Where do you want to live when you’re old? Don’t you want to spend your retirement traveling on a cruise ship, visiting exotic places, and tasting wine? Unless you were born filthy rich, you need to plan for such a dream.
Securing your financial future
You can’t have secured financial condition if you are still in debt. Pay off your debt, and do not start with the new one. But mortgage requires continuous payment for every month in approximately 30 years. Surely, a mortgage should come first on the list of debts you are trying to eliminate.
You can opt for biweekly payment to finish your mortgage early. Retirement at the age of 50s is still enjoyable, given the fact that average people can still be healthy in their 50s.
When you decide to join annuity program, there are alternatives for the coverage payment. You can either receive the annuity income monthly or all at once when you claim for it. Choosing for the monthly payment prevents you from losing money instantly. But if you have a business plan to use the significant sum of your annuity, do not hesitate. But make sure you know your plan very well by consulting an expert advisor, like corecap investments. After all, running a personal business during retirement can keep your engines running and your cognition sharp.
Plan to retire abroad
Choose a country with lower living cost. That is the golden rule if you want to retire abroad. Visiting expensive place for a holiday is fine, but not to live there for years and to let out your money bleeding from your safe.
For this purpose, you need help from a tax filing or document assistance service. Learn the information from your colleagues or superiors, and gather as much knowledge as possible.
Plan to participate in charity
The best way to enjoy wealth is by sharing it. Look for a good nongovernmental organization and get updated about its project. Seek for a volunteer project that facilitates going abroad if you plan to have an adventurous retired life. If not, donating your money can do good things, not only to yourself but also to others in need.
There are many volunteer programs available for seniors. Ranging from volunteering for the military, for building affordable houses, for children and environment, and volunteer program for disaster and hunger relief.
Plan to pursue your passion
Retirement allows a person to have much free time. You can plan from now by thinking of what are the dreams that may have got skipped or abandoned because you are busy with your career. Invest in the gadgets, instruments or whatever related to your passion.
For example, if you love sculpture, invest your money in purchasing sculpting tools. Buy a house that has sculpting studio inside. Or you can research what art school that is open for you at the age of 50s.
If you have always wanted to be a musician, but now you do not have enough time to pursue that, allocate your dream in your golden years. Why not spending your old time as a traveling musician?…