Struggling To Plan For Your Retirement? Try Adopting These Ten Retirement-Planning Tips

Are You Struggling To Plan For Your Retirement? Then, Try Adopting These Ten Awesome and Helpful Retirement-Planning Tips.

Struggling To Plan For Your Retirement? Try Adopting These Ten Retirement-Planning Tips

When you’re planning your retirement, there are no better people to speak to than those going through their retirement currently.

Therefore, we asked current retirees for their ten best tips for retirement planning, which they came up with.

 1. Check Your Investments Before You Retire

The money you’ll need between five and ten years into your retirement is at most risk, so you should avoid spending beyond your means. If this money gets lost, you will find it more challenging to recover.

Therefore, search for investments that provide a predictable income. However, you must remember that with greater predictability generally comes lesser returns. Consider long term investments now and set yourself up for a comfortable retirement. Remember, regardless of whether you’re considering how to buy a buy to let property or investing in the stock market, carrying out the appropriate due diligence beforehand will determine the return on your investments. If you’ve been researching and still don’t feel like you have enough of a grasp on what it is you need to do when it comes to investments, then help is at hand. There are financial professionals offering retirement planning services up and down the country who, among other things, have knowledge of the kind of investments you should be making in order to help make sure that you will be able to enjoy your retirement to the fullest.

2. Accept Inflation is Inevitable 

Benjamin Franklin famously stated that death and taxes were the only two certainties in life. However, you can be sure that inflation and rising prices fall into the category. You should accept this inevitability and factor it into your retirement planning.

3. Involve Your Spouse In Your Plans

Being open and honest with your spouse about how much you can spend in retirement is crucial. You both need to be on the same page from the start to avoid any confusion later on. Therefore, involve them in your retirement planning from day one. Be sure to also talk to your spouse about what your end-of-life wishes are so that both of you know what to prepare for. Companies like Everdays make this conversation easier by helping you compare plans and prices so that these burdens don’t fall on your loved ones in the future.

4. Keep Healthy

Health care costs are high, so keeping as healthy as possible is as critical as being financially fit. Many retirees fail to plan for the cost of healthcare and get caught out when they crop up. This is even despite the substantial costs of healthcare being a prominent and regular subject in the media. Take for example if you’re trying to move into a retirement community like Emerald Heights, you need to also factor in what the health services at Emerald Heights offers and what you may need to pay extra for outside of the community.

5. Create a Budget and Adhere to It

Creating a retirement budget begins with you understanding how much money you have to spend. Incredible as it may seem, many people don’t take the time to calculate the amount of money they’ll have to retire on. However, if you struggle to create budgets, you can get some help from an investment professional.

6. Find an Investment Professional With a Good Track Record 

You wouldn’t think twice about going to a doctor for medical advice or a mechanic to get your vehicle checked. Similarly, you should seek advice from an investment professional and one that has a good track record. Friends or family have previously used one, so ask them if they can recommend a good investment professional.

7. Consider the Cost of Travel 

It is much cheaper and convenient to travel when you are younger. Therefore, consider making any significant excursions before you retire. When you travel during retirement, try to adopt the same spending habits as you do at home and stick to a budget.

8. Get Mortgage-Free

Paying off your mortgage is one of the most significant financial events in your life. Becoming mortgage-free before you retire will not only make you financially better off but will give you an incredible sense of security and satisfaction.

9. Extend Your Working Life

It goes without saying, if you extend your working life, you’ll put off the time when you need to draw on your retirement funds. Although continuing to work might not have been in your original plans, doing so enables you to boost your retirement funds significantly.

10. Expect to Blow Your Budget 

Even with a significant amount of financial planning, it’s likely that you’ll blow your budget. Unexpected expenses, taxes, maintenance, and other spending can rise sharply and quickly. Therefore, continue to assess your spending and adjust your budget accordingly.

There are financial professionals offering retirement planning services up and down the country who, among other things, have knowledge of the kind of investments you should be making in order to help make sure that you will be able to enjoy your retirement to the fullest. You can also take the help of your attorney in getting the Health Care Proxies. This will ensure that a proxy member is aware of your medical condition and can make the best financial and practical medical decisions for you when required.


If you have been struggling with retirement planning services, or have yet to start, now is the time to get back on track. Hopefully, these ten retirement planning tips will help you get organised and ensure you have a comfortable life when you’ve stopped working.

If you are considering your pension or your retirement, speak to a regulated financial adviser like Portafina or, view the info at Money Helper. 

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