Can I retire yet<\/b><\/span><\/a>?\u201d is today.\u00a0<\/span><\/p>\nStart planning for your retirement!<\/span><\/p>\nMeet Your Retired Self<\/b><\/span><\/p>\nTry to imagine yourself as \u201cretired.\u201d What will be your concerns?\u00a0<\/span><\/p>\nSome of your questions might be:<\/span><\/p>\n\n- Can I live comfortably on my retirement income?\u00a0<\/span><\/li>\n
- How will I spend my free time?<\/span><\/li>\n
- Are there any hobbies I want to pursue?<\/span><\/li>\n
- Are my children ready?<\/span><\/li>\n
- Can I still live independently?<\/span><\/li>\n<\/ul>\n
Now, go back to the present.\u00a0 <\/span>What can you do to address these concerns today?\u00a0 <\/span>These will answer your question, \u201cCan I retire yet\u201d?<\/span><\/p>\nCan I live comfortably on my retirement income?<\/b><\/span><\/p>\nReview your current budget.\u00a0 <\/span>What are your monthly expenses?\u00a0 <\/span>Will you be having the same amount when retired?\u00a0 <\/span>Try removing any unnecessary costs and create a new \u201cretirement budget.\u201d<\/span><\/p>\nHow about your current income?\u00a0 <\/span>What would replace your regular salary when retired?\u00a0 <\/span>Is it enough to sustain your retirement budget?\u00a0 \u00a0<\/span><\/span><\/p>\nPrepare by reviewing passive income opportunities that you can start now.\u00a0<\/span><\/p>\n\n- Start publishing that book now.<\/span><\/li>\n
- Convert these properties into apartments to get monthly rental income. <\/span><\/li>\n
- Explore future opportunities as a consultant in your field.\u00a0 <\/span>Build a network now.<\/span><\/li>\n
- Start training to get teaching credits.\u00a0<\/span><\/li>\n
- Try a side gig related to your business idea today.<\/span><\/li>\n<\/ul>\n
What will I do with my free time?<\/b><\/span><\/p>\nCurrently, you follow a schedule for everything. \u00a0 <\/span>However, during retirement, you will be responsible for planning your own time.\u00a0 \u00a0<\/span><\/span><\/p>\nWhat will your future schedule be?<\/span><\/p>\n\n- Start disposing of unnecessary things.\u00a0 <\/span>Organize whatever is left.\u00a0<\/span><\/li>\n
- Start reading blogs on retirees who have already done this.<\/span><\/li>\n
- Seek older people and find out how they make productive use of their time.<\/span><\/li>\n<\/ul>\n
Are there any hobbies I want to pursue?<\/b><\/span><\/p>\nFind out if a hobby can be converted to a source of income.\u00a0 <\/span>Start building your skills and researching the market.<\/span><\/p>\n\n- If you love reading books, you can be a book reviewer or even start a bookstore.<\/span><\/li>\n
- You can self-publish your book. <\/span><\/li>\n
- Create a blog and earn from ads.<\/span><\/li>\n
- Crafts can be sold online.\u00a0<\/span><\/li>\n
- Cater or sell your baked goods.\u00a0<\/span><\/li>\n<\/ul>\n
Are my spouse and children ready?<\/b><\/span><\/p>\nPrepare your family to be independent, both financially and emotionally.\u00a0<\/span><\/p>\nIf you have been too busy at work, reconnect with your spouse and children.\u00a0 <\/span>Discuss any \u201cunspoken\u201d issues and forgive each other. <\/span><\/p>\nYou can look forward to enjoying precious time with your family. <\/span><\/p>\nCan I still live independently?<\/b><\/span><\/p>\nThe status of your health will determine if you can still live independently.<\/span><\/p>\nHow will your health be in later years?\u00a0 <\/span>One clue is to look at medical histories \u2013 your own and your parents\u2019.\u00a0 <\/span>Most diseases are inherited while some develop because of our lifestyle choices.<\/span><\/p>\nStart taking regular laboratory tests.\u00a0 <\/span>Do your best to reverse the onset of diseases.\u00a0 <\/span>Eat nutritious meals, exercise regularly, meditate, and pray.<\/span><\/p>\nKeep your mind healthy<\/b><\/a><\/span> by exercising your brain starting today.\u00a0 <\/span>Take courses, read, and discuss exciting topics.\u00a0 <\/span>Do puzzles and memory-building exercises.\u00a0<\/span><\/p>\nBuild your spiritual faith.\u00a0 <\/span>Start getting involved in church activities.\u00a0 <\/span>Read the scriptures and faith-building books.\u00a0<\/span><\/p>\nThe key to enjoying your future retirement is to start planning today.\u00a0<\/span><\/p>\nAs Patrick Foley said, \u201cRetirement is a blank sheet of paper.\u00a0 <\/span>It is a chance to redesign your life into something new and different.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"According to a Gallup report, Americans are planning to retire by the age of 66. If you are in your 40s, that may seem like a long way to go.\u00a0 However, we all know that time runs fast.\u00a0 Before you know it, you are in your 50s already.\u00a0 The best time to ask yourself, \u201cCan … <\/p>\n
Continue reading “Preparing for Retirement”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.unitedfinances.com\/blog\/wp-json\/wp\/v2\/posts\/640"}],"collection":[{"href":"https:\/\/www.unitedfinances.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.unitedfinances.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.unitedfinances.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.unitedfinances.com\/blog\/wp-json\/wp\/v2\/comments?post=640"}],"version-history":[{"count":1,"href":"https:\/\/www.unitedfinances.com\/blog\/wp-json\/wp\/v2\/posts\/640\/revisions"}],"predecessor-version":[{"id":641,"href":"https:\/\/www.unitedfinances.com\/blog\/wp-json\/wp\/v2\/posts\/640\/revisions\/641"}],"wp:attachment":[{"href":"https:\/\/www.unitedfinances.com\/blog\/wp-json\/wp\/v2\/media?parent=640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.unitedfinances.com\/blog\/wp-json\/wp\/v2\/categories?post=640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.unitedfinances.com\/blog\/wp-json\/wp\/v2\/tags?post=640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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