Making Plans for your Golden Years

The thought of getting older and no longer working can be both exciting and daunting. Although your body may be slowing down, there are still many ways in which you can live life to the full. Continue reading for our advice regarding making plans for your golden years.

Finances

Be certain you know how much you are going to be getting and from which sources when it comes to pensions. Tracking down old ones in advance of being ready to receive them is an important step to take. If you are lucky enough to have meddled in stocks and shares, it may well be worth cashing them in now. Have a chat to an independent financial advisor who will be able to offer you sage recommendations.

Downsizing

Being a hoarder will not earn you any favors from anyone. Try to reduce the amount of belongings you have well in advance of needing to downsize your property. Perhaps you have items that you’d like to pass on to members of your family; this would be the ideal time to hand them over. Furthermore, if you have items of value or that still have plenty of life in them, try selling them on. This could provide a significant boost to your financial situation. The biggest bonus of doing this is that when it comes to packing your boxes, there will be fewer to sort. This can also save you money on your removals transport costs.

Accommodation

Consider where you would like to live once you enter your golden years. Retaining a level of independence is an important factor for many older people. Choosing a senior care center where you have supported living is a great option. You can also find accommodation within a village community, which may have a large range of opportunities to continue with existing interests, start new hobbies, and make new friends. Alternatively, why not chat to your family members and see whether they have thoughts on the matter? Many wish to keep their elders close and offer for them to move in. This may or may not work well for you. There are many factors to consider before taking such a huge step.

Wish List

All of us have aspirations of things we would like to do or achieve when we reach retirement age. From a dream holiday to the Bahamas to undertaking an undergraduate degree, there are far too many to list. If you start making arrangements now, you will know the exact steps you need to take to reach your goals. If it’s making enough money to take a trip in a hot air balloon, start a new savings account specifically for that now. If it is overcoming your fear of heights by climbing a mountain, why not start small and gradually build up. There is often a ‘now or never’ attitude to our ambitions once we reach a certain age. There is absolutely no need to let a number prevent you from doing something you have always dreamed of. Aim for the stars!