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Drifting to Retirement Made Easy with These Unique Tips

Drifting to Retirement Made Easy with These Unique Tips

Retirement deserves attention and planning from an early point in your career.

The savings you do now will be for your after-work life.

You can use this phrase – “All’s well that ends well” for your golden days.

Is retirement really what it seems like?

There are various stages of retirement. So, how can we retire well and wave a nice goodbye to our several years of working?

Let’s not waste time and get straight to discuss what we need to do for proper retirement planning so that we don’t have to run around for peace and happiness when you should be relaxing and enjoying life.


What is retirement?

It is that time of our life, when we finally quit working, start to relax and cherish the fruits of hard work we have done for the most of our life.


What are the different stages of retirement?

  1. The golden days :

As you come close to retirement, you get this rush, that responsibilities are sliding down your sides. You can dedicate more time to your personal interests and be free of liabilities.

This phase is the most enjoyable part of retirement. This is where the main transition from work to leisure takes place.

So, plan how you want to make use of your retirement days. Decide where you want to travel, whom you want to visit, what unfinished dreams you have to chase.

Can’t you smell budgeting out here? I got you, don’t say AGAIN!

Well, to be practical, retirement will test your highest abilities of budgeting. You won’t be having any official income. All you can get hold of is the savings you have done till now.

Therefore, if you plan for your retirement now, only then can you actually have the fun later.


  1. The settling down:

The days of relaxation won’t last forever. You might start getting bored.

This is the stage when you start to realize that you have ample time, you are not dying soon, and you have got no work to indulge into. It is a state of complete abstinence.

It is very depressing.

Many call this the disenchantment phase. Loneliness along with frustration can become a day-to-day issue to deal with.

As you finally become aware that your savings are limited, you might start feeling financially insecure.

But, you have been a tough guy for sure, and nothing can break you now.


  1. The adjustment:

Nothing remains forever. This feeling of uselessness will start to wear out.

You may start to search for a new light-weight job, which will act as a good part-time job. You will start to build a new portfolio.

Very few retirees actually sit idle. Many are workaholics. By any means, they will find a new place to keep themselves busy.

There are many jobs you can practically do.

Say, you can take classes, tutor kids, do social works, or pursue your hobbies like painting, writing, anything you wanted to do for long.


So, how can you make a smooth financial transition to retirement?

It is recommended that you start financial planning 20 years before your actual date of retirement.

That’s the secret to a happy retirement life.

If you are already aiming for your 40s, and haven’t planned for your retirement, well, you better start doing it right now.

Don’t overlook your employer benefitted 401(k) plan. If you’ve been smart enough to pick any IRA’s, then you have already made a good decision.

One thing that makes financial life a bit tough during retirement is inflation.

Inflation is an inevitable necessary evil for our society. The money you have today will not have the same buying power 20 or 30 years from now.

So keep in mind, the saying of the old monk “Save more than you spend”.

The amount you save today will certainly have its buying power decreased by the time you retire.

It is advised to start saving at least 20% of your annual income if you are in your 30s. This percentage should likely grow as your age increases.

The preferred savings should be 50% in the last few years of your career.


More financial tips for a smooth transition to retirement:

  1. Pay attention to stocks; they can give you a good turnover if you can follow the art of speculating and investing.
  2. You can go for an Individual Retirement Annuity that is an IRA combined with a life insurance.
  3. Start clearing out your debts as fast as possible. Debts mean liabilities. First get rid of that mortgage. You can downsize if you need to. Make it a goal to own your house outright. If you plan for a reverse mortgage, make sure you are making a right decision.
  4. Plan a decent budget. Always remember, your income will be your savings when you retire. So, only a suitable budget can help you in your days of retirement.


How to make a positive mental transition to retirement

This part gets messy.

Old people always complain of insomnia, restlessness, losing interest in daily life, and not to mention the gouts and the decreasing physical health.

Where do all these come from? These all come from the idle mind.

Believe it or not, if you think too much, your mental health may decrease rapidly.

Given the age of say 70+, you may start to think you are useless.

So, along with a good financial planning, it is crucial to prepare yourself mentally for the retirement.

Remember, the only antidote for good mental health is sound sleep, healthy eating, and keeping yourself busy.

Don’t miss out opportunities of part-time jobs, a little this or that. You will be able to earn extra cash, plus have good motives to hold onto.



More tips for the positive mental portfolio:

  1. Plan to visit relatives and friends every now and then. You will have ample time to do whatever you want.
  2. Plan annual trips to beaches, plateaus, deserts, rivers, mountains, lakes, wherever you have always wanted to go.
  3. Exercise daily; go for walks and spend quality time with your partner!
  4. Remember, it is never too late to create memories. Never sit idle, always find interesting stuff to do. Never feel useless. You are a part of this world. You make it complete.
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Phil Bradford

Phil Bradford has immense knowledge on how to tackle personal finance. He loves to help people solve their financial issues. Besides analyzing and writing personal finance articles, he loves to cook and travel.

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