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18 Feb 2018
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Things you should know if you're planning for retirement

Picture this is your head: you are just settling in at your financial advisors or broker's office, about to talk about your retirement plan and how much you will need to save to be comfortable. What if there is more to planning than just what you want to do with your money. What about planning your hopes and dreams for retirement? This article is going to cover some points you should be thinking about to get the most out of your planning. You worked your whole life for this moment, and you deserve to enjoy your retirement to the fullest.


Things you should have in mind when you are planning your retirement are:

• Where are you spending your free time now?
• Where are you spending your extra money?
• What strengths would you like to develop? 
• What weaknesses would you like to conquer? 


These are important things to think about, because leaving a job that has consumed a large part of your time can leave a void in your life. Look for new hobbies and interests that you are excited about. Volunteering is a great way to get fulfillment and give back to the community. When you are close to retirement and looking at your budget, the "spending 70%-80% of your income" rule should be applied. You should look at your current spending habits and come up with a plan on how you are going to spend once you are out of the workforce. Are you going to travel, dine out frequently, downsize? These are things you need to have planned out, so now is the time to start organizing your life. Downsizing and living within lower income boundaries will get you into the habit of living by those means. 


Retirement is something that you should be looking forward to, and this is only the tip of the iceberg when it comes to planning. This is something that shouldn't stress you out, but give you increasing relief as the time gets closer. When you decide it's time to start planning, make sure to give the team at DRDA a call. With the best team possible, they will make sure that you get  taken care of so you can bask on a beach in the Bahamas without a care in the world.

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