Retirement is a fact of life that nobody can escape or deny. And whether you have discussed it with your spouse and friends or not, it is something that’s always at the back of your mind. Steadily making its way forward as the birthdays pass you by. 

A decision as important as this cannot and should not be made in a hurry or on a whim. So when is the best time to start the thought process? The age when you are at the peak of good health and rising in your profession is the ideal time. Once you’ve celebrated your thirty fifth birthday and are with the person you want to spend the rest of your life with, it’s a perfect mindset. Conversations about the future must be had when you are in a peaceful and happy frame of mind. 

a) What should this conversation cover?

First of all, projected finances. Assets, investments, inheritances, savings are all a major factor in coming to a decision. Nobody knows your finances better than you. And at the most, your spouse. Based on this knowledge you can decide what kind of community you would like to spend your retired life in. There’s a lot to choose from and the choices will only keep increasing.

b) Would your social life suffer? 

This decision is yours to make. Social life is certainly not taboo during retirement. On the contrary, an active social life will keep your brain cells running in perfect order. Choose a community according to your taste in people. Most communities have rooms for visitors so there’s no need to worry on that account. Try to plan on how to give back to the community since this is when you will finally have the time to do it. If you have chosen to reside in your own retirement home, plan your retirement life to do just like you plan your finances. This will ensure you’ve a purpose based retirement in place. 

c) How much professional health care will you need?

Hopefully not much but it’s the best to not worry about it. And the only way not to worry about it is by having the best facilities close by in case of need. Planned retirement communities have healthcare professionals around to help at all times. This happens to be a distinct advantage in advancing years. If you’re living in your own abode or farmhouse or vacation home as a retirement home, you may want to factor in the need for health care facilities and plan your stay accordingly. 

d) Should you buy or lease? 

This depends entirely on what you like about what’s available. Some retirement communities are available on a long-term lease whereas others are available to buy just like any other apartment but with an age-clause. For those who do not have pots of money to invest in one shot, there are many retirement communities available on a monthly rental basis. If you do not wish to hassle with maintenance and other operative requirements, you can opt to rent a house in the city, move base to home town house or convert your second home into a retirement home. All you need to do is, once again, set your priorities right while choosing your place.

Acceptance of the fact that you will need to face this decision at some point is the first and the most important step towards a better future. When your plans for retirement are firm and clear, fear of the unknown tomorrow is minimal. And what could be better than that in order to enjoy your day. Retirement can be wonderful, you never have to worry about being caught at doing nothing !