Tips For A Comfortable Retirement

Sarah Lifestyle

A good parent is one that puts in 18+ years to devoting all of their resources to their children.  From education to nutrition, to basic needs like bathing, and buying them clothes.   All of our actions lead back to somehow benefiting the best possible future for them.

It’s important not to forget your own future, however.  It’s not safe to assume that all of your children will be surgeons with 6 figure salaries.  Are you?  Putting that kind of pressure on your children to take care of you in your old age isn’t fair to anyone.  

Envision a retirement where instead of sitting in a rocking chair in a retirement home, you are instead riding horses in a beautiful field.  Or perhaps you’re on the golf course, using a futuristic laser rangefinder.  Or maybe you’re just sitting on your porch in the Bahamas sipping a virgin cocktail.  Take small individual steps now to ensure that you can live a happy and comfortable retirement after all of your children have left the nest.  Follow these simple tips, and lay out a wonderful road map for your golden years.

Start Putting Money Away

It’s never too late to start putting money aside for your future retirement.  If you have been pinching pennies up until this part in your life, but are finally in a comfortable enough place to put a bit side, you can start with as little as $100 a month.   

Additionally, consider a Roth IRA account.  This is a retirement account which you pay taxes on at the time of the deposit of the funds, but not when you withdraw it at retirement.  It grows in interest, and by the time you are ready to retire, you have a nice little stash of money.

Obtaining additional money during retirement may be a top priority for you, if your income has been reduced too much for you to live comfortably. The idea of having an additional mortgage payment may not appeal to you. Therefore, if you think a standard mortgage is your only option, you should know you can also apply for a reverse mortgage. A reverse loan is money you can receive based on a mortgage amounts calculator tool that will assess how much your home is worth. That money will not be owed back in full for as long as you continuously stay in the home and continue to own it. Therefore, there will be no extra bill to pay regularly and no reason to fear default or eviction.

Consider Retiring Abroad

It’s worth doing some research on retiring abroad.  In certain places like India, full-service luxury retirement homes are a fraction of the price of something quite modest back home.

Do you research and communicate your intentions with your children now so they can assist you later if you decide to make that choice.  

Take Care of Your Health

What is the point of planning for an extraordinary  retirement, if you’re just going to be in bad health once you arrive there? Put effort into your health by committing to 30 minutes of exercise a day.  

Limit your drinking to a reasonable amount, and if you really must get crazy, save it for special occasions.  Eat sensibly, and smoking is probably not the best choice, as science has shown.

Pay off Debts

Make sure to pay off any debts before reaching your retirement age.  Retirement is a time of finally reaching a point when you don’t have many obligations, very little worries, and can simply enjoy the rest of your life calmly.

Get rid of extra stress by paying off those debts now instead of later!