"Well, I didn't grow up with that word 'retirement' as part of my consciousness. I didn't grow up with professionals that retired. I thought retiring was when you were tired and went to bed."
- Ruby Dee
Retirement is a phase of mixed emotions. The endless worries of dealing with the financial crises and staying healthy are some common thoughts that almost every individual goes through.
No matter how much you love your job, deep down, we all know we have to retire from our dream job and take a rest from all responsibilities we are carrying on our shoulders at the moment. The idea of not working at all and not earning anything after work seems dreadful for many of us. Call it the upsurging of financial insecurities or the feeling of losing your importance in the family; the retiree juggles with a lot of thoughts.
Rather than considering it as a challenging phase, one should look at retirement as the second innings of life that is full of life. As it is a profound milestone to achieve, one should look upon living a carefree life. But that's when you have managed your life in the present wisely. To live a great retirement period, you should be good enough to plan for it many years before you approach it.
Here's how to do it.
#1 - Ensure you are all set for retirement - Retirement age and phase have their pros and cons. But above all, the best part is optimizing your optimal time to wave off work worries and enter your retirement. There are many plans and policies to help you do so. Besides this, you should surf through the formal retirement age criteria of the respective country you live in. Here, the best step is to consult a financial advisor early to be prepared for your retirement.
#2 - Talk to your employer about it - You need to take the initiative for your financial security and talk it all with your employer. Be clear if your employer provides a retirement plan or not. If yes, you should be less worried about your retirement. And if not, you may need to make some tough decisions for a secured retirement period.
#3 - Learn about the crash proof retirement plan - Many retirees have named it a safer way of entering retirement. The whole concept of a crash proof retirement plan is to analyze and educate investors about safe financial vehicles. These Crash Proof Vehicles are likely to save you from the high-risk investment fluctuations in the stock market. The overall credit interest on these 'Vehicles' prevents you from losing your principal amount even during the complete market crashes.
The last line -
The retirement period should be welcomed with a broad smile on your face and a carefree mind ready to enjoy the remaining part of your life. That's possible when you have been planning for your retirement in your working years. For this, consider the factors mentioned above to help you sail through the retirement period smoothly.