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How to Survive Retirement

How to Survive Retirement PhotoRetirement can give ambivalent feelings to a lot of people. This could mean two things. One, you are now free to relax from stress after working a number of years. Two, you are faced with the fact that you are getting old. And that nothing is going to support you now financially.

According to the Center for Retirement Research in Boston College, at the retirement age of 62, only about 33% of households are ready for retirement. Only during at the retirement age of 70, when 86% of households are prepared.

This means that retirement is not what everyone is looking forward to. There may be an emotional struggle that goes hand in hand with the retirement process for a lot of people. But surviving this stage in your life is essential. Here’s how:

Acceptance

It is important for people to understand that retirement comes to their lives just like how one perceives puberty. It is a stage that you cannot control but  can definitely cope up with.

Being retired does not mean being useless in this world. Instead of looking on the negative side, embrace the fact that retirement can now give you time to do things you once wanted to do before. This time, you have the chance to relax, have a vacation and spend time with your family and friends.

Financial readiness

For you to not feel how retirement can change your life with regard to your financial situation, plan ahead of time. Prior to retiring, have your bank accounts be reviewed with your financial advisors, if you have one.

Your savings in your bank could be used to put up a business on your own as you retire. Or you can give it to your children, as soon as they are capable of handling a business on their own. Allocate money for everything so as not to lose assets in the future in case the unseen circumstances arise.

Also, apply for insurances or social security prior to retiring. There are a lot of benefits that you will get once you become a member. Cut down expenses now that you are retired. If you have to spend, put your money on things that you will gain most value for.

Socialize

Even if one gets older each year, you can make retirement fun by socializing with a lot of people. Go out and meet your friends on an occasional basis. Catch up with them on late afternoon coffees or even plan a vacation with them. This will keep you from having an emotional depression – a common feeling retired people get due to low self-worth.

Develop hobbies

It’s not too late to work on what you love to do. Because being retired means having more time for yourself, do some fun activities. If you have that hobby of cooking or baking, do it on your free time. This would keep yourself busy and active as well.

You can also turn these hobbies into a business. Why not sell your pastries to your friends and neighbors? This is a good start of making another source of living without even needing the help of your children and social security people. This will greatly increase your feeling of self-worth.

Facing retirement is not hard to do. Do not let fear control you as you go through this stage of life. As long as you accept the process and be open to new possibilities, you will less likely feel that you are really getting old.