Retirement On YOUR Terms

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Retirement On YOUR Terms

Retirement comes with adjustments. Adjustments to how you spend your time, how you prioritize, and how you view your money. Money in retirement is fixed to the amount you worked your whole life for. But the question of how to manage it? That depends entirely on the lifestyle you desire.

 

What Do You Want Your Retirement To Look Like?

 

You’ve looked forward to your retirement for years, but the most important question is,  what lifestyle do you imagine yourself having? Are you going to travel? Spoil the grandkids? Buy your dream car? Spend weekends golfing? It is completely up to you.

 

You can’t begin to build a financial plan for your retirement until you have decided what your lifestyle will be. When you’ve fully imagined it, and are truly happy with how you want to live your golden years, then you can begin to make the necessary adjustments to your financial plan. Your plan should be the tools to allow your retirement to be as you want without having to worry about outliving your money.

 

Gaining the Lifestyle You Want

 

What does your lifestyle require?

 

Are you enjoying your current lifestyle, and if so, do you want to continue it in retirement? Then you have to consider if you have the assets to maintain how you are living. If you are fortunate enough to have accumulated a portfolio to do this, then it is simply a matter of making sure you have properly allocated your assets to guarantee yourself the necessary income.

 

If you do not, then you have two options. You may have to consider a lifestyle reduction. Downsize on the house. Reduce spending. Create a more conscious budget. Or if you still want to maintain the lifestyle you have, you will have to entertain the possibility of working a few more years and delaying your retirement until you have the funds to live the lifestyle you want.

 

Building financial plans really revolves around lifestyle choices. Once you have decided how you want to live your life, then you take an honest look at your assets and assess if you are going to maintain your lifestyle from your working years, reduce it, or continue to work.

 

Too many make the mistake of building a plan, and then adjusting their lifestyles to the plan. This type of thinking may limit the retirement you want. When considering your finances, they should be allocated in a way to allow you to live your retirement as you dreamed of living it.

 

You worked your whole life to build the portfolio you have. Don’t let a financial plan dictate your golden years. Instead, decide your lifestyle and build a financial plan to allow you to live it. Because, after all, retirement is meant to be enjoyed.

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