Retirement planning and financial planners are closely linked in most people’s minds. As you approach retirement is very important that you have your finances structured appropriately for your needs. If you choose a good Financial Planner they will manage that very well. They have the knowledge and expertise to suggest investment strategies as well as safe havens for your money in turbulent times. They provide an essential service for those of us starting to plan towards our retirement years.
Problem is, most of them presume that you know what you want to do with those retirement years. Faced with the question of “What are your plans?” few of us are going to admit that we don’t actually have any definite plans yet so we fall back on the default settings – the things we always thought we might do. Most people have not given much time or thought to retirement planning.
The trouble with that default position is that you have changed over the years, as have your interests and your lifestyle needs. The beautiful holiday area you always loved to visit may have seemed an ideal retirement location some years ago, but does it still hold the same charms? The area where family and friends lived may have been where you desired to live, but people move, relationships change and the area may no longer attract you in the same way. Similarly your interests and activities will have evolved over the years, and the attraction of having good medical and shopping facilities close to home become more important as you get older.
Retirement planning for your lifestyle
Your ideal retirement lifestyle needs to be carefully designed. If you are in a relationship, you and your partner both have a particular set of needs, wants, dreams, interests, passions, and it would be most unusual if you both needed exactly the same lifestyle to live out your dreams. To ensure that you both achieve the best lifestyle for you some planning is required, planning that requires structure and communication. To settle for anything less robs you of years of fulfilment. If you are on your own there is a whole other set of considerations, depending on whether you desire your living arrangements to provide ready-made companionship.
Making the wrong retirement lifestyle decisions can be expensive and very stressful. You want to get the lifestyle planning right first before you make any financial decisions, so that your planning informs all the other decisions that you make.
Before you see your financial planner
Before you go to see a Financial Planner for retirement planning, it is wise to have given lots of thought … and discussion if that is how you make your best decisions…. about what you want and need in your retirement lifestyle and what would make it a “dream retirement lifestyle” for you. If you don’t have the vision of this lifestyle it will be almost impossible to make it happen!
BoomersNextStep.com helps you with your retirement lifestyle planning. Through our blog posts we encourage people of the baby boomer generation to plan a fulfilling retirement lifestyle. We also encourage our readers to use their skills and experience to bring in extra income if that is something that interests them through business training and career strategies .