Becoming a senior creeps up on most of us faster than we expect. The sooner you start investing and planning, the better; none of us knows what the future holds. If you have a paid off home or condo, an emergency fund, and a source of income for your old age, it is much easier to sleep at night. You will not be worrying and fretting. Plan for success. Failing to plan can spell disaster.
Keeping track of your net worth on a monthly basis shows if you are moving in the right direction, financially. Has your home gone up in value? How long do you plan to live there? Does it suit your needs and budget as an elderly person? Many of us will be old ladies or old men for decades. We want that time to be enjoyable. There are many options for seniors right now. It helps to visualize yourself in happy and healthy situations.
Keeping in touch with your soul tribe makes a huge difference, too. Any time I am invited to an event or reunion, I make every effort to go. I thank the organizers. Because of them, I have gotten to reconnect with old and dear friends. Some friends invite me to travel, and it’s fantastic!
It’s important to keep an eye on your stocks, and to know how much they have gone up or down since you purchased them. Many of us shift more money into cash or CD’s as we age. If you plan to travel, those amounts need to be calculated, as well.
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Very sound advice, Stephenie! I can't believe that it's been 5 years since I retired! The time has flown! I was debt-free, mortgage-free before I retired and I had savings and an emergency fund, so I felt I was well prepared. I'm glad I retired when I did; after 37 years of working, I felt ready to stop working and I'm glad I was able to stop.
ReplyDeleteThanks, Bless. That's excellent. You are well prepared.
DeleteDeciding to retire is always a big decision and, for me, a very difficult one. But the past 6 plus years away from the hustle and stress have been wonderful because we were so well prepared. And healthy enough to enjoy whatever adventure comes our way.
ReplyDeleteBeing healthy enough to travel and enjoy your retirement is key, Anita. Glad to hear your yours is going so well.
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