Retirement is a sense of freedom, feeling light, fearless and non-restricted. Unburdened by the daily routine to check in at work on time. Clocking office hours between meeting ludicrous work targets and hammering away mammoth of e-mails on keyboard. What happens next? They keep coming back! Work never ends, only time moves along, dates and days change. So much of life and effort goes to make a living; it’s ironic how very little time one spends to live a life they desire. Retirement is all about debunking the expectations of life and the never-ending goals. Stretching a leg, to experience the little joys often overlooked in the everyday hustle. 

Should you stick to the world written age to retire? Society has dictated a roadmap for life. Should your decision be based on that? Before you enjoy the bliss of handing in a resignation or handing over your company reins to your kin, ask yourself, are you ready to retire? Check off the list, and if you score a yes for all five – It’s time to hang the boots. A score any less, you should keep going, grind a little more before you bid farewell to the work life. 

1. No Muddy Mess Of Debts 

Debts are to retirement what fats are to fitness. To ensure a healthy body, you need to balance your nutritional intake and workout, to build muscle and become healthy. This applies to finances as well. You need to balance your investments and workout your debts to ensure a financially fit life. Before you commit to a retired lifestyle, ensure you’re out of any puddle of messy debts. This means having enough money and steady cash flow to cover your bills and a reserve for unexpected expenses. You have an emergency fund in place. A certainty that you are not carrying any financial repayment baggage and at the same time you do not need to rely on a credit card or loan to live your retired life.

2. Time Rich, Money Poor

When you choose to retire, that is at 40 or 60 years of age. You are no longer tied to work. You have lots of free time to your benefit. This also means, you are no longer earning a paycheck from your salary or money from your business. Have you accounted for bills that will still show up? Being time rich and money poor is a recipe for disaster. You will not be able to do what you want because you will end up worrying all the time about the piling bills and unmet expenses.

3.  Smart Money Moves 

Financial Plan For Short-Term Goals

With your new lifestyle – socials, travelling, medical bills, hiring extra help, spending weekends at vacation home – how do you plan to fund these day-to-day and occasional, small and big expenses? Have you invested to ensure a stable, inflation proof monthly income flow? Retirement from work does not mean you retire from paying taxes on your income from different assets and interest earning. Do you have a tax plan accounting your needs? Before you retire, detailing and having a financial plan for your short term needs and goals is the key to living financially protected and secured retirement years.

Financial Plan For Long-Term Goals

What do you want your golden years to be like? Are you equipped to live all these years without having to worry about sinking a hole in your retirement fund? Have you diversified your investment folio to account your long-term goals? The Pandemic came in unannounced and it shuddered everyone out of comfort zone and bubble they were living in. Even those who were under the impression of having a financially fit life, had to question and realign their choices. If you want your finances to last longer, you need to work with your trusted planner on your yearly fund withdrawal % and asset allocation before you retire. 

4.  Ambition is Immeasurable 

Just because you are retiring does not mean you should give up on your ambitions. On the contrary, retirement is the perfect time to wing your passions. All you need to ensure is that they are well planned financially. This is an ideal choice to stay active and not be bogged down by the unpleasant feeling of having nothing to do. 

5.  Well Planned Financial Gram 

If you spend hours contouring the perfect instagram feed, twitter or Facebook wall, why not spend equal time and bring on board an expert to devise your retirement plan? To review your goals, fund flow, inflation proofing your investments and ensuring your retirement life is filled with sweet moments, filtered financial moves and a subscription to financially free, dream life you covet.