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Retirement: Things to consider before you retire.BY: Eve | Category: Others | Post Date: 2009-12-06
There are some people who think of retirement because they think they deserve to have one. After working for some thirty years or more with a company which you think you have given so much of your time, skills and loyalty, then it would be time for you to consider this idea. In most companies, the retirement age would be about the age range of 60 to 67 years of age. At this time you should have gathered more experiences, skills and knowledge about life and things that have to do with it. If you are thinking of retirement earlier than the mentioned age range, then you would have to consider a lot of things before retiring. Suffice to say, regardless whatever age you intend to retire; you still have to consider some things before finally making that major decision in your life. If you have been thinking of retirement, then you should have thought of it as early as two years back. The idea of retiring needs planning and you should be able to come up with a good and detailed plan on how to go about it. It would be practical to start your plan with a list of your expenses. Include everything you have to pay and spend for like house bills, food and grocery bills, clothing, gas bills, medicine bills, entertainment and expenses that appear now and then. Make a record of these expenses and consider adding at least 20% more to the total expenses for inflation costs. You must be able to make a budget and must be able to stick to it for a long time. Make sure to save your money. If you've been considering retirement, you should have started to save up a good part of your salary to start your savings. Perhaps it would be nice if you save your bonuses and salary increases as part of your savings; you can have them in time deposits or put your money in some stocks or investment where you can earn profits. Seek professional advice from a financial counselor whom you can trust about your finances. With your financial counselor, try to work up a plan of paying up your mortgages and loans in the most practical way and at the least possible time. It would be good if you can pay everything before your retirement day. This way you have no worries about paying for loans and other money problems. Ask your financial counselor about possible problems like taxes, social security benefits, insurance and pension plans. You need to know where your finances stand when you are about to retire. If you're really seriously planning about your retirement, then consider taking a few hours off your work schedule. Talk to your boss about your plan and hopefully, he would give you some few hours off. If possible, try to look for an alternative job to do which you can have as a back-up plan after you have retired from your previous company. Doing part-time work would still keep you earn some money on the side, keeping you busy without tiring yourself too much. Remember that you should have to account for many expenses upon your retirement. Think that your savings should last you for at least 20 years or so; maybe even throughout your lifetime. So again, seek professional help if you want to make your plan work. You may need to get a health care plan and life insurance for you and your family. It is best to be prepared for emergencies pertaining to health matters so you may have to consult a financial adviser for this. Overall, retirement is a phase of life that you need to enjoy by yourself or even with your family. That means you have the remaining years of your life happy, contented and worry-free from money problems. Article Source: http://www.writearticles.org About Author / Additional Info: Additional Articles: * Foods Like Kefir Keep You Healthy * Managing Arthritis by self control and self discipline than by medicine * God of 22nd century * Changing Your Lifestyle To Manage Your Heart Problems * Banishing Bridezilla: Getting married without alienating everyone Does this article violate or infringe on your copyright ? It is a violation of our terms for authors to submit content which they did not write and claim it as their own. If this article infringes on your copyrights, then use our Contact us form with the detailed proof of infringement along with the offending article's title, URL and writer name. If you do not hear back from us then contact us again in another 10 days. Thank you. Comments on this article: (0 comments so far) * Additional comments are now closed for this article *
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