RETIREMENT DILEMMA and What to do to Prepare !

​A.    Baby Boomers: Should You Retire Now or Should You Stay Employed?

B.    Generation X and Millennials: It's Never Too Early. Since You Are Young Today, what are Some of the Basic Steps that You Must Take Now to Prepare for Tomorrow.

Retirement is the ultimate goal for anyone working today. It is perhaps something that you've been pondering for a while. The fact is, you have been working most of your life and it may be time to move on and provide job promotion opportunities for the younger generation. Perhaps, you dream about sleeping late and not having to deal with traffic or bad weather, especially during the rush hours.

However, even though you want to move forward with that goal, you are also concerned about making a wrong decision. That is reasonable, since making that decision can be somewhat frightening and intimidating as it is dependent or subject to a myriad of deliberations that can trigger plenty of mix feelings.

You have been employed for three decades or more. During that timeframe, you have developed a routine that will need some time for adjustment. Are you ready emotionally to handle these adjustments? What will you do with that much free time? Will you feel isolated? Is your nest egg strong enough to support your current life style during retirement?

On the other hand, perhaps there are reasons that may be pressing you to retire. Maybe
your parent’s or spouse health is in need of someone to care for them 24-7; or maybe your own health is pushing you to make that decision sooner rather than later. When these factors are the reason, then age or length of time in the workforce will mean nothing, since retirement will move to your #1 priority.
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Regardless of what motivates your retirement thoughts, there are basic steps that have to be considered before making the final decision.  For instance;

Finances: Did you develop your nest egg according to the life style that you would like to enjoy? In other words, did you start putting money away and investing wisely years earlier? 

Health: Are you in good health now; physically and mentally. Do you exercise and eat well?
(If not, what type of health insurance will you be depending on? Hopefully not just Medicare.)
 
Family and Friend: Do you have a network of friends to share time with? How about family relationships? Isolation is worse than death. Furthermore, it’s been said that sharing time with others reduces the chances of dementia.
 
Community: Have you done volunteer time in the community before? Are you willing to do it now?

Retirement Bucket List: I personally believe in serious planning for everything in life and one important step that anyone considering retirement should do BEFORE RETIREMENT is to prepare a “Retirement Bucket List”.

This document will keep you current, mentally sharp, happy, and with a sense of belonging and fulfillment. No plan means confusion and lack of activity that will make your days long and boring. Here are some ideas to include in your “Retirement Bucket List”:

1.     Learn a new language or a new skill.
2.     Read more often and visit your local library, you won’t regret it.
3.     Begin an exercise routine, could be walking, running, joining a gym or other type of workouts.
4.     Travel. Where do you want to go? Travel as much as you can afford, even by car.
5.     Volunteer at your local church or nonprofit, it will make you happier to know that you are making a positive contribution.
6.     Entertain family and friends, often. Remember, it will help keep dementia far away.
7.     Keep your Calendar of Activities up-to-date and stick to it.
Well, you get the drift. These activities will keep your brain functioning, your life structured, and will keep you happy. The last thing you want to do is nothing!