Retirement can be a fun and rewarding phase of life, if you prepare for it correctly. Perhaps it was that hippie philosophy of just ?chilling and taking one day at a time? but unfortunately, there are tens of thousands of?older individuals that simply didn?t properly anticipate the next stage of life.???So many of them will have to work their entire lives.
Here are?some pretty convincing reasons?why young people need?to start preparing for retirement?financially, so that when retirement does creep into the picture, you are prepared.
In Retirement You Can: Go Anywhere You Want
Ready to take that trip to the Grand Canyon, or spend a month in Italy doing nothing but sleeping late, eating delicious food and enjoying the good life? When you?re retired, there?s no job to rush back to after the weekend draws to a close! If you?ve prepared properly and have the necessary funds, there?s no limit to where you can go and how long you?re ?allowed? to stay. If you want, you can even?sell your home and buy an RV to travel around the country!
If You?re Prepared Financially?You Can?Live Where You Like
Many people share the familiar desire to relocate somewhere better. Whether it is for more sunshine, less rain and snow, or to be closer to family, the ocean or a sports team you love, retirement makes it a reality. Choosing a place to live is a lot simpler and freeing when you don?t have a career to consider or financial worries.
Retirement is for: Spending Time with Your Family
By the time most are ready for retirement, they?ll have sons and daughters, nieces and nephews, and likely a few grandchildren to keep them busy. Freeing up 40-50 hours from your schedule every week affords you the freedom to visit the ones you love as frequently (or infrequently) as you?d like, instead of having to only visit family for holidays and birthday parties.
If You Want to Keep Busy You Can Open a Small Business
Retirement has this cool benefit of allowing you to work, if you want to, and focus completely on things you care about. Start a small gift shop, open an ice cream parlor or run a Bed & Breakfast to meet new traveling friends. If you?re business-minded and smart about your investment, you can even make a little bit extra cash to add to that retirement fund.
If You are Prepared for Retirement You Can Build Your Dream House
Right now the value of property is so low, it?s never been easier for people to build, or re-build their own homes. Retired folks have the already mentioned freedom of location. Without cluttered schedules and the stress of a 9-5 work day, you can get started on building that ?perfect home? you?ve always dreamed of. You can own 10 acres of land and get seven dogs, because you have the time to take care of all that. Or you can retire to a quite one bedroom cottage in the country; it?s up to you!
Retirement can be a great blessing, but you have to intentionally prepare for it from an early age. Start setting aside a portion of your income and saving every penny not already allocated to something vital, because when you?ve outgrown the work place, you?ll need it. The more you prepare for retirement, and the more you think about it now ? no matter what your age ? the more freedom you?ll have to do all the things you?ve ever dreamed of.
See Also:
Do you know what you need to retire?
High Performance Savings Accounts
Choosing The Best Bank
Retirement Planning- Start Early
The Downside of Using a Financial Planner
Annuities: a Great Way to Fund Your Retirement
The Pros and Cons of an Early Retirement
The Wealthy Buy Assets, the Poor Buy Liabilities, and the Middle Class Buy Liabilities Believing They Are Assets
Retirement ? Don?t Let A Chronic Condition Ruin Your Life
Saving tips for seniors ? Making mobility problems more affordable
About the Author:
Larry Shipley writes for several financial sites. Read great articles,like this one on retirement planning, to get prepared for retirement.
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Source: http://yourfamilyfinances.com/2012/11/03/preparing-for-retirement/
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