10 Ways to Prepare for Retirement
Retirement planning is an undesirable yet unavoidable reality of life. Efficient retirement planning will ensure you that you can spend the rest of your life independently and in peace.
1. Get a roof over your head
The first and foremost thing to do is to get a shelter to spend the rest of your life. A lot of people spend their lives juggling between places or waiting for that inheritance that never comes and finally they are left without a place they can call home. Besides, it is all the more essential if you are a single woman so that you can continue living life on your own terms without depending on anyone else.
2. Make an estimate of your post-retirement needs
Calculate roughly how much you would need to maintain your present standard of living. But also make sure to include other contingency factors like sickness etc. which will be accompanying ageing.
3. Don’t make risky investments
Putting too much money in the share market is not that great an idea considering the risks accompanying it. Look for lower risk investments even if that means compromising on the level of returns.
4. Insure yourself
It is of paramount importance to have a life and health insurance for both you and your husband so that one of you can sustain even without the other, since life is unpredictable and you never know what’s in store for you.
5. Pay off all your debts
You want to spend a carefree life after retirement and the first step towards that is to do away with all your liabilities. You don’t want to spend half of your retirement savings paying off your creditors.
