Things You Must Surely Do Before Getting Retired
Everyone knows that retirement is the fact of leaving a job after completing certain age limit and to spend the rest of life with peace and joy. Well as many things one can’t handle the retirement period that much easily proper preparation is required in order to manage that part of life. History, shows that people often undergoes significant changes in their behavior with their family members and change in their personal lifestyle too.
Here in this article, one can find the list of checklist one should keep in mind in order to organize the retirement activities perfectly. And also it will help to make things much easier on that big day.
Below listed table illustrate the interesting and unknown facts of retired person all around the world.
|S.No||All you need to know about Retirement||Detailed Information|
|1||Delaying Retirement||Many people all around the world prefers to get retired well before their retirement period, but their debts and needs force them to work further along after their retirement period.|
|2||Realizing Retirements||Often people fail to realize their retirement period by not judging their social security properly.|
|3||Dating After Retirements||According to the recent survey conducted in United States, people who aged over 50 prefers to date in order to spend rest of their life happily|
|4||Retirees and TV||Often retired people all over the world prefers to watch TV to spend their leisure time. In fact, according to stats released by trustable source people from 65-75 ages spend around 4 hrs on TV and people over 75 spend more than 4 hrs on TV|
- Think before 5 Years Of Retirement
As per the experts’ advice, one should well aware of his/her retirement period and to act accordingly. It would be wise it they managed to think about their retirement activities well at least before of 5 years from the big day. This will helps them to plan lot of things about how to spend the rest of their life. In addition, it gives you the kind of target to achieve your goal to work towards. And also it will make things much easier to figure out the family or personal needs and makes you to prepare mentally.
- Make Your Own House
Lot of people prefers to move to their own house to spend their rest of life after retirement period. But the most worrying fact is many fails to plan to execute is perfectly and lacks in financial planning. In order to make things right, pre-planning of retirement is required for saving money to make new home. As per the stats only 2 to 4 percent of people moves to their own house located to their native place and below 2% of people prefers to move to new location with new homes.
- Clear All EMI’s before 1 year of Retirement
If you are well aware of your retirement period, then it is highly advisable to get clear all those pending EMI’s well before the last 24 months from the big day. Often people let themselves into trouble by taking EMI’s up to the last period. In contrast, having such financial trouble up to your big day will spoil your retirement activities. In addition, these expenses will create huge impact on planning your post retirement life.
- Discuss with agents Or insurance company about good pension plan
Its common that insurance plan would varies completely for post retirement plans, so its highly advisable to get in touch with your insurance agent on investing on proper post retirement plan in order to enjoy hassle free life. Often people sticks with travel, spending time with their hobbies and make them entertained after retirement. In addition, one can’t ignore the fact of increasing health care expenses during mid of late retirement periods. So, proper selection of insurance plan which gives regular income just like receiving pension from the employers becomes mandatory to lead a peaceful post retirement life. These days, lots of insurance companies offer wide variety of pension plans which can be utilized according to the needs.
- Buy a good health or medical plan
If you are about to retire, then you should buy a good health coverage. At the age of 65 which is after retirement living without proper health coverage would be nightmare in addition getting retiree health insurance plan would results several benefits like premium tax credit and so. In fact, many prefer to take health care coverage as part of their retirement plan in order to spend their rest of life with financial protection. These days, one can find lot of health care policy in market picking the right one is a tricky process proper analysis should be done and the beneficiary should be very clear on what they need in their healthcare coverage.
- Try to leave in planned budget
Well, many leads their post retirement life as in different lifestyle filled with fun and enjoyment. And fun and enjoyment would be fulfilled without travel. Retiree’s often prefers to visit their favorite place to enjoy their moment. As the retirement life is totally different from olden days, proper planning is necessary especially on fixing the budget for travel before getting retired from your job. Having sufficient financial backup on your retirement will boost your confidence and makes to enjoy a lot.
- Try to Fulfill Your All responsibilities (ex children marriage)
Your retirement wont gives relaxation to your responsibilities in family, you got to do want you have to do for family needs. As your will be senior members in the family, it would be your responsibilities to take proper planning like marriages of family members, house renovation, getting healthcare policy for your family members and so. To do those things properly, it’s highly advised to do proper planning well before the retirement in order to avoid any mess.
- Good and secure investments
In order to secure the post retirement life, lot of people prefers investment, it doesn’t matter whether it’s moving or non moving asset a good investment will always be beneficial at any time. Moreover, it is highly advisable to invest rather than keeping those hard earned money in hand. A proper investment will gives you extra income.