Many older Americans today are not ready for retirement. They are unprepared, but that doesn’t mean you have to be like them. Think about this, if you were to retire right now, what are the odds you would lead a very satisfying life? Below are the ten commandments that will help you prepare and have a successful retirement.
Save As Much As You Can
Don’t retire to become someone’s obligation. It’s a time to be independent, and this can only happen with the help of planned and sufficient savings. Make retirement savings a priority and place it on top of all other goals. Don’t depend on social security but plan and invest in getting a steady income stream after retirement.
Take Care of Your Body
In retirement, nobody is getting any younger and taking care of your body guarantees you good years of retirement. Join a gym and work out. Keeping your muscles strong will help avoid falls and injuries that often start a downward health spiral for many older adults.
Pursue Your Passions
You have no professional obligations in retirement. It is time to enjoy freedom. Explore things, travel, and do something exciting and let no one stop the fun.
Make Friends and Cherish Family
Don’t be the bitter grandma or grandpa whose grandchildren and other family members fear to visit. Make friends and love them together with the family. That’s the perfect way to get rid of loneliness and depression in retirement.
Prioritize Health Care
Aging often comes with some complications. Place healthcare on top of the list of fixed expenses. Be sure to include Medicare and prescription drugs. Obtain supplemental insurance, if desired.
Don’t Assume Someone Will Take Care of You
It’s one’s responsibility to take care of themselves in retirement. Prepare financially for hiring home assistance if self-care becomes difficult. No one wants to feel like a burden to family or friends. Look into long-term care insurance.
Don’t Spend More Than You Make
Living within your means will reduce stress in your life. Retirement can be easily ruined by spending on desires and wants that are more than the available income.
Try New Things
There was a time when trying new things meant sacrificing time, money, and other resources. Now, time is plentiful, and freedom should be enjoyed. Trying new things makes life more meaningful in retirement and also eliminates loneliness and depression.
Enjoy life and do fun things with friends, family, and most of all the grandchildren. They are young, free, and fun, utilizing this can lead to the happiest retirement ever.