The 3+1 Most Challenging Retirement Issues

As you retire, there are many different issues and topics to take a deeper look at before even starting your retirement. Let’s face it: Too many take this part” too light,” and not until the first retirement amount is deposited will you wake up and face reality

There are three issues that concern retries the most. These issues also represent the most significant amount of money

Healthcare

You don’t worry much about healthcare during your labor life for two reasons.

1 You are younger and normally less in need of healthcare than older people are. We, humans, are like cars. When brand new, periodical maintenance service is enough. Many minor and major failures usually appear when your vehicle passes a certain age. After all, your human body is a sort of “machine” and falls into the same pattern as your older car.

2 Most employers have global healthcare insurances that cover most illnesses and diseases. When retiring, you have to cover the health insurance cost yourself.

In many countries, social security is good enough; at least, you don’t risk being without any health protection if needed. The cruel reality is that a private healthcare service in many countries is the preferred alternative.

The cost of healthcare insurance can reach huge levels, but without healthcare, what’s the meaning of life?

For many, myself included, healthcare is priority number one and something you will not allow to be on the negotiation table.

When retiring, you are supposed to live on your savings for the rest of your life. Usually, those savings consist of different parts, depending on how your employment contracts were configured during your active life in the labor market.

Many have a rough calculation of what amounts of money will be available when the time to retire. However, those savings or pension funds can never protect you from unusual events like Covid-19, when the global society literally had to close down for a while.

The high inflation we are facing right now, partly due to the pandemic, is another example of how your saved money can lose purchase value. In last week’s article, you got some good tips on how to deal with your life in tough times

To a certain extent, there is a space to reduce costs in your monthly budget, even if a limited one. But, the meaning of a pleasant life as retired should go that way

Independence and lifestyle

We all have pleasant dreams about how life will be when we retire. There will be much more time for family and friends. Together we will travel the world and explore all things we have on the “to-do” list but never had time to do during all our years working.

Then comes the day! What happened to all the traveling?

Instead, it’s more common to hear stories about senior parents living with their children, as the economy doesn’t allow them to live life as they dreamt about.

I wonder what does if that doesn’t qualify as a loss of lifestyle and independence.

The way to go is to take an honest look at your wealth blueprint. You need to make changes and devise a feasible plan for yourself.

The good news is that there are several alternatives for you. Watch the video to get to know all of them.

Here is the link to the video about my colleague Landria. Without any need for any previous online business experience, Landria and many others joined a movement to allow us to decide our destiny in life.

Passive Incomes Can Turn Retirement Challenges into Opportunities

It could seem obvious, but the best you can do for a successful retirement is to start planning. Whether you have already retired, there is always time to start planning.

The first thing to do with your planning is to come up with a number. How much money do you have, and how much do you need to live the life you want to live? Write it down! The difference between what you have and what you need is the magic number you should work on every single day.

Make a “to-do” list of what you need to do to achieve that magic number.

Carving on your “to-do” list, a plan for your retirement or continuing retirement will sooner or later see daylight.

Now, you have two choices: