It feels like it’s the era will never come but trust us, it does. And it comes with a bang.
Today is all about retirement and ultimately, how you can plan for it better. We have collected several resources to help you along your way and hopefully, they give you some food for thought for this elusive era.
Where should you be living?
First and foremost, this link doesn’t necessarily state where YOU should be living – but it provides some interesting insight into where most seniors do reside in the United States.
Spoiler alert, it’s Florida. That’s right, the Sunshine State has the most seniors based on all of the statistics that this particular website has used – whether it be the percentage of seniors or the average age of people living there.
As we all know, retirement villages have become much more popular over the years, so for those of you wishing to spend your advancing years with others of a similar age this infographic is a good place to start.
Source: https://www.towncaredental.com/where-do-seniors-live-united-states/
The signs you are not ready to retire
This next link has been put together by Investopedia, who have revealed nine signs you should be looking out for if you are considering retirement. Put simply, if you notice any of these red flags, it’s a sign that you’re not actually ready to take the plunge just yet.
We’re not going to completely give the game away, but some of the signs are current problems paying bills, and even loving your own job. Take a read and see if you satisfy any of the nine. If you do, it might be time to rethink your future plans.
Source: https://www.investopedia.com/articles/personal-finance/021716/10-signs-you-are-not-ok-retire.asp
The late-starter guide for retirement
Following on from the above, we’ve picked this link out from the Telegraph. If you happen to be edging towards your 60s, this is the resource for you.
Granted, if you have absolutely nothing in place, even this resource might not be able to help you. For those of you who have at least made a start, it does provide some good advice. For example, it will talk to you about rebalancing your portfolio and even what to watch out for in relation to rises and falls with currencies. Both of these issues can wreak havoc with a plan that’s been very well put together, so they are worth considering.
A quick point is that you do have to sign up to the Telegraph to read the full article, but their free registration shouldn’t hinder you.
The retirement blind spots revealed
Next on the list is a link from CNBC, although it has been written on the back of a study from NerdWallet. That particular website ran a survey quizzing people on when they retired. The results were quite amazing, with most saying that they hit the button at 59. Suffice to say, this is significantly younger than most recommend.
As such, CNBC put this article together to talk about the possible blind spots if you do retire early. It’s a great starting resource for those of you considering retirement and thinking about the possible repercussions.
Source: https://www.cnbc.com/2020/01/07/the-retirement-savings-blind-spot-you-dont-realize-you-have.html
How will you spend your retirement?
A lot of the links we have featured today have studied the financials of the retirement – and rightly so. After all, understanding if you have enough money to survive once you leave the world of work is of paramount importance.
This final one takes a different look at the period. Instead, this is all about how you will spend it. At first, the thought of retirement might sound utterly appealing, but as soon as your routine is thrown out of the window you can be left scratching your head over what to do.
The Balance hasn’t necessarily signposted the things you should be doing, but they are instead asking you to just think a bit differently about how you will spend your retirement in a happy manner. It might be that you need some form of part-time work or volunteering, or you just need to get out and start exercising. Have a read and assess your own plans.
Source: https://www.thebalance.com/how-you-will-spend-your-retirement-2894357
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