Retirement Education

Apr 20th, 2020 | By | Category: Senior Moments Blog

Lifelong Learning

For many people, learning is a lifelong experience that includes gleaning as much information as possible about retirement. There are so many facets that it is difficult to try to condense them. But we will try anyway. What we forget will just have to come in a future article!

If we approach retirement planning as a lifelong learning experience, we recognize educating ourselves about retirement begins as soon as we enter the ‘work’ field. We literally need to start thinking about what we want retirement to look like when we start our business and professional lives. Very few of us do that, however, because there are so many other issues to address. Nevertheless, if we begin then we will form ideas/preferences/desires that can be looked at over 40-50 years and modified as life changes.

Retirement–More Than Financial Planning

To be sure, the item at the top of almost everyone’s planning list is money. How do I plan to have enough money in retirement to live the lifestyle I desire? Since most of us don’t have the knowledge to perform realistic and effective financial planning, we need to ask for help. Financial planners can advise us what a savings plan needs to look like in order to meet our goals. The Internet is replete with articles about how to do this as well.

But planning for retirement is more than how much money I will need. Location is as important as financial security. Where do I want to retire? Your income will likely be ‘fixed’ and as a result, at some point in the process, you will need to plan where you want to live; moving during retirement is not an easy thing. Making a ‘probable’ choice is a good idea; you can sit on it for a while and make a final choice when you are ready. Mulling the choice over in your thoughts helps you know if it is a good one, and if you will be happy.

Equally important is what will occupy your time in retirement. Becoming a couch potato just leads to ill health and death. Staying active, physically and mentally, is a critical component of retirement. Will you take on a volunteer job? Will you work part time? What activities and exercise will become routine that will keep your body in good shape? What will you do to maintain your spiritual and emotional health? All these questions need to be pondered and eventually answered.

If you begin planning early enough, you will be able to run through a variety of possibilities before the retirement date, and have a good idea of just what that new phase of your life will look like. You will have time to make decisions and choices. And remember, you can always change your mind if a different opportunity arises that you hadn’t thought about.

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