Planning for Retirement


Retirement, “the action or fact of leaving one's job and ceasing to work” whatever the definition what we know is that it is a huge milestone, Whether you have been working for yourself or part of an organisation the day will come when, the next day, you don’t need to set the alarm or be somewhere at a specific time or place.

For many this day cannot come soon enough, they have already been planning for this day for years. It may mean a complete switch off, an opportunity to do exactly the opposite of their working lives; no schedules, no appointments, no plans just take every day as it comes. Others see it as the start of a new journey, far from having no plans their time is now driven by a new schedule, one of hobbies and activities once side-lined to the weekends and holidays.

Retirement is life changing, it is one of the biggest changes that we’ll have to deal with. Many of the other key milestones we face are already planned for us and we are given lots of help. For example, our first day at school, parents and teachers to ensure that we are equipped as best we can be for the change. We are guided through this transition period and have the reassurance of professionals who will see us through the educational years. Once we have finished our studies, we rely on our employer to help us make the next transition into the working world. Which is where, for the majority, we spend most of our life. We start our job at a junior level and then gain the knowledge and experience to enable us to grow and develop in our chosen career paths.

For many of these life events there is a “blueprint”. A path that has been walked before and we follow it knowing that the experiences of others has helped to shape it to be the best and most successful experience it can be.

To ensure our retirement is as we’d hope for then we need to plan ahead and ask ourselves some questions. The most obvious one is financial; do I have the funds saved to retire at the age I would like? Would I like to continue to work in some capacity? What do I want to do when I retire? Where do I want to live? Is my home future proof, will I need to adapt it as I grow older? Would I like to live as part of a community? Would I want to relocate? Do I need to make provisions for care? Have I shared your long-term plans with family and friends?

Retirement means different things to different people but to ensure that yours delivers over the years create your own blueprint and remember, it’s never too early to start.