The Post Retirement Journey
Helping to guide you every step of the way.
"And in the end, it's not the years in your life that count it's the life in your years."
As we approach retirement, we should no longer think of retirement as a single event. Just like during our working life, retirement has stages. These stages, and the decisions we make during them will be deeply personal and unique to you. Not everyone will go through all of them, however, the key to a successful retirement plan is to consider the impact of three key stages in the retirement journey.
Active retirement occurs in the early years of retirement. For many, this will be between 55 and 75. It can be challenging, as we attempt to figure out what we are doing and where we are going with our new found freedom.
You are often still active, and healthy. You may be looking forward to more holidays, spending time with loved ones, and generally enjoying life's most precious commodity, time.
However, this brings challenges, the newfound freedom usually brings with it higher costs of living.
Active Retirements Key Challenges
Controling your spending
Allowing your assets to grow
Sustaining Cash Flow
Maximizing your new found freedom
Not leaving things too late
Typically, the slow down will start during ages 75 and 85. The initial buzz experienced in the early years tends to be replaced with more routine. You settle into your new found lifestyle. You may find yourself spending more time at home and traveling less.
For many, it's a time to consider downsizing, moving closer to family and friends.
Your cash flow is just as important as ever. However, you probably find that the things you spend your money on changes.
Your attitude toward money may well shift from growth to preservation.
Passive Retirements Key Challenges
Do I downsize?
Are my investments still right for me?
What happens if I need help and support?
The final stage usually, starts from around age 85 and onwards. Here, life can change in a host of ways. You will probably find that your energy levels are lowering, you may need more help and support.
You may find yourself with more healthcare needs, you may be coping with bereavement.
The decisions we make during the first two phases of retirement can have a significant impact on your own wellbeing.
Key Challenges for Inactive Retirement
Covering the costs of care
Passing on a legacy
Dealing with Cognitive and Motor decline
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