The term retirement seldom enters the mind of young men and women who are aged 25 years and below. In fact, it is not even meaningful to them. This term only becomes meaningful to a person when one reaches the age of late 30s and begin to feel the ennui and boredom of life. But let’s face it squarely — all who labor everyday will definitely retire someday, and being happy in retirement should be one of their important goals of life.
Visualize Your Retirement
The transition from active life to retirement life can be made smooth if you follow the simple advice of Stephen Covey in his classic bestselling book, The Seven Habits of Highly Effective People. He said: “Everything is created twice: first, in the mind; then, in reality.” By applying this axiom in your life, you will surely find retirement a meaningful and happy period of your life. To paraphrase, what Covey said simply means that you can imagine and envision your years of retirement. Afterwards, you should act on how to achieve the kind of retirement that you have envisioned for yourself.
What he wanted to say is this: if you are a highly effective person, you would surely plan ahead your retirement, and work towards achieving your plan. Years before your retirement, you should be working tirelessly—even if everybody else is dawdling and dilly-dallying—towards the fulfillment of your retirement dream. You must also try to gain insights into how retirement can be made awesomely happy. Here are a few tips on how you can plan and realize your dream retirement:
First, you should have a good income so that you can save and pay for all the necessary benefits that you could get when you retire. You should develop a career that would net you a sizeable retirement pay and would allow you at the same time to save. One caveat however with savings is this—that you should make your savings as hard to reach as possible.
You should diversify your sources of income by investing. If you want an early retirement, you should have investments that would allow you to gain more income. Diversifying your sources of income will make you less dependent on one source of income. Buy properties that you could utilize or sell in the near future at a higher price. You can also invest in stocks or bonds and whatever you think would net you more earnings in the years to come.
There are other factors that may help you achieve your dream retirement. One is your behavior. Behavioral change at present can help you achieve the ideal retirement. If you have the habit of procrastinating, for example, you should replace it with a “do-it-now” attitude.
Three Factors That Could Determine Your Retirement
There are basically three factors that could determine the type of retirement you would have. These three factors are earnings, savings, and investments. If you have figured out how to perfectly do these three things right, you would surely be in for a happy and meaningful retirement period.