There are many things people regret over their lives. Some people wish they’d traveled more, some wish they had taken more risks with their careers, and still others regret not following their dreams. In fact, according to a recent study from Allianz, nearly 30 percent of individuals regret major choices they’ve made in their lives.1
More and more, retirement is becoming a time when people can go back and do some of the things they regret not doing. Before you make the most of your retirement, you should think about planning for it. Effective planning can be one of the best ways for you to live a regret-free retirement.
Below are a few tips to help you when thinking about your retirement:
Don’t just plan the financials. Also plan your lifestyle.
There’s more to life than money, and that’s true of retirement, too. Many people focus only on the dollars and cents of their retirement plan. That’s not to say it is unimportant to plan your retirement financials, but you should also take into consideration how you want to spend your time.
What goals and dreams are important to you? Who do you want to spend your time with? Where do you want to spend your retirement? These are all things you may want to consider as part of your retirement planning. To help you sharpen your goals and objectives, you may want to take some time and write a vision statement describing your ideal retirement.
Retire when you can still enjoy it.
If you think you may not have enough money for retirement, you may think working longer is the answer. But that may not be the case. The point of retiring is to enjoy life. You may want to make sure you stop working while you’re young enough to have some healthy active years.
There are ways to retire when you want and still have enough money to live the way you want. Instead of working longer, you could consider adjusting your budget or savings plan to help you retire sooner. Even small changes can have a big impact when it comes to retirement planning.
Work with a financial professional.
Retirement is a complex process. It may be the biggest, most complicated financial challenge you’ll ever tackle. It’s difficult to see past the uncertainty of retirement, and you may not even know what challenges you face until after it’s too late.
A financial professional can help you identify challenges and develop a strategy. A good, solid strategy can help you have a retirement that you want and help you live the rest of your life regret-free.
Ready to start planning your regret-free retirement? Contact us at Coventry Financial. We can help you evaluate your objectives and needs, and then develop a strategy. Let’s connect soon and start the conversation.
This information is designed to provide a general overview with regard to the subject matter covered and is not state specific. The authors, publisher and host are not providing legal, accounting or specific advice for your situation. By providing your information, you give consent to be contacted about the possible sale of an insurance or annuity product. This information has been provided by a Licensed Insurance Professional and does not necessarily represent the views of the presenting insurance professional. The statements and opinions expressed are those of the author and are subject to change at any time. All information is believed to be from reliable sources; however, presenting insurance professional makes no representation as to its completeness or accuracy. This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice.
16112 - 2016/9/20