Thursday, August 10, 2017

Get Ready for Retirement!?

Get Ready for Retirement!?

The title of this blog is a call to action but also a question.  Baby Boomers are entering their retirement years in droves and need to make changes to prepare for the change from work to more play, but also think about making a change to a more accommodating home.  So how do you get ready to retire?  Here are three areas of consideration:

  1. It appears that people who develop interests outside of work, and have a desire to continue those interests, enjoy their retirement more than those who don’t.  They will also be more likely to actually take the plunge into the non-working world.  If our hobbies and activities are enjoyable, healthy, fulfilling, stimulating and rewarding, we are on the right track.  Everyone wants something different out of retirement but we all need to determine how best to spend the rest of our lives whether it be working a part time job, volunteering, babysitting grandchildren, taking care of our parents, traveling, learning a new skill and/or pursuing a new interest.  Our time will hopefully be spent in a perfect mix of family, friends and fun.  We shouldn’t expect to just start from scratch the first day of retirement.
  2. Right-sizing is a task best taken on early and often so that we become nimbler in order to move when ready.  If I had a dime for every time someone has said that they need to “get rid of a lot of stuff before moving” I might have retired early myself.  Removing clutter from your home not only makes you readier to move, it also makes your home more saleable (and easier to stage).  Clean out your closets (attic, basement, garage shed, office, etc.), throw out stuff you have not used in years, donate anything you can, and get your offspring to come take the stuff they have stored for free in your home!  You might find the children don’t want any of their stuff (or your stuff either!).
  3. Think ahead and be proactive about a move to a more accommodating home.  What should it look and feel like?  Test out different styles of homes by renting different places while you travel or vacation.  Vacation Rentals by Owner and AirBNB’s are great opportunities to sample how it would be to live in other types of homes.  Are you looking to up or downsize?  Do you want single family or attached home?  Will one floor be your best option or can you still deal with stairs?  Would an individual home or one in a retirement community better suit your new lifestyle?  The earlier you start giving serious thought to what and where you want to live, the better prepared you will be to make a move.
Knowing you are ready to make a move has everything to do with how you feel about your current home.  If you are feeling that it is no longer working for you, you are also likely thinking about what you do want in your next home.  This is an important step in considering why you are thinking of making a move in the first place.  Moving can be physically and mentally exhausting but the right motivation to move will get you through it.

By preparing for your retirement years well ahead of actually retiring, you will better know when you are really ready to make the move.  And like saving for retirement, it’s never too late to start!  Please feel free to use our Need Help Deciding questions to help.

Kris Jensen III
Get in on the Good Life!®