Retirement: the concept of quitting our jobs at the ends of our careers is something millions of people have dreamed about. For many, retirement means relaxation and a chance to do something fun – or nothing at all. Everyone has different retirement goals and, as we prepare for our golden years, planning for specific goals is the key to a stable and secure retirement. Greg W. Anderson, founder of Balanced Financial, Inc., in Fort Collins, Colorado, and a known retirement planning expert, knows that our retirement goals influence our planning strategies. Here are six exciting questions to ask yourself as you plan for a future beyond your working life.
What are You Going to Do in Retirement?
What is it that people do when they reach retirement age? The answer varies. Some retirees choose retirement as the opportunity to travel the country or the globe. Others embark on their dream projects, such as restoring a classic car or building a house. Still others become active in their communities. What you do and what finances you will need for those activities is a critical part of the retirement planning process.
What Hobbies are You Going to Enjoy?
Similar to the overall retirement plan, it is a good idea to think about what types of hobbies you may enjoy in your retirement years. Do you like to garden? How about the arts? Retirement gives many of us the time to restart a favorite hobby or to pick up a new one. The real question is, what sort of funding will you need to enjoy your hobby and the supplies or equipment you will need?
Where are You Going to Retire?
Where you choose to retire has a profound influence on your financial security. Many retirees stay right where they are, while others relocate to a new location like New Mexico, Florida, or abroad. If you plan to move to a new place, you will need the money necessary to buy a home or rent a property and to cover expenses associated with your move. Make those plans part of your overall retirement planning strategy.
What Vacations are You Going to Take?
Retirement means that you will have free time on your hands. What better way to use that free time than to hit the road? Some retirees choose to explore the United States, while others check off their dream destinations one by one as they travel the world. Wherever you go and whatever you plan to do, you will need retirement savings and income to enjoy your vacation time. Plan for both savings and sources of income, according to Greg Anderson.
Will You Purchase an RV or Travel Trailer?
For many retirees, there is nothing more exciting than hitting the open road behind the wheel of an adventure vehicle. Whether that vehicle is a traditional RV, a converted van, or pulling a travel trailer, each of those options require different income planning options. Balanced Financial can help!
How Will You Pay for Retirement Expenses?
This is the most important question of all for those reaching retirement age. How will you afford your newly-retired lifestyle? Greg Anderson and his team at Balanced Financial have helped hundreds of people achieve their retirement goals – by creating reliable, steady income streams after retirement. Greg knows that his clients who are financially prepared to enjoy their retirement years, no matter what they plan to do or how they plan to get there.