Retirement Living and What to Plan For

Monday, November 5, 2012

Have you ever thought of what it might be like to not have to work?  To not have to be on the company’s schedule and planning every minuet to be accountable to someone else?  We work long hours, days, and weeks for years on end.   Sure, we take our vacation when we can, when it’s appropriate and steal the odd day or even afternoon away from work to enjoy life and our hobbies.   Most people work for years on end with an outcome in mind.  Most people work to be able to someday have the freedom to not work.  Many desire to be able to do what they want, and when they want to do it.  We call this freedom retirement.

We all know someone who has retired.  Some people when they retire are finally able to do what they have wanted to do all their lives.  Travel, explore, adventure, and sleep in, no schedule, whatever.  Doing what they want and when they want to do it.  What could be better?  What if you could take the time to enjoy your family and friends, and take the time to be able to spend your leisure time as you wished?  Or finally take that family vacation you have always dreamed of.  Or better yet, to be able to find new hobbies and pursue various interests. 

But some people fear that they will not have enough money to retire, so continue to work so that they can finally afford to be able to do what they want to do.  However, some people with this mindset might wait too long and then find that their health does not permit them to do what they would like to be able to do.  So, you have to make sure that you have enough money to retire, and speaking to a financial advisor may help you in planning on what you would like to do when you retire and how much money it might take for you to retire.  There is no sense in waiting to retire only to find out that your health is deteriorating and you will not be able to take advantage of all the things that you might have wanted to do.  Money is probably the biggest hurdle to retirement for most people. 

Another consideration some might want to think about is, what would you like to do when you retire?  If you have been a goal oriented person at work, then likely, you will continue to be a goal oriented person in retirement.  Most people will need a plan for when they retire.  They say the opposite of happiness is not sadness, but boredom.  If you have worked a very stressful job, and then you have no stress, some might think this is boring.  You might have to start to think about the things that you would like to do when you travel (for example, a hobby, an activity, travel plans, vacation, volunteering etc.).

The transition to retirement might be the hardest thing about retiring.  However, if you are ready and have planned ahead, then having time to yourself might be very rewarding and simply wonderful.  To have the time to do whatever you want, and when you want. 

So, look ahead and start planning for your future for someday when you don’t have to work!