You’ve worked hard and earned your retirement. You’ve looked forward to retirement practically since you started working! But transitioning into retirement can be difficult for some, especially when it comes to right-sizing and finding the right active adult real estate for you. The Equifax Finance blog experts share some tips for moving into retirement in the new article, “
4 Steps to Planning Your Transition to Retirement.”
Step One – Assess your current lifestyle; identify your current priorities by looking at where you are spending your time and money now. The article recommends making a list of how you spend your money. If your list includes hobbies, do you want to continue those hobbies? Spend more time doing them or less? Use your list to prioritize how you would like to spend your time. Many people say that they would like to spend more time with their grandchildren when they retire, but don’t make it a priority in retirement and end up not spending as much time with them as they thought they would.
Step Two – Set some goals for what you would like to accomplish in retirement. You may wish to go on a cruise or see parts of the world; you may wish to learn something new. Creating and goal and working toward that goal will help you feel fulfilled during retirement. Be realistic and dream. You may be able to do things you’ve always wanted.
Step Three – Make a plan. Decide how to reach your goals. Come up with a plan for saving money for that goal, researching the steps you’ll need to complete the goal and come up with a timeline for reaching your goals.
Step Four – Re-evaluate your goals and plan. You may find that you enjoy doing something you never expected; you may tire of your initial plans, your health or the health of a family member may change, etc., and it may force you to make a change to your initial plan.
Read the full article for a more thorough explanation of these tips. When you’re done, you can find lots more retirement advice on the Equifax Finance blog, as well as advice on insurance, credit, taxes, real estate,
identity protection and more.
