Are You Ready for Retirement?

 

 

 

If you are thinking about retirement, you may be wondering if you are ready. One concern many older Americans have regarding their retirement is whether they have saved enough money. On this score, experts state you don’t need enormous wealth to be happy in retirement, but just need enough.

So how much is enough for you to live well in retirement? Again financial planners say you do not have to match your annual income to be comfortable as you will not be paying for commuting costs or paying into Social Security and Medicare. You will also not be putting money into a retirement account. One guideline suggests you may want about 80 to 85 percent of your preretirement income, and perhaps less is you have a paid-off mortgage.

Another thing to remember is your time is worth a lot and retirement does not have to be about expensive vacations and entertainment but rather giving you the time for the little things in life. Enjoying dinner with our family, spending time with friends, or playing with our grandkids have all become more precious during the pandemic and most of us cannot wait until we have the opportunity to do these things again.

Making your health a priority is also important and while we cannot control our genetics, we can do some things to help improve our health including getting more exercise and enough sleep. Keep in mind that doctors say any exercise is better than none. In fact, a large survey of 334,000 Europeans found that “the biggest beneficiaries of exercise — those who went from inactive to moderately inactive — had a 16 to 30 percent drop in premature death risk.”

Other tips to enjoy your retirement years more fully is to have a purpose. Maybe you always wanted to donate time to a charity, work in local youth programs, or organize fund-raising activities for your church; retirement is a great time to start. Moreover by this summer, hopefully most of us will be vaccinated and leading more normal lives so be ready to get out and really start living yours!

At the MorningStar at Golden Ridge senior living community, we are proud to offer the area’s finest independent living, assisted living and memory care. We accomplish this with the help of a dedicated team of individuals who understand it is a privilege to serve seniors. Please visit our website to learn more.

MorningStar at Golden Ridge’s distinct mission statement “to honor, to serve, to invest” sets us apart from other senior living options. Our foundation is built on honoring God, valuing our seniors and hiring staff with a felt calling to serve. We are in a warm, loving environment with exceptional architecture and resort-style amenities. Please visit our website to learn more about trusted independent living & assisted living in Peoria, AZ.

Source:

aarp.org/retirement/planning-for-retirement/info-2020/5-secrets-to-retire-happy.html