Written by Samantha Jones
Many planning to retire have a good idea of what their dream retirement will look like. However, not everyone ends up with a reality that matches their dreams. Often, this is due to poor planning. It is not uncommon for a future retiree to spend less time planning for retirement than for an extended vacation. Anybody can bring their dream retirement plan to life, you just need to have a plan and stay focused! Use this guide to get you started.
Set Your Vision
The first thing you need to do is set out your vision for the retirement you dream of. Try to plan in as much detail as you can. Do you want to live in a modest cabin by the lake? Or perhaps you’d rather live in luxury in Sicily? Sicily is a very popular choice for those looking to move abroad after retirement. Picture your dream retirement in every little detail. That takes care of step number one. But having a vision without a plan or any real idea of how to achieve it is pointless.
Come Up With A Plan To Achieve Your Vision
Now it’s time to come up with a plan to achieve your vision. Outline the things you can do to make your dreams a reality. Usually, this boils down to saving money and accumulating as much as possible. You may want to speak with a financial advisor to help you figure out what you can do to put more money away. While you are still working you are best able to make changes and sacrifices that will allow you to live the retired life you want. Cut back today to save for tomorrow. You can find equity in your home. There are plenty of options and every little bit helps. The sooner you get to work on your plan, the sooner you can make your retirement a reality.
Save A Small Amount Every Day And Forget About It
Making your dream retirement a reality will depend largely on how much money you can accumulate. The more you put away, the better the retirement you’ll be able to have. However, you need not feel overwhelmed by this news. You don’t need to put extraordinary amounts of your hard earned money away each week, or even each month to make it happen. By simply saving a small amount each day, usually what you’d save on a coffee, in 20 years you can build an impressive nest egg. This is why the sooner you start, the better. If you are able to save for a further 10 years, and even 20 years, you’ll be on your way to making your dream retirement a reality. It could be as easy as swapping to a cheaper brand or cutting back on your coffee consumption or taking a more economical vacation. Doing something small could mean a much brighter future for you.
Don’t Get Your Wants And Needs Mixed Up
Make sure that along the way you don’t confuse what you want with what you need. Stay out of debt, especially when it comes to things you do not really need like a new car or new furniture or elaborate vacations. Would you rather pay a finance payment each month for a car or have that money tucked away in your retirement fund? You’d be better off buying a cheaper car outright and putting the rest in your savings. Let your nest egg grow while you drive what you have even though it may not be the most glamorous.