We all want to live out our retirement free from monetary worries. But the financial aspect is only one piece of the puzzle. Would you be happy living in financial comfort if you had no one to talk to, or to have fun and travel with? Your social life and living arrangements as a retiree should be planned out, just like your financial security. You'll thank yourself later for doing it now.
Christian Nolet: Financial planner
If your social network is limited to office buddies, you may find yourself resourceless after retirement. There are fewer opportunities for building new social ties, so it becomes more difficult to rebuild your network. Like any aspect of retirement planning, an ounce of prevention is worth a pound of cure!
While your professional life is still in full swing, try to organize activities outside of work and strengthen ties with your loved ones. You can also sign up for recreational activities that are in keeping with your tastes and values, and that you may be able to continue once you retire. There are lots of options, and lots of people to meet.
In addition to your circle of friends, you may want to redefine your living arrangements. If you're dreaming about a cottage or a large estate in the country for your golden years, there are several factors to consider before taking action. Learn about the place where you'd like to live. Will that setting be appropriate for your needs? Will it let you easily see your loved ones and maintain your social life? Is the health care you'll need easily accessible? Once you've gone over these issues, you still have to plan the process and the costs involved in making it happen.
Obviously, planning these aspects takes a lot of reflection. An advisor can help you in carrying out your retirement plans. You just have to talk to one!