Planning For Retirement

Retirement planning

Retirement planning is arguably even more of an important part of preparing for retirement today than it has ever been in the past. When you finally retire you will be able to live a much healthier, much more active life and with the ability to live it at your own pace. However, with an extra forty hours of free time a week to spend as you wish, on top of the free time you had outside of your work, it can be challenging to actually make the most of this time and not waste it.


One way around this challenge is with effective retirement planning to ensure that you get the most out of your retirement. It’s not that different to taking a holiday, most of us spend hours if not days planning what we will do, where we will go etc and that’s just for a couple of weeks, this is for the next thirty years or even more so it’s worth spending some time planning it so that you can make the right choices and to enable you to enjoy it to the full.
Retirement is a time of opportunity and choice. You have the opportunity to do all the things that you’ve always wanted to do but never had the time because of the demands of your work. You will also make choices and you can choose to take whichever opportunities that you like. For probably the first time in your adult life, there will be no-one demanding your time – you can choose how and on what to spend it.
In order to make the best decisions and choose the right options for your circumstances, you need to think about them and plan them – just as if you were planning your annual holiday. If you don’t, there is a much higher likelihood that you will make bad choices without thinking them through.

Retirement is to be enjoyed and whilst there is, of course, the opportunity to be spontaneous and in fact spontaneity is one of the great benefits of retirement you will enjoy it more if you make the right choices and plan ahead.
You may feel that it doesn’t matter and that, if we make the wrong choice, we can stop doing whatever it is and do something else which to a certain extent is probably true. However, in the meantime, you may have already spent some or a lot of your time and money before you realise that you made a mistake and that you don’t have the time or that it doesn’t fit into your schedule.
Planning retirement will help to ensure that you the correct choices meaning you will enjoy it more and will not be required to waste time. The goal of retirement is to enjoy it and get fulfilment from it. We have worked all our lives and, hopefully, enjoyed at least parts of that work if not all of it but whether we have or not, it’s undoubtedly been largely dictated by other people and their actions – but retirement is all about you.