Tag Archives: retirement

Jan29

Why You Should Plan For Retirement Early

Posted on by
Standard
Why You Should Plan For Retirement Early

Despite how important retirement is, a lot of us leave planning to the last minute. You might plan to get around to it soon, but ‘soon’ can easily become ‘next year’, and then it’s too late. Most people don’t know how much cash they will need to retire securely, and many don’t have a pension at all. It’s never too early to plan no matter when your dream retirement awaits you so get started with the tips below:

When Do You Want To Retire? When Can You?

Think about your ideal retirement and look at your finances to start planning from tomorrow. This will help you to work out if there is a distance between when you want to retire and when you actually will be able to. Are you hoping for mortgage-free living in retirement or will you live in a retirement community? Do you want to enjoy your retirement with travel and restaurants? Or perhaps you are interested in moving states and have been researching the best places to live in tennessee for retirees (or wherever strikes your fancy)? Try to work out how much you expect to spend each month.

By working out these things early, if you find you can’t reach your ideal retirement with your current finances and the rate you’re saving at, you can work out how much more you will need to set aside each month in order to actually reach your retirement goal. If you don’t get prepared, you could end up with a lot less saved up than you expected. Your goal of retiring at 60 could easily get pushed back to 65, and then 70.

Delaying Could Cost You Thousands:

If you start saving for your retirement at 30, you can save less money each year than if you start saving at 50, and still end up with the same amount in your retirement fund. Every year that you put off planning for your pension means that you will have more catching up to do later on, which is when you will likely have more outgoings, thanks to a growing family or a bigger mortgage. In the future, you won’t thank your present self for a lack of planning for your retirement. One of the best things you can do as you prepare is to find ways to make your savings gain more for you. This could include investing in stocks, finding the best fixed rate isa, or creating CD accounts.

Retiring Isn’t Always A Choice:

You might think of retirement as a milestone for later in life, but sometimes the choice of when you retire is not up to you. You might have to retire earlier than you wanted to due to poor health, a change in family circumstances, or a redundancy. There are lots of reasons that you might find yourself having to stop working earlier than you had planned to. If you don’t plan for changes of circumstances like this, there can be a lot of problems. Trying to support your family or pay your mortgage on a smaller pension than you had planned for would be a big issue. Unfortunately, we can’t predict the future. However, you can plan accordingly with services provided by DVI investment management winter park (or something similar in your local area). The team of experts will be able to build an investment portfolio so that your savings can expand and provide a cushion should you need it.

Planning early is important when it comes to your retirement, so get started ASAP!

Featured Image By: Unsplash

Mar21

Work Perks: Retirement Gifts That Count

Posted on by
Standard
Work Perks: Retirement Gifts That Count

Job hunting can be a real drag, so when you find the job that you want and that will make you happy, it’s exciting news! The first thing that people look for in a new role is usually the perks. When you work for someone else for forty hours a week, you need to make sure that you have a reason to be there – other than the money for food and staying alive! If you are lucky enough to stay with your company for the duration of your working life, you will find yourself gearing up for the big finish: retirement!

retire

 Flickr Image

Retiring from your career is a big deal! You will have spent time in a job that was more than just somewhere to go every day, it was a place that you built most of your life around. Whether you know the person retiring or you ARE the person retiring, you should be preparing to give or receive a gift from your colleagues. Long service deserves a reward and if you are buying a gift for someone retiring from a long career, the thought you put into it will mean far more than the value of the gift. So, what are the perfect retirement gifts on the market today? Largely, this will depend on the person retiring, but here are a few ideas for your company to chip in on:

retire1

Nice form!

Classic Gifts: Retirement gifts often allude to the time the person has spent in the role, so a watch is often the go-to gift. These are usually etched with the years of service and a thank you message – thanking the person for their time spent on the job.

Hobby Gifts: If you tailor your choice of gift to the hobby of the retiree, you’ll be well remembered. A session of golf, inscribed golf clubs, or a luxury bottle of wine for a wine connoisseur plays to their likes and implies what they’ll be up to once they begin their period of retirement. If you want to make them laugh, getting a customized bobblehead doll dressed in golfing gear or holding a glass of wine from mbobble to go along with it can inject a little humor into a wistful situation!

If you’re going the golf route, which is a very popular retirement activity, there are so many accessories for the sport that would make great gifts. Gloves, towels, or a new bag will all go over well. However, if you want to go for ultra memorable, you could read up on https://shopindoorgolf.com/pages/best-golf-launch-monitors-2021 for the best launch monitors to improve their skills.

Of course, the retiree who plans on spending their down time golfing will need somewhere to golf at. You can only practice putting in the back yard so much! If everyone at work chipped in for Williamsburg golf packages (or your local area), it will certainly be a cherished gift. These packages often include dining options too which would be the perfect setting to reconnect with old coworkers.

Travel Gifts: Most retirees use their newly gained down time to see places that they never had a chance to visit due to their time being consumed by work. Personalized luggage tags, passport holders, or even a new set of luggage can really help them on their way and give them a daily reminder of the generosity of their colleagues. If you really want to go all out for your beloved colleague, you might want to consider adding luxury into their travels with services like BlackJet. Then, they can travel in style and comfort from their own private jet!

Experience Gifts: Memories are a powerful gift for most, but for retirees, they’re the best to have. Organize a whip-round for an experience day such as a concert or sporting event for their favorite team. Hopefully you’ll know them well enough to make the right choices!

Industry Gifts: If the person retiring was a success in something they made or sold, a gift relating to that to remind them of their achievements could be a wonderful surprise. If your company specializes in shoes, then a one of a kind pair of shoes or sneakers could be a lovely reminder of all their years with the company.

Retirement can be a sad time for the person leaving, but it’s also a time of exploration and happiness so sending someone off with a memorable gift will really make their day. You’ll feel the same when it’s your turn eventually!

Featured Image By: FreeStock Photos