Prepare for retirement now
November 15th, 2008, 2:35 am Hobbies Ideas
Some look forward to it, while others dread it. Some choose to retire, while others are forced to. It can be a time of pleasant anticipation or unbridled apprehension.
The majority are saving money (67 percent). Others are starting a business (53 percent) and pursuing hobbies and interests outside work (53 percent). About 43 percent are getting involved in community activities and 37 percent are buying retirement plans.
While organizations are expected to provide assistance, there is no substitute for planning ahead. Some things to consider in preparing for retirement:
1. Save whenever you can, or/and invest your money early. If your employer offers a retirement savings plan, sign up for it now.
2. Budget your money. A budget checks unnecessary spending, helps you see where your money goes and frees up cash for retirement savings. Before you create your budget, think about the short- and long-term financial goals you want to achieve and be honest about the time it will take you to reach them.
3. Pay off debts, or stay away from them! High-interest debt eats up precious money that could otherwise be put toward your retirement savings. Credit cards are convenient but the high interests are costly and creep up on you!
4. Be in good health by being active and eating well. Healthcare gets more expensive as one gets older, and few organizations cover anyone beyond 65.
5. Plan your activities. Learn new things. Discover new hobbies. Develop a healthy outlook. Try not to attach your identity to the work you are doing at present.
6. Stay connected with your loved ones and friends. While still employed, you might not be spending as much time as you want to with them. Remember, jobs come and go, but relationships endure.
Tags: anticipation, apprehension, financial goals, good health, high interest, interest debt, jobs, pay off debts, relationships, retirement plansRelated posts
