If you’re a member of Generation X, you may be starting to think more about retirement. As you grow closer to retirement age, there are many things that you need to think about to help you achieve the retirement of your dreams. In the infographic below we share some tips from Ty J. Young that will help you to better prepare for your retirement.
The infographic below discusses 6 tips that will help you live the retirement of your dreams. For example, one tip that is extremely important to ensuring that your retirement life is happy and financially stable is to anticipate financial stresses.
What are financial stresses?
Financial stresses are those unknown future events that might occur after you retire. For example, when financially planning your retirement you might not think about what you’ll do if something unexpected happens, like getting sick. However, when you are planning for retirement this is exactly what you should do.
When you’re planning for your retirement you need to save up enough money that you can withstand these unexpected financial setbacks.
One thing you can do to withstand the unexpected is to work longer than you had originally planned. People are living longer these days.Recent health reports show that people are living longer than they did 25 years ago and with continued medical advancements, this number will continue to rise.
If you aren’t sure what you’re going to do with the free time that you’ll have once you retire, you might well consider continuing to work a little longer doing something you enjoy. It can even be a great time to try out a new career option and you can keep on saving for when you’ve decided what you want to do with your retirement.