There is more to retirement planning than the financial issues. As a psychologist, I see people with avoidable emotional issues. If you incorporate mental health and life legacy goals into your planning as you approach retirement, you can create a happier retirement.
Start saving up- saving a few dollars evrytime you get your salary can be very helpful if done for a long-term period. No matter what it is for, saving up is a rewarding habit. It is actually best if you start out early because you’ll be able to let your money if you start soon. You should put saving for our retirement a priority. Make a lear plan and don’t stray from it. Set your own goals and picture the benefits you’ll be having if keep it up till the future.
The downside to receiving benefits at age 62 is the reduced rate is permanent. Sometimes there are good reasons for choosing benefits at this age. For instance you may not be able to physically perform your work anymore. However, if the reason is you need money and do not have other income sources, you are wasting a golden opportunity at more retirement income on a permanent basis.
http://ezlocal.com/mn/new-ulm/financial-consultant/687211 is about time management – you have the choice of earning money or using it to give you time. The better you plan, the more time you’ll have.
Travel with me down a different road of thought. I have lived in retirement for the past 7 years in Asia, in the beach resort city of Pattaya, Thailand. Being a tourist destination, you immediately picture an area with a beautiful bay view, fine restaurants, and entertainment galore. It is more than just that. It is so easy to get around the city using public transportation that my car sits in the driveway. We have modern shopping centers, movie complexes, health spa’s, fitness centers, golf courses, and even an IT center with 5 floors of computers, mobile phones, and electronics. Pattaya has not one, but two International Standard hospitals. Health care is affordable.
If you have children already, the first thing that goes away when you decide to stay at home is the cost of daycare. However, if you work at home, part of that cost may remain, unless your work is such that you can keep the children home with you. Take a look at how much of your income right now is going to daycare. That cost alone may prove to you that you don’t need a high-paying work at home job to stay home – a simpler one may suffice.
Security – try to ask yourself whether you are secured or not. After asking this question you can now evaluate fully yourself about the things that you are lacking of. So with this you will have to find out all the social security benefits that can be applied for in your area. By this you will not be acting like a beggar in the end because you are now secured fully when it comes to financial and other matters.
Let’s take a look at an example of the early saver versus the late saver. The use of the magic of compound interest will astound you…Albert Einstein called compound interest the “eighth wonder of the world”.
In addition to these weekly agendas, it is vital that you track your results in some manner. In the past, I’ve personally made a giant chart where I could mark my savings on a monthly basis. I even created a colorful, attractive title to label my savings chart. Doing so, inspired me to continue with my efforts in order to achieve my precious goal.
As I wrap up remember to set some type of retirement goal just like you set a golf score goal. Maybe you want to break 80. Maybe you want to save ,000,000 in your retirement account. Both items are up to you. I began this article about golf taking time and dedication. Retirement saving takes the same time and dedication it that it is mostly up to you to put the ball in the hole or retire successfully.