Most of us avoid thinking about our retirement until we’re already there and that’s often far too late. It’s important to start now – whatever age you are – to ensure your retirement is as easy as possible. Some people believe saving 5% of your wage from the get-go is enough, while others suggest saving as much as 15%. This number will vary depending on how much you earn, whether you wish to retire early and what kind of assets you have – there is no magic number. We’ve compiled a list of 5 tips for a happy and healthy retirement, so read on to learn more about what you can do to help yourself.
1) Start a Retirement Fund
Each country has a different retirement policy and some have none at all. For example, in Australia you can join a style of retirement fund called ‘superannuation’ – often you will contribute and your employer will contribute, which helps to snowball your savings. If you’re not sure where to start, we suggest taking a look at this superannuation fund for an idea of what services are available. The best policy is to start as young as possible, but it’s never too late.
2) Get Health Insurance
Even if you’ve had amazing health right up until this point, at some stage it’s likely going to change. Medical bills can be crippling and even if you live in a country that has free health care, often certain things aren’t covered. To elevate the stress, you should invest in a good value health insurance policy. This means when things start to go a little sour, you can move forward with treatment without worrying about the financial impact.
3) Modify Your Home
Small adjustments to your home can ensure that you can stay there as long as possible. It can be as simple as changing the door handles from knobs to longer handles to help shaky hands grip them more easily. Other modifications that can make a big difference include installing a stair chair, a walk-in bath or even a ramp entrance into the home. Your home should be a place that evolves as your needs do.
4) Consider Retiring Overseas
Depending on where you live, there’s a good chance you could choose to retire somewhere cheaper and you could leverage your money and assets to live a pretty comfortable life. There are a lot of countries that have open door policies to people who are retired as you wont be competing for jobs but will be bringing an influx of cash into the country. Some popular countries include Barbados, Thailand, Indonesia and even Portugal.
5) Maintain Strong Friendships
It can be a lot of work keeping in touch, especially when people’s lives get so busy. But thankfully, due to the Internet, it’s both easy and cheap to keep in touch. When people find themselves with their last breath, one of the most common themes is “I wish I’d spent more time with those I love” so make sure you make the most of those special connections with people you’ve met throughout your life.
Retirement is called the Golden Years for a reason, it’s a chance to slow down and focus on what really makes you happy. Use these tips to ensure your retirement is comfortable and relaxing.