Retirement is one of the most significant changes you will ever experience and yet most people do more research and spend more time planning a holiday, than they do their retirement.
Up to now retirement planning meant, 'Do you have enough money?' because retirement planning comes from financial planners and life insurance companies. However if we are going to be spending 30 or 40 years in this phase of life, we need to plan for it properly and well in advance.
Despite the significant changes taking place, most people are living in today's world, and planning yesterday's retirement. So why should we approach retirement differently?
• Retirees today are much healthier, more active and can expect to live longer than they could in the past. We are in a unique position and facing a future that looks nothing like our parents' second half of life. • Our retirement plans are reflections of those of our grandparents or parents but our chances of living a long life are not. We're living in the 21st century and planning a 20th Century retirement! • Attitudes regarding health and well-being are short sighted. Our lifestyle habits such as diet, smoking and drinking, illustrate the extent to which we prioritize the present at the expense of our future. • When it comes to planning finances, our disregard for the future is blindingly obvious. Many people are saving nothing or too little towards their retirement. Increasing levels of debt are being accrued with many unaware of the difficulties they will encounter later in life, or are unsure how to plan for them. • The percentage of people in mid life who are divorced or separated has more than doubled over the past 20 years. A fact which places greater pressure on our ability to look after ourself. This was less necessary in the past, when most people were in stable couple relationships.
Your retirement will be as unique as your fingerprint. With effective planning you can transform how you approach retirement and the enjoyment and fulfillment you get from it.
Make the most of the opportunities it can offer and start planning now!
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