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Are You Retiring Too Late or Too Soon? Analyze Your Options Before Making the Decision

It will come in the time that you want to rest from work for some reasons such as aging. With this, you plan to retire and start enjoying the life without worrying about work. However, tt is advisable to work on having a secure and comfortable retirement. To do this, you must first plan it and then work on your retirement.

Make Life Busy

To have a happier retirement, you must keep yourself busy. Studies show that those who have three to four regular activities and have good relationships and social interaction are most likely to lead to happy retirements.

This could enhance your physical and mental health. It will also prevent you from acquiring diseases such as Alzheimer’s. And most of all, you will enjoy your life and the environment around you.

What Interests You During Retirement?

Volunteering is a great way to keep yourself busy during retirement

Think the activities you know you want to do during your retirement. If you like gardening or volunteering then what’s stopping you?  Once you have determined the activities you like, know what kind of retirement income you will have to meet your needs such as food, housing, healthcare and activities. The following are some tips that you can follow during your retirement:

1. Volunteering

Helping other people is fulfilling and can benefit yourself as well. You may use your talent and skills to help other people. You can join an organization that is committed to helping needy people. Certainly, this could make you happy as you fulfill your purpose.

2. Join Seniors Association

Meeting and interacting with people at the same age as you can be extremely helpful for you. You will have the same likes and interests as you spend time with them. With this, it is advisable that you join or participate in a senior association that you can attend once or twice a week. This type of activity is great for your emotion and mental health as well.

3. Exercise

As you age, you tend to lose muscle strength. To avoid this, keep a regular, daily workout routine. Exercising will keep you energetic and healthy physically and mentally. The good news is, you will now have enough time to make any type of physical activity you want. Take time to take care and pamper your life during your retirement to enjoy the days to come.

4. Travel

Take time to travel during your retirement. Travel can provide you with a learning experience. You get to know new people and visit places you have never been. This will boost your understanding about people and the world around you resulting to an enjoyable life.

5. Meditate

This is the time to connect and know more about Spirituality. Meditation can make you feel peaceful and calm. Take time to meditate and be with yourself from time to time. This will keep you going in life and achieve a meaningful one.

Know your Income Capacity

Plan Your Retirement Income

Take into consideration the possibility that your retirement income might last for 35 years or more. This can be a long time. It is not advisable to choose a retirement that will last for about 20 to 25 years or from age 65 to 85 or 90. You just need to make yourself active and healthy and at the same time need your money to last a long time.

You must plan conservatively because you can never know what life can bring you during your retirement years. On average, a 65-year old couple retiring this year will spend about $260,000 on their healthcare retirement, according to Fidelity Investments. Some people will spend much more and some will spend less.

Enroll in Medicare

It is advisable that you enroll in Medicare on time. At the age of 65 or the three months before or after it, you can receive higher premiums. This is offered by some private insurance companies and by the federal government. They offer at least as much coverage as original Medicare and dental, vision and prescription coverage.

Prepare for Some Tax Rates

During retirement, you may receive income from different sources that receive different tax treatments. One example of this is if you have savings in a regular and taxable brokerage account. You will have capital gains tax rates on any assets that you intend to sell. The retirement saving accounts get also different treatments.


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