Retiring early can seem like great fun. Many have dreamed of winning the lottery and going on endless expeditions around the world. Having all the fun they never had during their normal everyday life. Before we proceed, let me remind you that if your life is boring now, it's no given that you will have loads of fun just because you retire. You need a plan to succeed with early retirement, and this article will help you achieve that success.
5 things you need to know before retiring early:
- You must have a plan for what you want to do
- You need to focus on friends and family also
- You need finances to be in order
- You need to talk things through with your spouse
- New interests and possibilities when retired
What To Do Once Retired
What are your plans for retiring? What will you be doing? Will you be focusing on all the things you didn't have quite the time for, when you were working?
Remember, that if you haven't got any plans, one day may end up taking the next - and ultimately you end up sleeping late every day, rather than achieving new goals for your life. Whether it be writing the book you didn't get around to writing, or taking up model trains for a hobby - all things are possible for those who prepare for retirement.
It is, of course, your prerogative to sleep some more. But you will quickly end up becoming grumpy if you haven't considered the ideas underlying your wish to retire.
Your Focus on Friends and Family
Friends and family will be people you have more time for. Your children (or even grandchildren) can see more of their granddad or grandmother - and you can recapture some of the moments you might not have talked so much about. This is a unique chance to leave a lasting impression upon a new generation, and your grandchildren will treasure those moments later in life. Sharing old memories can bring history much closer for young kids, and you owe it to yourself to pass on your life experiences to new generations.
Good Financial Stewardship
Retiring early requires some savings, and preparing properly so everything is decent and in order can also help your spouse if you should pass away at some point in the future. There might be some one-off pension fund that can reduce debts in your home so the surviving person can stay in the home. You need not pay off all loans, but you can at least reduce mortgages so it all becomes easier to pay using one pension instead of two.
Talking With Your Spouse
Talking things over with your spouse can help you decide how to proceed. Your spouse may also have things he or she wants to do - and you might even find shared ground. Now is the time to prepare for some final quality time.
New Interests and Possibilities When Retired
The world is at your feet. Whether you want to travel or do some other things, you have all the time in the world, and being well prepared can help you realize all the possibilities.
Good luck with retirement.
Source: http://www.20vn.com/home-family/retiring-early-5-things-you-need-to-know-3d1.htm
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