Research reveals that the happiest ‘retirements’ are those with balance, structure, strong social contact and yes, a little work. You may also need expert advice from a financial planner on timing your retirement and to make the most of your money.
It is, however, important to remember that while money, (how much you have and how long it will last) plays a vital part in the timing of your retirement, your emotional readiness should hold equal weight. There are many factors to consider when deciding if you’re emotionally ready to retire, such as your relationships, support network, how you plan to keep yourself busy and what you hope to achieve from the next stage of your life.
Will you get an Age Pension? Will your money last? What does retirement mean to you? And of course, what don’t you know? YourLifeChoices can help you make better retirement decisions.
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Retirement is becoming a dirty word for 60-year-olds.
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Have you done the necessary planning before beginning your transition?
Research from the US indicates that working longer may actually be beneficial.