So many times I’ve had to think of what life will be like after retirement. You are probably puzzled and wondering why I’ll be thinking of this when I’m not even so close to turning thirty!
The truth is that I can’t quite help it. I wouldn’t call myself much of a planner, but I do think of the future.
I follow some finance blogs, I read a lot about finance these days. Since relocating and having to learn about the credit system, mortgage and all that, it’s become important that I do since the only family I now have here, is that which I started haha: husband and I.
I try to learn more about savings, investments, etc. just to keep myself abreast.
When living in the city, you probably have a pretty similar routine throughout the years. Other than the occasional holiday, you probably go to work during the day spend around 8 hours there, then spend time on transport during your daily commute back home.
Maybe to spice things up, you go to the pub with your coworkers or something along those lines. It might sound slightly dismal, but it isn’t the worst fate that could await a person.
The problem with this kind of lifestyle is it becomes the same over the years, due to the lack of noticeable change in everyday life, days blend into each other, making time flow seemingly faster than usual. Before you know it, you’ve been working for a decade, and you still haven’t gotten around to doing all those things you wanted to do, then another ten years from then it will be time for retirement!
Maybe even sooner if you’re doing well for yourself, who knows. Let’s look at some things we can all get around to before it’s too late
Get Rid of Debt
This might seem easier said than done, but really, do it. Retirement should be a time of rest and being able to get out of the rat race. If you still have crippling debt hanging over your head like a guillotine while you’re trying to travel or relax in your garden, it’s just going to put a damper on the whole thing.
Put getting rid of your debt as a top priority ahead of time in order to be able to get that peace of mind at the end of the day. It really is worth all that prior hassle, to be able to finally go into retirement stress-free.
Not only is it going to be harder to pay it back later due to your probably old-ish age getting in the way of working, but the interest rates will just keep growing and growing.
Initially, I wasn’t aware that debt could accrue so badly, but adulting has taught me better and now I know.
Got a House?
Have you got some property? Do you plan on passing it on to someone eventually or are you just going to sell it? If you are planning on passing it onto someone through your will, you might already be aware that there is a lot of legal jargon surrounding the whole process and the last thing you want to be doing during your retirement is dealing with bureaucrats.
To make sure the whole process goes smoothly, you might want to make use of some probate litigation services. After all, there is a lot that can go wrong, and taking chances when dealing with large sums of money, like the value of a house, you do not really want any unexpected hiccups.
There’s been a lot of debate on whether to own a house or not. I’ll just say that you do what works best for you after taking time to do your research depending on where you’re located.
Travel the world at least a bit
Yes, you might be thinking that holidays are mostly reserved for retirement itself, but the truth is at that age you probably will not have any more energy to explore things then, than you do now.
While it is true that you can go and lay about on the beach in Spain the whole day no matter your age, doing something a bit more active might be a problem.
Want to go to see the Himalayas? You should probably get on that while you still feel somewhat young. Despite how harsh the realities of this scenario might sound, you are essentially doing yourself a favor. Besides, some holidays will do you good in the time when you are still trying to pay off your debts and take care of life.
You can read this previous interview on some tips to help you plan a travel trip.
In the meantime, please share with me below, how have you started planning towards your retirement?
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