Retirement may sound like the best time of your life. You don’t have to go to work every day, can spend time doing the things you love, spend some valuable time with family and just enjoy your days lying back. But the reality is not as much of a cakewalk as it seems. No doubt, retirement is a step towards a new phase of life, but without proper planning, it could be quite challenging to sustain.
Every time we talk of retirement planning the first thing that comes to our minds is financial planning. Yes, you will not have a salary or a regular flow of income once you retire. But that is something you must have been planning and saving for all your life. There are other things, though, that are equally important and often overlooked. For example, independent living is one such factor. You wouldn’t want to be a burden on anyone as you grow older. But living alone in an apartment, without a community to support you will also be difficult after a certain age.
That is where the holistic approach to retirement planning plays an important role. Retirement planning is more than just planning your finances.
What is a holistic approach to retirement planning?
A holistic approach to retirement planning is one in which you have everything covered. You know your priorities post-retirement and have made all necessary arrangements to see you through your golden years without having to depend on anyone. Finances are a major part of this plan, but so are your lifestyle, community, accommodation, healthcare facilities, and everything else you will need.
In a holistic approach, you take all of this into consideration.
How to adopt a holistic approach to retirement planning?
The first thing you need to do in a holistic plan is to set your priorities. You need to list down all the things that are going to be important to lead a comfortable life post-retirement. Here are a few tips.
Define retirement security in your own terms
Everyone has a different outlook. For someone, financial security may be the highest priority, for someone else making sure healthcare is available may be a priority, while yet another person may need to buy a home first.
Your unique needs and circumstances will define what retirement security means to you. Once you have done that, you can now plan towards this goal with a better vision.
Start saving
No matter what your goals are, you will need money to fulfill them. So, you need to start saving early. The moment you’ve decided what your retirement goals are, create a savings account and start investing in it. So, by the time you retire, you’ll have saved up enough to fulfill that need without having to dig into your life savings.
Decide on the lifestyle you want
One of the biggest challenges for most people, post-retirement, is to maintain the lifestyle they have. You need to decide beforehand what kind of a lifestyle you expect to follow after your retirement. If you don’t want to curtail any of the things you’re enjoying while in a job, you will have to plan your finances accordingly. Get help from a financial advisor, who would be able to guide you better in this regard.
Decide where you want to live
Another very important thing to consider is your community. Particularly for people living alone or with a spouse, in an apartment or a standalone home, there are several drawbacks as they grow older. You will probably want to have everything nearby after retirement. Do you have all the basic amenities nearby? Do you have a hospital in your locality? Do you have the company of contemporary and like-minded people? All of this plays a major role in your well-being post-retirement.
You may consider moving to a 55+ community that is designed exclusively for retired homeowners. These are lavish retirement homes with all the amenities available nearby. You will also be able to build a circle of other retired friends and a wholesome community. If you have the means to buy a new home, this is a great way to lead an independent and carefree life after your retirement.
Develop a financial strategy
With everything clearly laid out, you can create a financial strategy and decide how to allocate your funds. You may have a pension account or an employer-sponsored retirement plan. You also have your savings. Have thorough knowledge of what your receivables are and plan your finances in a way that you can sustain the post-retirement life you choose.
55+ communities in Douglassville
If you’re looking for 55 communities in Douglassville, we have just the right place for you. Douglass Village is a splendid community of active 55+ retired homeowners. It has all the amenities you could need and offers low-maintenance living at a very affordable price. This Douglassville 55 community has some lavish retirement homes, and a clubhouse with hobby rooms, a fitness center, and a heated pool. It also gives easy access to nearby shopping centers and medical services. You will have the company of other retired homeowners and can spend your time in the community bonding with them over activities that you enjoy. What could be a better retirement plan than this?
Get in touch with us today to know more about Douglassville 55 community.
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