Health and Wellness



Retirement Planning

The mistakes you can make when planning for your retirement are many, the chief one being lack of  foresight.

Retirement and the days when gainful employment comes to an end can creep up on us very quickly. Working life is busy, too busy to give us time to stop and think about how we will handle the days when it all ends and we have to face the life-changing time of reduced income and failing health. While contemplating the bliss of life without alarm clocks and schedules, we very often fail to plan for what can be a challenging time.

One of the biggest mistakes we make is failing to plan on moving from our family home to more manageable accommodation. Usually, the family home is designed to cope with a number of people and their visitors. However, when your retirement arrives the children usually have homes of their own. Why then continue to maintain a space larger than you need? Larger homes are more expensive to maintain and the work involved in caring for them becomes more challenging. The biggest mistake you can make in your retirement planning is not downsizing to a more manageable home.

Another aspect of retirement that needs careful planning and that is often neglected, is health care planning. Many of us fail to realise or admit, that these later years of our lives will bring declining health and increasing health care costs. The years before retirement are the time to plan for this eventuality.

 Caring for your health in your retirement necessitates putting a health care plan in place.

Declining years will lessen your ability to care for yourself. You will eventually have to depend on others to cater for your needs. To guarantee that you have control over your life at this point, it is vital to have a care plan in place. People who do not prepare for this eventuality very often are cared for by people or in places not of their own choice.

Retirement can be expensive. Many people do not save adequate amounts when they are in paid employment leaving them with less financial independence in retirement. Likewise, they do not update their retirement plans to ensure financial security in their later years.

Retirement is meant to be a happy time when you can reap the rewards of a lifetime’s work. Avoiding mistakes in retirement planning can guarantee less stress and more enjoyment in those years. Some forethought and careful planning will guarantee that the Autumn of your years will be as it should be, a time to relax and reap the benefits that a busy life has brought.




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