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Retirement Goals

6 Top Things To Do To Prepare For Retirement

The lead-up to retirement can be an exciting time for you and your partner. Finally, all those years of hard work and sacrifice will start bearing fruit. But there are several lifestyles and financial considerations you need to think about before you take the leap from full-time work to endless time enjoying hobbies, travel, friends and family.

You may have already started making plans for how you’re going to spend your days during retirement. But have you thought about how your relationship may change once you retire?

For many couples, retirement brings them closer together. They now have more time to spend together and can finally do everything they’ve always wanted to do as a couple.

However, retirement can be a time of tension and conflict for some couples. Suddenly, you’re both home, with no regular routine. This can lead to boredom, which can, in turn, lead to arguments and even resentment.

The key to a happy retirement as a couple is communication. Talk to each other about your expectations and retirement goals. Make sure you’re both on the same page and looking forward to this next stage of your lives together.

You need to think about a few things before you retire, like how you’ll spend your time and manage your finances.

Here are some important things to consider before retiring:

  1. Your finances. Retirement can be expensive, so it’s important to make sure you have enough saved up. Determine how much money you’ll need to cover your costs and create a budget.
  2. Your health. Your health is important to consider when planning for retirement. You should also consider how your health may change as you get older and what you can do to stay healthy in retirement.
  3. Your social life. Retirement can be a great time to reconnect with old friends and make new ones. But it’s important to consider how you’ll stay socially connected and active in retirement.
  4. Your housing situation. If you’re planning on downsizing or moving in retirement, there are many things to consider, from finding the right location to selling your current home.
  5. Your hobbies and interests. Retirement is the perfect time to pursue your passions and hobbies. But it’s also important to find ways to stay active and engaged mentally in retirement.
  6. Your children. They are the ones who will carry on your legacy and continue your work in the world. It is important to nurture and support them, even in retirement, so they can reach their full potential.

Get Retirement Ready Today with Your Trusted Retirement Adviser

Retirement is a time of life transition. It is a time to reassess your priorities and adjust your lifestyle. Retirement can be a time of great joy and satisfaction or a time of disillusionment and disappointment. The key to a successful retirement is to plan ahead. What do you want to achieve?

Once you have a clear idea of what you want, you can create a plan to make it happen with the guidance of an experienced financial adviser. In fact, 89% of clients with a financial adviser agreed in a recent survey that receiving advice allowed them to live their desired retirement lifestyle.1

Are you based in Port Macquarie or the Mid-North Coast and looking for a retirement adviser to help you achieve your retirement goals? At Coastal Advice Port Macquarie, our ultimate aim is to help you achieve all your goals for retirement so you can live your best life without having to stress about your financial situation. Call us or book online to secure your complimentary first meeting with our advice team today!

 

REFERENCES:

1: https://adviserone.ioof.com.au/s/article/October-2021-Editorial-Is-super-worth-the-hype-RI-Advice

 

DISCLAIMER: The views expressed in this publication are solely those of the author; they are not reflective or indicative of RI Advice Group’s position and are not to be attributed to RI Advice Group. They cannot be reproduced in any form without the express written consent of the author. This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice. Newcastle Financial Planning Group, Central Coast Financial Planning Group, Sydney Wealth Advisers, Coastal Advice Port Macquarie and Coastal Advice Ballina Byron are subsidiaries of Coastal Advice Group Pty Ltd which is a Corporate Authorised Representative of RI Advice Group Pty Ltd, ABN 23 001 774 125 AFSL 238429.
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