Realistic Strategies for Retirement RETIREMENT IS THE TIME WHEN YOU THINK OF SPENDING YOUR REST OF YOUR LIFE IN YOUR OWN WAY. ALTHOUGH BY THE TIME YOU GET RETIRED, YOU HAVE ALREADY GOT USED TO THE DAILY ROUTINE, YOU HAVE BEEN FOLLOWING FOR MANY YEARS. BY THE TIME YOU REACH THE POINT OF RETIREMENT, THE MOST IMPORTANT THING WHICH KEEPS REVOLVING IN YOUR MIND IS TO PLAN YOUR FINANCES FOR THE REST OF YOUR LIFE AFTER RETIREMENT.
DO YOU REALLY REQUIRE 100 PERCENT OF YOUR PRESUPERANNUATION INCOME TO RETIRE? THAT MAY BE TRUE WITH THE CORPORATE EXECUTIVES WHO LEAVE WORK WITH GILDED SKYDIVERS. IT WON'T BE A PRACTICAL METHODOLOGY FOR THE VAST MAJORITY OF US. YOU CAN RETIRE ON SIGNIFICANTLY LESS AND A LARGE PORTION OF US DO. HERE ARE FEW TIPS SHARED BY MATT DICKEN OWNER OF STRATEGIC WEALTH DESIGNER FIRM TO HELP YOU SET UP TOGETHER STRATEGIES FOR RETIREMENT.
Assess your assets: THE FIRST AND IMPORTANT THING YOU NEED TO DO IS COUNT YOUR ASSETS ON WHICH YOU RELY FOR YOUR FUTURE NEEDS. IF YOU HAVE A PENSION, THEN IT WILL BE MUCH RELIEF FOR YOU. NOW LOOK AT YOUR DEBTS. YOUR HOUSE MORTGAGE HAS BEEN PAID OFF OR NEARLY? NOW IS THE NO TIME TO TAKE NEW DEBT SO ASSESS YOUR FUTURE REQUIREMENT CAREFULLY AND AVOID TAKING A BIG LOAN FOR THE NEW ASSET.
Downsize your Housing: AFTER RETIREMENT, MANY PEOPLE WANT TO GO TO THEIR NATIVE PLACE IN AN OLD SUNBURN HOME. HOWEVER, THE EXPENSE OF CARRYING ANOTHER HOME WOULD BE A LIABILITY. IT WILL BE WISE TO SHIFT TO A SMALLER HOUSE IN A LESS EXPENSIVE NEIGHBORHOOD WITH MINOR TAXES AND LESS MAINTENANCE.
Do Not Support Your Kid’s lifestyle: AS PER THE OLD SAYING, IT IS GOOD TO GIVE ROOTS AND WINGS TO YOUR KIDS. ROOTS TO KNOW WHERE IS THE HOME AND WINGS TO FLY. AFTER COLLEGE, IT ISN’T APPRECIATED TO ASK YOUR KIDS TO USE THEIR OLD BEDROOM. THEY NEED TO BE INDEPENDENT AND RAISE THEMSELVES BY THEIR OWN. IF THEY ARE SHARING HOME WITH YOU THEN, MAKE THEM PAY RENT AND SHARE OTHER EXPENSES. IT WILL BE GOOD FOR BOTH YOU AND YOUR KIDS.
Go International: SOME PEOPLE PULLED UP STAKES AND MOVE TO OTHER COUNTRIES AFTER RETIREMENT. IN LATIN AMERICA, THERE ARE RETIREMENT ENCLAVES FROM MEXICO TO COSTA RICA TO ECUADOR. SOME MOVED TO MALAYSIA AND THAILAND AS THESE COUNTRIES ARE RELATIVELY SAFE AND COST OF LIVING IS LESS. SOME AMERICAN LOVE TO RETIRE IN THEIR GRANDPARENT’S LAND WHERE THEY USED TO HAVE FAMILY SUPPORT.
Find the Free Entertainment: IF YOU WANT TO ENTERTAIN YOURSELF, THEN IN YOUR OWN HOME TOWN YOU WILL GET NUMEROUS OPTIONS FROM, SUMMER CONCERTS TO FALL FESTIVALS TO EXERCISE CLASSES IN WINTER. THESE ALL ARE FOR FREE OR AT LITTLE COST FOR SENIOR CITIZENS. MOST OF THE PEOPLE DO NOT ASK FOR THESE OPTIONS. YOU CAN ALSO CHECK WITH YOUR AREA LIBRARY AND CHURCH OR SOCIAL CLUB FOR MORE REWARDING ACTIVITIES.
MATT DICKEN IS THE FOUNDER OF STRATEGIC WEALTH DESIGNER FIRM WHICH PROVIDES FINANCIAL STRATEGIES. A HOST OF A FAMOUS TV SHOW “ASK MATT DICKEN”, MATT HELPS PEOPLE TO TAKE CRUCIAL DECISIONS ON FINANCIAL MANAGEMENT.
For the More Information: HTTPS://WWW.FACEBOOK.COM/STRATEGICWEALTHDESIGNERS/ HTTPS://WWW.LINKEDIN.COM/IN/MATT-DICKEN HTTPS://WWW.YOUTUBE.COM/CHANNEL/UC-0QFWSGTFEQEKIKVQGSMQW HTTPS://TWITTER.COM/ASKMATTDICKEN HTTPS://VIMEO.COM/ASKMATTDICKEN