Hitting your 50s can be a frighten time for most people, simply because they have been dealing with daily activities, daily stresses, they could have been in the ostrich mode of having their head stuck in the sand or they just keep putting off the whole retirement issue for lack of knowledge
For the individual that finally gets it, they realize that they have not saved nearly enough or perhaps anything at all. And they realize that they could be in some serious trouble in their later years, simply due the fact of not following any type of early retirement tips which, if followed more actively, could have
led to a retirement full of financial security and being in control.
The retirement groups – where do you place yourself?
There seems to be a group of individuals that have the mindset of just living off of their Social Security, They are stuck in a system of not understanding the need of planning out a retirement or they do not see the bigger picture of what their future, ‘the golden days” may hold. The end result is living off a low income of Social Security, living in poverty.
People actually feel that the federal government owes them something, They absolutely feel they deserve more by means of social security benefits and they get disgruntled when they can’t function with what they receive.
The majority of people do not realize that Social Security was not meant to be an entire form of retirement, it was only meant to cover as a cushion, about 30-40% of your retirement income. Yet people come to totally depend on social security as their full income.
The second group realizes they have little to nothing saved and now they need to do something about the whole situation. Yes it is called a serious catch up game and people are looking for any and all avenues to add extra income to their monthly budgets. Figuring out how to juggle this and that, making every attempt to rectify their situation
And of course the other group are those who have completely planned out their future, their retirement, they know where they are going, they know what it takes to have a successful retirement and have no worries about their retirement income no matter how long they live.
Change your thinking, change your plans, change your life:
- Get as knowledgeable about your own personal retirement situation
- Start checking out your Social Security benefits before you actually apply
- Factor in cost of living increases
- Factor in that people are living longer, (estimate that you will live to wonderful age of 100)
- With aging comes a whole new aspect of medical cost, assistant living costs,
- Do your plans include just sitting around the house or do all that traveling, fulfill your bucket list
- Will you need extra income, and how will you get it
- Can you downsize in anyway before you retire, the big toys, the expensive items
- Do you absolutely need that big house, many are now finding great satisfaction in tiny houses
- Learning to change gears with your real life, involving retirement. Financial independence can be done with some work
- Take a serious look at your own personal issues
- How long do you continue to spin your wheels, going nowhere, isn’t it time for a change?
- Figure out where and how you are going to get help
- Start figuring out how you are going to handle your retirement money
- You need to make quality changes in your life, be in control of where your life is going.
- If you don’t do this then the sad fact is that someone or something will take control over your life.
- Make handling your retirement money a new hobby, that you spend some time with each day.
- Find good guidance, a solid and success financial advisor, follow someone who has a track record of investing
Someday the outcome of where your life is headed becomes more clear, and you start panicking wondering if you have enough money to substantiate your full retirement.
Work with these early retirement tips to have your best retirement years
- Get right with your maker
- Get your affairs, you paperwork, in order
- Get your debts paid off
- Find extra sources of monthly income
- Plan out your estate or who will handle your problems
- Plan for any long term care
- Figure out if you need to downsize
- Start saving, keep saving….What most people fail to realize is that they need to continue investing and saving once they start their retirement years
- Spend a few hours each week getting knowledgeable about retirement
- Know your retirement needs
- Keep doing your retirement research, ask questions, get knowledgeable
- Figure out the best time to sign up for and start taking your social security
- Make a plan for your plans
No matter someone’s age, salary or financial status, when it comes to retirement everyone has the same thought of: :”I wish I would have started saving earlier for retirement years”. Anyone can use the early retirement tips at any age to make solid, stable, quality changes for a better retirement.
Never Stop Learning….Angela