When planning for retirement, the first thing that probably comes to mind is making sure your finances are in order. While this is obviously one of the most important, there are many things to take into consideration when thinking about retirement, and having a Certified Financial Planner quarterbacking the planning process for you can help ensure that you can retire happy.
Retirement that is well planned is a retirement well spent. A little knowledge and information goes a long way in helping to make your retirement plans and dreams come true.
Here are 3 important things to think about for your retirement:
Where Will You Live?
Have you thought about moving to a warmer climate? If so, where will that warmer climate be? Are you thinking of moving to a different city or part of town? Moving into a cottage away from the city?
If you’re thinking of moving, it’s important to explore new areas before you are faced with the actual date of your retirement.
- Take short weekend road trips as you approach your retirement so you can explore new areas close to or just a short distance away from where you are living now.
- During your vacations abroad, explore real estate tours while you’re there so you can get an idea of the communities outside of your vacation resort.
- Get advice and opinions from friends and family who have relocated.
Will You Downsize or Keep Your Family Home?
The thought of giving up your family home is likely a scary thought. If this is the case, make sure you have the necessary help through family, friends, and neighbors, to help you maintain your home.
If you decide to stay in your family home, keep in mind:
a) Repairs are often unexpected when it comes to maintaining an older home. The older you home gets, the more repairs it will need. Have the contact information for a plumber and electrician handy at all times.
b) Cleaning a larger home may be a difficult and cumbersome task.
c) Seasonal maintenance such as shoveling snow and mowing the lawn are tiring tasks, and could also lead to injury if you slip on ice when shoveling snow.
How Close Do You Want to Be To Your Family?
For some, the thought of being away from grandchildren and children is unbearable.
For others, being away from family can be a rewarding experience as they feel that they have raised their children and it’s now time to enjoy life.
Keep in mind that once you make a move to a new home, moving back can be stressful.
For more tips to help you prepare for retirement, contact the team at Pension Solutions Canada! We’re here to help! We specialize in helping individuals prepare for retirement. Call us at 1-888-554-6661.