Advice for Retirees

It seems that no matter who you talk to, someone is always ready to offer you advice. If you’re wise, you’ll take that advice, as long as it’s positive. When you get closer and closer to retirement, we figured it may be nice to hear some advice from retirees to prepare you for what’s to come.

Think about where you want to live.

If you’re planning on relocating, take some trips while you’re still working so you can move right in once you retire. If you want to downsize, it may be easier to buy a new home while you’re still working as well.

Think about how retirement will affect your partner.

If one of you retires first, he or she will have more time to take care of household chores that need to be done, potentially taking some responsibility off the other. This can make for a happier partnership if one of you feels less pressure from everyday tasks.

Be ready for the unexpected.

Make sure you’re financially sound enough to be able to handle any curve balls life could throw your way. A natural disaster, a death in the family, a stock market plummet — this are all things you should anticipate and save for, so you don’t get too affected by any big surprises.

Get involved while you’re still working.

Even though you’re working, and potentially still parenting, find time during your week to join activities or clubs that interest you. This way, once you retire, you can use your surplus of free time to really dive into those activities and pursue your passions with things you already know you like doing.

Learn to say “no.”

A lot of people think that once someone retires, they will have all this free time to donate to committees and boards, but that may not be what you want to do. Don’t feel pressured to volunteer for things that don’t interest you. You’ve spent your whole life, so far, working to get free time to do things you enjoy — so only do what actually makes you happy.

Stay physically and mentally active.

No one wants to be the grumpy old person who sits on his or her couch all day. Take up a language or join a swimming club to keep active. By keeping your mind and body sharp, you’ll enjoy retirement more and stay healthier as you age.

At American Investment Planners LLC, we make it a priority to help you prepare for the best financial future possible. From managing your cash to retirement planning, we’re here to help with anything you may need. To schedule an appointment with one of our advisors, please call (516) 932-5130 or email info@americaninvestmentplanners.com.