"I'm leaving work."

That is what a family member told me recently, when they announced their retirement. The problem is, retirement consists of much more than simply leaving your office behind, and the days of a gold watch and pension are long over. If you want to retire successfully, it is vital to plan ahead and be prepared. Especially now, with inflation on the rise and so much economic uncertainty and social unrest, wise and thoughtful preparation is key. I have often given you advice from the professionals, so today I thought I would share some tips from actual retirees themselves:

1. Find An Expert:

   As I have stressed recently, this is not the time to put your DIY skills to the test. Retirement planning is complex, to say the least, and it is worth it to make the investment in someone who can help lead you down your best personal retirement path.
   

2. Remember Your Check-in:

   Just as you see a doctor yearly, in order to ensure that your health is on track, so should you meet with your advisor regularly, at least yearly, if not quarterly. What you start out with may not be what you want to continue with as time goes on. Financial changes, moving house, health issues, can all require modifications to a retirement plan. Do not leave the plan sitting static, hoping for the best; rather, be proactive, ask yourself what changes you would or should make, and remember that it is your money, your investments, your future, so take care of them.
   

3. Do Not Delay Planning:

   Invest early and put away what you can. That said, you cannot move back in time, so if you have not started to plan, there is no time like the present. Do not look to the past and berate yourself but also, do not wait for the future. Begin your retirement planning as soon as possible.
   

4. Experiences are More Important Than Things:

   Live within your means and remember that the experiences you enjoy and learn from will bring you much more joy than material items. It sounds counter-intuitive, but travel stays with you longer than a new pair of shoes, even though the trip ends and the shoes remain in your closet. Focus on living your life to its fullest and leave the knick-knacks to collect dust (or quickly dust them off as you head out the door for your latest adventure).
   

5. If Possible, Get Rid of Your Mortgage Payment:

   This is a huge one for living a more comfortable retirement and can be done by either paying it off or getting one of the new Equity Release Mortgages that has no payment requirements. By accruing less debt and living within your means, you can spend that money on other things, such as travel or family. You can also breathe easier if an unforeseen event arises and you require extra funds. 

All of these tips and more …

All of these tips and more are aspects of retirement that we can review with you, so please give us a call and come in for a strategy session or check-up. We are here to help you devise the strongest plan possible, taking your own unique circumstances, desires, and needs into account.

Enjoy the attached article (with some amazing photos!) on Arctic exploration and more as you soak up the last rays of the sun. It looks like the clouds are returning. Just think: with an intelligent retirement plan in place, you can escape those raindrops and head for sunnier shores! If you are remaining beneath our cloudy skies, take a peek at the article on bedtime snacks that can improve your morning mood. Hint: If you have a sweet tooth, you are in luck!

Warmly,

Kimberly Wolf and Your Team at Pacific Financial Advisors