The retirement models that we may be familiar with — our parents, already retired coworkers, retired friends — may not work for us. Why? Many of us are the first group to reach retirement and live in retirement as long or longer than we worked.
As such we enjoy longer lifespans, better health, and more active lifestyles. Our numbers drive many consumer options — there will be more retirement activities, and lifestyles available. Remember that there is no “canned planning process”; however, there are some recommended steps:
1. Start assembling information pertinent to your retirement:
- financial
- use of leisure time
- personal adjustments
- fitness and health
- housing
2. Share your thoughts with those affected, but also discuss your ideas with people who may be able to contribute ideas or counterpoints – these could be retired friends. Also make full use of professionals available to you.
3. Set realistic goals in the following areas:
- retirement income
- health
- housing
- activities
4. Put your plans in writing. By putting your goals in writing they take on a definite form. Add to your list needed actions and deadlines.
5. Review your plans annually and update them as you experience personal changes.