Even though we boast ourselves as the world’s most advanced civilization, a crisis looms with statistics showing us that 74 percent of Americans are not ready for retirement. Sadly and ironically, an estimated 79% of American employers provide retirement plans, and yet, a mere 41% of their workers contribute to their retirement plans.
Consequently, the millennial generation is wondering what happened to our iconic social security system and other private retirement funds. If you are looking forward to retire, then you can choose to refire your life or simply “tire yourself out of life.” Here, preparation makes the big difference since this stage of your life is inevitable if you live long enough. In this post, I will discuss three smart keys that will enable you to retire and refire your life to new heights of golden sunset success.
Investment Tips – Preparing for Retirement
Get Into the Picture
First, prepare for your retirement by getting yourself into the retired picture since it is very difficult to actualize what you have not imagined. If you are truly serious about preparing for your retirement, then start visualizing yourself in a senior citizen’s life with diminished physical vigor and limited interaction with the outside world. Such a picture will enable you to make all the necessary lifestyle adjustments for that time. For example, if you are an alcoholic, it is easier to seek early help since if you age this way, it will be more difficult to manage your addiction.
Have a Balanced Financial Portfolio
Financial instruments are some of the leading ways of preparing for your retirement. If you opt to take that route, it is necessary to do so in a balanced manner. For example, you need a perfect blend of stocks, bonds, and mutual funds that will give you returns on your investment. It is also prudent to invest in the stocks of the future, such as cannabis-related stocks. If you seek to avoid the traditional Wall Street options, then cannabis is a sure deal for you, and you should get it in your retirement mix.
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Mind Your Biggest Wealth—Health
Lastly, you need to prepare for your greatest wealth—your health—because if your plan does not cover this, you won’t enjoy anything else. Don’t forget that your healthcare needs and expenses will be higher since your body will be more fragile, and not agile. Also, consider getting a supplementary cover for non-routine expenses. It is also prudent to make lifestyle adjustments that will support a weakening immune system by adopting other healthy solutions into your lifestyle. For example, adopting legalized medical cannabis into your “health mix” is one way of exploring some of the once-criminalized health benefits.
A successful retirement requires smart, early and adequate preparations since success happens when preparation meets opportunity. I hope these insights will help you to prepare better for successful retirement. Remember, you get older every day; therefore, get ready and not just older.
Pete Asmus is not one to let life idly pass him by. GreenZone 360’s CEO gets things done. From motivational speaking and meeting with new business partners to building ninja courses for his kids and advocating for public education on Alopecia. Whether it’s business or family, you’ll find Pete going to MAKE SOMETHING HAPPEN.