Seven Retirement Tips for the Next Generation

Seven Retirement Tips for the Next Generation

By Greg Nunan

In the Lone Star State there are a fair share of retirees who love to enjoy the sunny weather and big blue sky. But every year there is quite a number of older workers who just don’t seem ready for retirement. Some of them might be that way because they still have a zest for life, but with others it may be a safe choice visiting one of the Dallas elder law attorneys to ensure their rights are protected. When the time comes, will they be ready for retirement? Here are some tips that might be useful for not only soon-to-be retiree, but also if you think retirement is years away.

Take Care of Your Health – This is a big one and so many don’t think about it until it is too late. As you pass into your 40s and 50s it begins to be harder to stay fit. Eating right is a chore we would rather skip. But your life will be better for a longer period of time if you start taking care of it with good choices in food, exercising regularly and making sure you get enough sleep.

Prepare for Retirement – So many consider retirement as something that will just happen. But if you take the time to take stock of your physical and emotional state, retirement can be negotiated. Do you have plenty of healthy and supportive relationships? You will need them as you age. Don’t just let it happen to you; make retirement the option you choose.

Get Rid of Debt – This is so important and yet people always think they will have more time. If you have credit card debt, get it down to zero. If you can retire with the house paid off, and no credit card debt, you will find yourself with less to worry about. Pay them off now, while you are still earning money.

Save Often and Save Early – It is never too early to start putting money aside for your retirement. There are several twenty year olds out there who have opened retirement accounts the minute they started getting a paycheck. Be that smart thrifty young person and you will find retirement is something to look forward to instead of fearing it.

Work with a Pro – Find a good financial planner and use their expertise and advice to plan for retirement. Having someone who knows the ropes can make it less stressful to plan and will give you better results.

Control That Exit Plan – If you don’t want to stop working and can work, by all means keep the job. But just because your Company gave you the pink slip doesn’t mean you have to put the brakes on working. You decide when you are ready to retire so if you still want to work, even part-time, after 65 go ahead and do it.

Travel Now – Don’t put off that trip to Mozambique until later if you really want to do it. Health issues can arise when you retire, and you may regret putting it off. Sometimes poor health can actually make you un-insurable for travel, so don’t put it off for a future bucket list, travel while you can.

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