Success In Retirement

Everyone talks about having a job or finding a job but there is an increasing number of people thinking about retirement and wondering how they will be able to afford it.

It may not seem relevant to a lot of people but a recent report tells us that 43% of the population is made up of adults over the age of 50. Although, worryingly, 48% say they are concerned about how they will support themselves financially during retirement.

Traditionally retirement was seen as the beginning of the end of one’s life and often filled with little other than walking, golfing and generally taking it easy.

In more recent years, it is seen as a new beginning and an opportunity to make a fresh start, experience new things and take on new challenges.

It seems most people still retire at about 60 and look forward to more time to themselves, more travel, learning new skills, getting involved in community and volunteer work and spending more time with grandchildren.

Surprisingly, 72% of people say they don’t feel they will enter old age until they are at least 70: with men likely to live until they are 92 and women until 93.

Financially, a greater number of people believe they will be worse off than their parents because of current changes in company final salary schemes and longer life expectancy.

In addition to financial issues considerations include things such as where to live, how to spend your time, whether to retire part-time or full-time and the amount of money needed to live comfortably.

The secret it seems is to work out the type of retirement you want and develop a picture of how and where you will spend your time. Once you’re clear on what you want you need to share your plans with those close to you and begin the process of planning.

When you have worked through to this point you are then ready to take on the challenge of retirement and take comfort in the knowledge you are not alone.

SO, if you are thinking about retirement and unsure about what to do remember there are plenty of others thinking similar thoughts.

What do you think? Are you enjoying retirement?  Get in touch we would love to hear your views contact Nick on 028 8224 9494 or via Twitter @nick_oec.