Want to Retire Well? Ya Gotta Have Vision
We all know that being prepared for retirement is a very important step in the cycle of life. Knowing how to prepare, however, can prove much more baffling. One of the most important steps you can take toward preparing is to visualize your retirement goal.
Visualization is an effective technique to assist in manifesting one’s desires for numerous reasons. Most importantly, visualizing helps you to determine a specific goal; in this case, your stable (or thriving or filthy rich) retirement. Think about it; if you neglect to determine where you are going, how are you to know the steps necessary to get where you don’t know where you’re going. Confused? Exactly. Visualization helps clear that confusion by forcing you to determine concise end goals. In his book, The Success Principles, Jack Canfield wrote: ‘If you get clear on the what, the how will be taken care of.’ In other words, knowing your end goal is of utmost importance in any endeavour – retirement planning included.
Your Retirement only Goes as Far as your Body Allows it To
A recent study from 2014 Sun Life Canadian Health Index found that although more than 66% of people claimed that health issues during retirement was a major concern, only 22% felt prepared for added health costs based on their retirement savings plan. Other stats:
- 47% worry about needing more care than they have money for
- 45% are concerned that they will outlive their savings
- What is the outcome of those that did have a major health event?
- 25% said it greatly reduced or wiped out their savings
Developing Interests and Hobbies for Retirement
You may find this hard to believe but retirement can be a tricky stage in life. ‘What do you mean,’ you’re likely thinking to yourself, ‘I’ve been waiting for retirement my whole life!’ Although we’ve all grovelled in the anticipation of retirement, actually entering life as a retiree can prove a more difficult transition than you’d think. Unfortunately, retired living doesn’t come with a how-to guide or detailed map leading to the answers but it really should as many newly retired folk struggle to find ways to fill the 8-hour void where work once lived for 25+ years.
Gone are the days directed by forces beyond you like being at work. Sure, you may plan to spend more time with the grandkids but beware: A study published by the University of Greenwich measuring the ‘life satisfaction’ of retirees concluded that ‘children and grandchildren have little effect on the life satisfaction of retired people.
The Other Social Network:
Being social is about reaching out and learning to enjoy your life on your own terms. Now is the time to decide what interests you would like to pursue and how to make the most out of every opportunity.
Finding Your Way Home: Deciding Where to Live in Retirement
Your golden years are dawning like the bright chapter of a brand new day. With all the excitement and opportunities available, you may find yourself wondering where to go next. The simple answer: Anywhere you’d like!
With a solid financial plan you can explore the many options available to you and find one that best suits your wants, needs, and financial realities.
Why You Should Determine Your Retirement Lifestyle
Preparing for retirement can be a very exciting yet equally daunting affair. Determining the type of lifestyle you would like to lead in retirement can help ease the stress by helping you accurately plan for a happy retirement.
Do you and your partner want to live the Snowbird lifestyle flying south every winter? Or maybe exploring the world one cruise ship at a time is more your style. Is staying close to home near your children and grandkids the ideal lifestyle choice for you?
Obviously there is no right or wrong answer here, just right or wrong approaches.
In order to be fully prepared to enjoy your retirement years to the fullest, it’s very important to determine your lifestyle so you can accurately assess the costs associated with it.
Financial: What to Consider when Preparing for Retirement
SAVING: To RRSP or not to RRSP?
Registered Retirement Savings Plans (RRSPs) are available through most major banks and other financial institutions and they are an optimum means to invest and grow your retirement savings. If having an RRSP is in your plan, you can receive your income in a number of ways.
Establishing Your Legacy: Estate Planning and Beyond
Planning the management of your estate after you go takes careful consideration and preparation. There is much more to the process than deciding who will get the fine china. Well executed estate planning leaves little wiggle room for dispute when it comes to physical assets, but also re-establishes adherence to wishes regarding charities, bursaries and trusts.
Myretireability is about changing the way people look at and experience retirement.
Helping clients transition into and through retirement has been my focus over the last 25 years. During that time I completed my CFA, CFP and MFA designations. Despite my financial background I realize that retirement is more than just about money. In order to address these needs I completed the Retirement Options Coaching Certification and I also developed a retirement planning software program called the Retireabilityscore. Most people enter retirement on the basis of whether they have enough money to last their lifetime. My goal is to change the way people look at retirement so they consider eight key measures as opposed to just one, the financial.