Organise Your Life for Retirement in Your 60s
It’s almost time! If you haven’t already taken the leap, you’re just a few years away from retirement. Either way, you’ve no doubt made at least some plans for your retirement savings – but just because you’re near your goal doesn’t mean you can’t do even more to make your retirement a meaningful one.
How Much is Enough?
You may have enough funds saved up, so that you can live comfortably for the next 30 years – but why stop there? The old adage of better safe than sorry certainly applies to milestone as important as your retirement. Life is full of unexpected circumstances and that uncertainty will only increase, as you get older.
Living Year to Year
You’ve probably laid out the broad strokes of your retirement fund. Now, you can plan it in more detail. Work out how much you will need every year and withdraw accordingly. If possible, draw out a little less than what you need. Better to play it safe than overdrawing. After all, if you take too much too soon, you run the risk of not having enough in your later years.
Work After Retirement
Many people don’t see retirement as the end of their work life. Understandably, you don’t want to find yourself stuck at home with nothing to do, but make sure to look for a job that offers some level of flexibility. That offers you the freedom of focusing on your hobbies and your travels.
Investing in Your Future
You could also consider investing some of your retirement funds. Nothing too drastic, of course. This should be a potential additional source of income, not a full-on gamble. Talk to an investment planner, but keep things easy-going.
Review Your Plan
Your plans, while concrete, shouldn’t be set in stone. Always be flexible enough that you have some leeway if life throws you something unexpected. Every few months, relook at what you had originally laid out and decide whether it needs to be adjusted accordingly.
You may have a good many more years to go, but it’s certainly still worth thinking about your children and grandchildren’s future now. Talk to a lawyer and start figuring out what your legacy for your family will be.
Above all else, just remember that this is your time now! You’re either retired or going to retire, so all these plans should be in service of you, your spouse and your wishes.