How do you plan to make your retirement the best it can be?

Do you plan to learn new things, take up a hobby, go back to school, volunteer or continue working part-time?  What is your social circle like?

Do you have supportive and rewarding relationships with friends and family?

When you retire, you initially feel a sense of loss as you reorient yourself and then adapt to your new situation.  Essentially it is like the next chapter of your life, with the most important non-financial aspects being that you embrace it with a positive attitude or mindset towards being busy, active and independent. Preparing for this next chapter requires a plan and the resources to find the best solution that works.  Transitioning into retirement with confidence means you have answered these five important questions and have a “Personal Plan” to understand your cash flow requirements.

1. Who do you picture yourself with in retirement?
2. What do you see yourself doing in retirement?
3. Where do you plan on living when you retire?
4. How will your health impact your retirement?
5. Do you have enough money if you survive to age 95 or even 100?

Christine’s Tip:

Remember that retirement does not have to be the end of your working life.  Continuing to work at a less demanding job or even part-time into retirement can help to fill the financial void once retirement starts.  It may even provide other important aspects to one’s retirement such as social connections and mental stimulation.  Discuss your situation with your advisor so that they can work with you to create a plan that meets your individual goals.