Retirement Planning 101

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Retirement Planning is a necessary tool that supports sustainability for a country’s economy.  Not only does it allow for individuals to gain financial power that will prove beneficial to their well-being at retirement, but it allows for a mental map to be created while in the planning process.  For this mental map to be created, individuals need to be at a place where they recognize the need for this type of planning and to set their own personal intentions that can be achieved within a reasonable/SMART timeframe.

Let’s talk about the road to retirement then.  Some of the questions we can ask ourselves as we decide on how to save for it are:

  • What type of income do I want to have when I get there?
  • Will my pension cover my expenses?
  • Do I need to put aside additional funds to meet my retirement goals?
  • How do I ensure that I am making sound and wise financial decisions for it?
  • Am I putting the measures in place to be ready psychologically for when I get there?

These are great questions that will help us in setting our financial goals for retirement. One area, we want to focus on is our psychological readiness for this type of planning.   Some advice that could prove beneficial to us in the long haul as we get our minds ready for our retirement adventure are:

  • Have a good support system that will help to keep you accountable for the intentions that you have set.
  • Have a system in place that will allow for scheduled exercise time.
  • Have a vision for your life and ensure that it is a visual that can be seen daily.
  • Have regular quiet time to re-coop and revitalize your mind
  • Be intentional in your efforts to practice self-care
  • Have regular family time activities

Remember, retirement planning is a journey, not a destination. As Betty Sullivan puts it, there is a whole new kind of life ahead, full of experiences just waiting to happen. Some call it “retirement.” I call it “bliss.”