Unique But Proven Helpful Tips to Prepare You For Retirement in 2019
2018 is almost over, and just like what happens every single year, we have to say goodbye to the past 12 months and say hello to the other 12 that is coming. There are so many things that will happen next year, for those who are of age they may consider 2019 as the year they will finally say goodbye to being a full-time worker and say hello to becoming a retiree.
Some people simply cannot wait to retire since that would mean they no longer have to get up early to go to work five days a week, they don’t need to stress themselves out over a problem that needs to be dealt with, and most of all, they can do whatever they want, whenever they please. These things are possible if and only if you are fully prepared to rewrite.
Know The Signs
Some people find it difficult to determine whether they are ready to retire or not, which is why it is ideal to figure out if some signs can lead you to the answer. One of the biggest and the most obvious signs is when all of your debts are paid off from the mortgage, car loans, student loans, credit card balances, and every other debt. This is a sign that you have got nothing to worry about when it comes to paying off a debt, your retirement income and savings will be spent on anything else you want to spend it on.
Another major sign is when you have exceeded your retirement goal. This usually happens when saving up for retirement early or if you have been putting extra on it years before your retirement age. Exceeding retirement goals may also lead to retiring early since you no longer need to work so much.
Bear in mind that you must be over the age of 62 to be able to qualify for the Social Security benefits. There are also people who check on their withdrawal penalty on the retirement plan so if you choose to retire early make sure that there are no penalties that must be paid for just because you wish to get those benefits earlier than expected.
Having your healthcare covered is also one sign that is very important for you to look into. Generally, if you are over the age of 65, government healthcare will have you covered but the truth is, it is never enough especially when it comes to treatment and therapy. Those who are younger than 65 and are already retired, you are still not qualified for Medicare.
Know What Retirement Life Is Like
There are thousands of baby boomers in the United States who will retire in 2019, so if you are one of those and you don’t know how to prepare for it, the very first thing you must figure out is what your life is going to be like once you retire. Everyone has different goals in life, especially once they retire. There are some who wants to travel to every country all over the world and there are also some who wants to live in a quiet cottage beside the beach.
Knowing what kind of lifestyle you want once you retire will determine how you must prepare yourself for it. If you wish to travel the world then you must have enough money to be able to afford it. It is the kind of leisure that is too far from being cheap, so if you have millions saved up then there is no need for you to be worried.
If you think that you don’t have enough saved up to fulfill this kind of lifestyle, then maybe it is best to just live simply or you can retire later so you can save up a bit more. Just keep in mind that you must not rely on Social Security alone since it is just considered as an aid and not as something that can provide for you.
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