Approaching retirement is a time in life that can either be filled with fear and trepidation, or a time of excitement about the years that lie ahead.
What will your retirement look like?
Will it be the fulfilment of dreams that have developed over a number of years, or will it be a time you dread? Unfortunately for many people, retirement brings loneliness, bewilderment and a sense of loss of their self-worth.
But it doesn’t have to be like that. Retirement should be seen as the start of an exciting journey, and not a time of fear and regret. However, an exciting and fulfilling retirement will only be achieved if you are prepared to do two things:
- Dream – take time out to picture a perfect retirement that is right for you and embraces all the things you are passionate about. Things like: where will I be living, what will I be doing with family and friends, how will I be occupying my days and what sights will I be seeing and places will I be experiencing if travel is part of my dream?
- Plan – achieving your dream retirement will take time and careful planning. You wouldn’t embark on an interstate road trip without having some idea of the route you will take and where you will stay along the way.
Retirement is a bit like a road trip. It needs to be mapped out and planned. This planning can be done in as much or as little detail as suits you. But irrespective of whether you intend to cast fate to the wind, or plan life with meticulous detail, some planning will be required.
For most people, money is a very important part of retirement. It will dictate the extent to which you will be able to achieve your dreams. However, even big dreams can generally be achieved on a budget, again this needs to be done with careful planning.
So, if you are thinking about retirement and have unanswered questions, now is the time to seek appropriate advice from a qualified financial planner and start to build the foundations of what can be your exciting and fulfilling retirement.
When should you start planning for your retirement?
As early as possible. The more time you put into planning the greater the likelihood that you will achieve your retirement dreams and aspirations.4