Steps Toward Smooth A Retirement Transition

July 24, 2019

Steps Toward Smooth A Retirement Transition

Retirement is a life event that can be accompanied by others. As you conclude your career or your business, you may also see changes in your goals, finances, social circle, and address. Preparing for the transition, both financially and intellectually, is wise, lest the moment sneak up on you.

A few months to a year beforehand, set aside an hour, a few hours, or even a day to consider the steps that may be part of the transition. With forethought and consideration, these steps may seem unremarkable when they actually occur. For practice, you could try living on approximately the amount of your envisioned retirement income for a month or two. Track your expenses and see how they compare to the forecasts. Are you spending more or less in certain areas? Last, but not least, think about ways to get involved in retirement – ways to spend your time that allow you to interact with others, whether they will be new acquaintances, family, or old friends. You are free to devote yourself to long-held dreams as well as new pursuits, and enriching your life through these avenues can certainly help you to stave off the doldrums.²