We all want to live in the moment; hence, preparing for the future can often be a scary and overwhelming prospect. While nobody particularly enjoys contemplating thoughts of mortality, the quality of our twilight years is worth considering. Retirement should be a period of life dedicated to relaxation, enjoyment and family time. Whether or not you’re approaching retirement age, it is advisable to start thinking about your options as early as possible.
Here are some top tips for a secure and comfortable future.
Keep Active
Engaging in regular physical activity is advisable for all ages. However, staying active as you age is particularly essential for keeping your body healthy and flexible, aiding muscular strength balance so you can prevent injuries and remain independent. Generally speaking, exercise helps lower the risk of high blood pressure, stroke and some forms of cancer. Furthermore, physical activity can improve cognitive function, promoting positive mental health and a longer, happier life.
Get Your Finances In Order
As you approach retirement age, getting your finances in order will grant you peace of mind so you can enjoy your elder years without having to worry about money. You will need to consider the following factors:
Budget - Work out how much in terms of monthly income you will need upon retirement.
State pension - In the UK, state pension currently stands at £203.85 per week. You can claim a state pension when you reach state pension age.
Pension providers - Track down your pension providers to discuss your retirement income.
Get financial advice - You can get vital information and advice from government-backed agencies and independent pension advice firms.
Start New Hobbies
As important as it is to keep your body active during your elder years, it is also vital to keep your mind sharp. Studies have shown those who regularly engage in mentally stimulating activities such as puzzles, reading, board games, and skills development have better thinking skills in older age. There is even evidence to suggest that staying mentally and socially active can increase the brain's ability to cope with disease, potentially helping to delay or even prevent dementia from developing.
Establish A Routine
When it comes to being off work, it can be easy to let your daily routine slide. When you have no work commitments, allowing yourself a few extra hours in bed every morning can feel great; however, a long-term lack of routine can result in low mood, stress and anxiety. On the other hand, establishing a healthy and invigorating morning routine will give you a sense of structure and purpose, helping you focus on your family, hobbies and interests.
Write A Will
As unpleasant as it may seem, writing a will is a crucial aspect of getting older. Failure to write a valid will may result in your assets being distributed according to intestacy rules - while this is often done in the fairest manner possible, it may not align with your wishes. For instance, you may want to leave a significant donation to a close friend or a favourite charity. If you have no surviving spouse, civil partner, children or heir of any kind, probate tracking may be necessary to identify entitled beneficiaries. However, if you write a will, your assets will be distributed as you please.
Involve Yourself In The Community
Involving yourself in community projects is another excellent way of maintaining a healthy routine and staying both physically and mentally active. Community projects such as communal gardening, environmental well-being, food banks and social outreach are always desperate volunteers who can spare even one hour per week for a good cause. Involvement in community projects can provide an excellent sense of accomplishment whilst improving the quality of life for everybody in your local area.
Take Your Health Seriously
Keeping yourself fit, active and mentally stimulated in your old age is vital for maintaining good health and independence. However, other aspects of your health require more attention as you age. For instance, you may need regular blood pressure tests, particularly if you have a family history of high blood pressure. You may also require cholesterol tests, cancer screening and other medical checkups to safeguard your well-being and catch any issues before they develop into significant health complaints - many diseases and conditions can be prevented and reversed with lifestyle changes and preventive medication.
Here is some more retirement preparation advice.