How to Feel Secure in Retirement
When I retire I don't want to worry about anything. I want to spend my hard-earned free time doing whatever I want for as long as I want. I have done more than enough worrying along the way. Retirement is the time to leave stress behind and learn to savor the moments.
The problem is an unpredictable future can create new kinds of stress. It is difficult to know how our second act is going to play out in spite of our best efforts to plan and prepare for it. Here's what it takes to feel secure in your retired life.
Accumulate a nest egg sufficient to realize your retirement vision. If you have not saved enough for retirement, rather than planning your next trip or relaxing stress-free, you may find yourself distracted by money concerns. You need to have enough saved to fund a quality retirement lifestyle, but the exact amount you need depends on the type of lifestyle you want to lead. If you plan to spend your retirement years enjoying all the luxuries you can, your required savings will be significantly greater than if you plan to live a more frugal life. To feel financially secure in retirement you need to understand what lifestyle you hope to live, and figure out what it will cost. Then compare that cost to your savings and investments to see if your expectations are realistic. If you start planning a reasonable period of time ahead, you can make adjustments to your savings strategy to better fund the lifestyle you desire.
Develop multiple and varied interests. With 20 or more years ahead and plenty of time to do as you please, having a wide variety of hobbies, interests and passions will help to fill your days. If you are someone who gets easily bored it is even more important to expand your options. Variety and new experiences help keep retirement fresh and exciting. Not only will the time pass faster, but you will enjoy a feeling of accomplishment looking back on the day's events.
Take steps to facilitate retiring in place. Most of us would prefer to stay in our current home throughout retirement. We know where everything is from the stores and restaurants to public transportation and hospitals. The neighborhood is full of familiar faces and good memories. With that desire in mind there are things we can do to improve our odds of aging in place. Architectural upgrades that take into consideration the challenges of aging can make your current dwelling more senior friendly for a longer period of time. A good support network of family and friends provides peace of mind in case of emergencies. If you cannot care for yourself there are in-home services that can allow you to stay in place longer. And should it get to a point where you cannot safely live at home, it helps to know the options for retirement communities in your area. Investigating the choices ahead of time gives you a better overview of what is available and helps you consider where you might ultimately have to live.
Be happy with who you are (or make changes). The person you are in retirement will impact your feeling of well-being and the lives of those around you. Getting old gives us plenty to be bitter about, from aching backs to challenged memories. It is easy to become angry and grumpy. Rather than take out that frustration on those who love us, we can try to come to grips with the realities of aging. There will be plenty of difficulties, and you may need to learn to accept help. I hope to have the strength to see the upside where it exists. I don't want to become the old guy perpetually complaining about medical issues to anyone who will listen. I would like my grandkids to look forward to spending time with me. I will try to maintain a sense of humor and occasionally make those in my life laugh out loud. I hope others will be happier after hanging around me.
Dave Bernard blogs at Retirement-Only The Beginning .
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