Everybody needs to retire at some point in time. Whether one is a working maid or the CEO of a multinational and no one can deny that they don’t knit their retirement dream to be a perfect one. One good house to turn into a home, a good amount of money in the bank to cover the daily expenses or an emergency and a happy family, these three definitely make it to the retirement planning list of everybody. To have a safe and sound retirement life, you need to have a plan for retirement and implement it. The ‘live for today’ motive does not promise a bright tomorrow!
Don’t live for ‘now’. Don’t just assume that you will be this much energetic and full of strength to work 8 hours a day, 6 days a week all your life. Rather, look closely in the mirror and face it that soon you are going to wish that all this ends into a good comfortable work free life. So, motivate yourself strongly enough to start preparing for retirement. Plan ahead of your time and income to relish your desires even after retirement.
Start saving now:
Haven’t started your retirement planning yet? Start now by saving all you can save! The sooner you start, the more you save and that is the best you can do to make your ideal retirement dream come true. The earlier you start the less is the yearly percentage that needs to be saved up from your income. If you are single and choose to stay single, you may get a lead, but that too for how long? And if you are married and have a family but haven’t saved up much then with the bringing up of children, their school to college and then your retirement, well, you have a long way to go. Don’t worry, just cheer up and lay the foundation of your retirement plan right now.
Avoid needless expenses:
Buying the latest phone when all the bills are left unpaid, or going for a holiday trip through your credit card? You are soon going to end up in a web that will get tighter and tighter turning into a poor retirement trap. So flip the coin to reality and make yourself realize that for the comfort of getting a comfortable retirement, this is a golden rule.
Try to work longer:
You are young and you are tough and right now you have the nerves of steel to work. So, beforeyou turn into the wrinkled body, slow walking feeble form, work! And why get retired so young? Try to work for these healthy years and make your old time full of fun.
Avoid inactive lifestyle after retirement:
You should try to live a healthy and active life style. Try to get some part time job. You should find a light work job suitable for age before preparing for retirement. It not only keeps you busy but also adds to your savings.
Buy an apartment and avoid renting:
If you rent, you will need more money to pay it and when saving for retirement, rent is a deduction cheque. On the other hand if you own your own place, you will be debt-free. Try to be mortgage free before planning for retirement as the interest you pay for mortgage is more than the tax you pay for your property. When one knows that he has his own place, the fear of losing shelter fades away and makes living your life easy.
Avoid credit card debt:
People of developed countries are stuck with their unending bills of credit cards, heaped up tensions and the desire to shop and shop. What we forget is the interest that is added and the amount to be paid stacking up. So cut your credit cards into pieces and start living on the real money.
A well thought retirement plan is the best you can do to prepare yourself to live your retirement life at its full.