Check Out The Secrets Of An Enjoyable New Chapter As You Prepare For Retirement
Did you know that over half of Americans have zero savings for their retired years? And, the rest have saved $1000 or less. These figures are alarming and reveal how one must start saving for their retirement in advance. People that have spared their time to put money into their retired years must now! congratulate themselves. These individuals are ahead of the game. But, saving money is not the only way that you can prepare yourself for your retired years. Its about planning what you will do in your next life stage. Have a look at some of the secrets that you can prepare for your retired years so that you can enjoy the next stage of your life.
Have sufficient savings for your retirement. If you want to view here prepare for your retired years, one of the things that you need to do is to make sure that you have sufficient savings. You will not want to learn more use up all your retirement money within a few years only to be forced to go back to work. You must learn save about 80% of your pre-retirement income if you want to live comfortably during your old age. For instance if you make around $100000 every year, you need to save about $80000 every year for your post-work years. A certain percentage of the income is from social security; however, most retired people pick up a part-time or seasonal job to relieve boredom.
Promote your social security benefits. Even though you might have this saved well for your retirement, there is a likelihood that you might be partially dependent on social security for income during your old age. So, you are better off when you boost your benefits. Do not take money out of your benefits before your full retirement age as this brings about automatic deductions. Also, if you do not need the money as soon as possible, you can choose to delay your benefits past your retirement age. In which case you will receive 8% more per year up to the age of 70.
You must establish how you intend spending your days. Switching from a full-time work schedule to an open schedule can be jarring. So, it is vital to have an idea in mind on how you are going to spend your days. Getting a part-time job, taking care of and spending time with your grandchildren, joining a senior group to socialize more are among the few ways that you can use to occupy your retirement time. Regardless of how you intend to fill your days, make sure that you have a schedule in place as this will help you not to feel aimless.