Master The Art Of Retirement Planning With These Tips

We work hard all our lives and look forward to our retirements, but having a good time in your golden years needs careful planning. Check out our tips below to plan your retirement with confidence…

Money
Making sure that you are provided for during your retirement is a big concern for many. Some people rely solely on their company pensions. However for others, the security of knowing that they have a nest egg to enjoy, can make their retirement more pleasurable.

There are several ways of ensuring that you have some extra money when your retire. The first is to invest in stock early or seek assistants from experts. I’m talking in your 20s or 30s. This is because stocks have an average return of 9% over a period of 9 years. So if you put a small amount in when you are younger, that will continue to build over your lifetime. The key to stock is never investing more that you can afford to lose because we know that their values can go down as well as up. If you can easily afford your investment, it gives you a better chance of being able to keep your money in, even when the market is depressed. Thus giving it a chance to rise again and for you to get into profit. If you would like some more investing advice, check out our article here.

Another way of making some extra money for your retirement is to buy a property and rent it out. The rent will cover the mortgage, so by the time you’re ready to retire; the mortgage should be paid, and the money from the sale of the house will be your own. See http://www.investopedia.com/articles/retirement/07/sell_house.asp for some info on how to sell. For this to work, you will need to have a deposit and leave enough time to get the mortgage paid off. So if you want to retire at 65, and you have a 25-year mortgage you will need to purchase your property at 40.

Health
Health is often a concern for those heading into retirement. You want to be able to enjoy your time without too many complaints. Ensure you get regular health check ups and if possible go for a private insurer care package.

If living in your own home, becomes a bit much for you, why not consider sheltered accommodation or a care home. See HC-Care-Homes.co.uk to find a place that allows you to keep your independence as well as offering the medical care that you need. Apartment or cottage style properties, are popular because the staff comes in to help you, rather than you being in an entirely communal setting.

Time
It is also really important to constructively fill your time when you get to retirement age. Of course, you’d like to slow the pace of life down a bit, but you don’t want to come to a grinding halt! Make sure you have activities to do that are fun and stimulate the brain and the body. Try dancing, crafting or use this time to indulge a well-loved hobby, that working every day wouldn’t allow.