Retirement isn’t a scripted experience; each person creates their own “next chapter” when they retire. You’ll now have time to pursue activities and interests you may have put off until now, and often, priorities will shift. This can be an exciting experience, yet it can also be a bit scary and uncertain, but still full of possibilities.
Find Out What You Want in Your Retirement Experience
Before focusing on the logistical aspects of planning for retirement, imagine what your days might be like in your future retirement. For example, you may want to spend your mornings slowly waking up, maybe your mornings are filled with yoga, or maybe you enjoy sipping coffee on your patio. Or perhaps you want your days to be filled with physical activity, creating art, or spending time engaging in conversations with others. Regardless of how you envision your days in your retirement, your goal should be to determine what attracts you, what seems worthwhile to build toward, and then let those elements define the rest of your planning process.
Early Savings Makes a Difference, But Remember, it is Never Too Late to Start
While it’s true that saving money early gives you more time to allow your savings to grow over time, it’s never too late to begin saving. As long as you are willing to make adjustments to your savings strategy based upon your age, the amount of time you have left to save, and other factors such as your income and expenses, you can still create a workable savings plan and increase your chances of enjoying a comfortable retirement. Small, consistent savings can add up over time and help you reach your goals. Finding ways to make space in your budget to save regularly, taking advantage of any opportunities to make “catch-up” contributions to your retirement accounts, and working with a financial advisor can also help you to develop a successful retirement savings strategy. Ultimately, regardless of your age, the key is to start from where you are and to make steady progress toward your retirement savings goals.
Plan for the Way You Will Live in Retirement—and Not Just for What You Will Spend
Planning for your financial future is certainly important, but it’s equally important to think about your lifestyle during your retirement. What environment makes you feel most at home? What type of daily routine helps you maintain your overall health and well-being? Independent senior living provides one model of a retirement lifestyle that combines a supportive environment with community and the freedom to concentrate on the things that matter most to you.
Involve Your Family in Your Retirement Planning
If you only plan for your retirement in your own mind, you run the risk of creating misunderstandings with your family members regarding your plans for the future. While your family may not need to understand every detail of your retirement plan, simply having an open and honest discussion with them about your general ideas and intentions can provide many benefits, including increased understanding, increased support, and decreased potential for unanticipated problems.
Give Yourself the Freedom to Make Changes in Your Retirement Plan
Your vision for your retirement may be significantly different from the way you envisioned it five years ago. That is perfectly fine. You are free to continue to assess your own needs, energy levels, and priorities. In fact, revisiting and adjusting your retirement plan as needed is a natural part of developing a successful retirement plan. By continuing to move forward, staying focused on savings, and continuing to connect with the things that you find meaningful, you are already successfully planning for your retirement.










