creating your dream retirement is not impossible if you take the time to think about it and plan it. Retirement is a work in progress. It’s all about you. It’s your time, your dime; spend it wisely. You have dreamed about what you would do once you retire someday, so now take the time to get it in place. Make your retirement a reality instead of just a dream.
Picture yourself walking along the beach at sunset, or relaxing the day away soaking up the sun. Find some vision that motivates you to prepare for your dream retirement. Only you know what you want to do during your retirement years, your boss doesn’t, your co-workers don’t, your kids don’t. Make your dream retirement happen, you can do it.