Getting Ready to Retire – How to Ensure You Will Have Enough Money to Make it Happen and Live Comfortably

Written by Veselina Dzhingarova

Retirement is something that many people look forward to, work hard for, and count down the days until it becomes a reality. No longer having to work, spending your days doing whatever it is you feel like doing, and just basically enjoying your time is a goal that many people share. Of course, a happy and financially sound retirement doesn’t just happen by chance. Instead, it takes plenty of advanced planning, saving, and preparing.

So, as you grow closer to your retirement date, how can you ensure that you’ll have enough money to retire on time and live comfortably? Here we’ll take a look at some tips and advice that can help answer these questions.

Speak to a Retirement Planning Professional

One of the best pieces of advice for soon-to-be retired individuals is to make an appointment to speak to a retirement planning professional. Even if you think you are fully prepared, organized, and ready to retire from a financial standpoint, it’s still wise to touch base with a professional that can look over your savings and provide you with a detailed plan.

Berger Financial Group, a Minneapolis retirement planning group, stresses that a solid financial plan will ensure the savings you have amassed will stretch the distance. You want to be sure that you understand how much money will be available to you, and the best ways to stretch it and make it last.

Consider Downsizing

As you approach your retirement date you may also want to think about downsizing your lifestyle in general. If you own a home, now is the time to ask yourself if that much space and land is needed. It could be that downsizing is a better plan both financially and from a maintenance standpoint. If you plan on doing a lot of travel during your retirement years, owning a small condo with no exterior maintenance could make more sense.

Downsizing also means you can find something cheaper, which means more money goes into your retirement savings.

Create a Brand New Budget

It’s also wise to create a brand new retirement budget. This takes into account all your expenses and how much money you will have coming in once you are no longer working. It may be that you need to cut back on some expenses in order to make the budget more manageable. Knowing this information in advance will prevent you from over-spending.

Take a Look at Your Investment Portfolio

If you have any investments, now is the time to take a look at those too. You don’t have to stop investing just because you are retired. It may just be that you want to change things up and diversify where you are investing your money.

Setting Yourself Up for a Happy Retirement

By following these steps, you’ll be setting yourself up for a happy and comfortable retirement, allowing you to have the break you deserve.

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About LoveBeingRetired

Dave Bernard is a California born and raised author and blogger with an extensive 30 year career in Silicon Valley. He has written more than 300 blogs for US News & World On Retirement and his personal blog Retirement – Only the Beginning. He has authored three books: "Are you just existing and calling it a life?"; "I want to retire! Essential Considerations for the Retiree to Be"; and " Navigating the Retirement Jungle". Dave was also a contributing writer for the books 65 Things to do when you Retire (“Positive Aging – Old is the New Young”) as well as 65 Things to do when you Retire – TRAVEL (“Travel to Discover your Family Heritage”). He lives in sunny California with his wife, his Boston Terrier "Frank" and a passion for the San Jose Sharks.

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