Retirement Options

Retirement Options

Do you ever think about your retirement? We do. We’ve been working so long that it becomes a puzzling question of what shall you do now for the rest of your life? Work gives us routine and something to aim for, but retirement seems to take all that away. That’s what it might seem like on the surface especially to people who haven’t done proper research into their options. Retiring for many people seems scary because it’s like a confirmation that they are heading into their twilight years. However, retiring from the workforce and living your own life without any worries of a 9 to 5 should be uplifting. Now you get to do all the things you never thought you could and really spoil yourself post retirement. 


 Using Your Senior Skills

Many people above the age of 70 still retain a lot of enthusiasm for their profession. In fact look around the world and you see many people in their 70s in the most senior positions of business and many other jobs. This is because they have a lot of experience, knowledge, and have made the right decisions to become a senior figure in their industry. If your parents are looking to retire and are one of these people or you believe that they have such great skills that they shouldn’t be wasted, speak to them about working for themselves as a consultant. Consultants are basically like freelancers, they offer their skills and expertise to anyone that is willing to listen and pay them.

You don’t have to do anything that is tiring or requires a lot of legwork. Your wisdom and words are the only thing people want. These people that would hire you would be entrepreneurs that want knowledge of special tactics, small business owners that want to grow and expand, and of course corporations that need cool and calm experienced heads in their boardroom. Many c-suites will use senior consultants as their personal advisors and these positions can easily fetch a cool six-figure salary. So if you have parents that are retiring from a busy office, tell them that if they still have passion for their industry, they might want to become a freelance consultant. 

 Low Stress High Reward

Much like the consultant work, there are teaching jobs you can take on to pass on your knowledge. If you are someone looking to retire from the workforce and just take each day as it comes and slowly relax into old age, you can still find pleasure in teaching. For example, if you are a professor in a university and you just want to stop marking coursework and exams, as well as teaching full classes but still love your work, then look towards tutoring. Why should you stop working just because your body is ageing? If your mind is fresh and loves your subject so much that you want to impart knowledge into the world, then look toward becoming a private tutor.

Firstly, it’s far less stressful as you’re only dealing with however many clients you wish. You pick the days you want to work and the hours you want to put in.  Since you’re dealing with clients on a one-on-one basis, you can take your time to explain the intricacies of your work and the things they need to understand. You can tutor at your home and have no need to meet up anywhere. It’s simple, it’s relaxed and it’s still mindfully engaging.

Retirement With Care

If you’re someone that is looking to retire but you would still like to enjoy the things in life you have now, then you have many options. Those that know they are physically unable to wander around and go see things they would like to, often find themselves in the house a lot. For that you have options for carers to come visit you at home and perform all sorts of tasks. Take a look and compare the live-in care options that you have regarding your own city. The website offers a directory to many services and then compares them to see which might be best for you. The feedback that each service receives is also taken into account so you can make the best choice from previous users. We’re not quite at this stage yet but it’s good tobe able to have such info to pass onto relatives.

Retirement is far from boring, not in this day and age. That old image of a gloomy few final years is but a stereotype that needs knocking on its head. Now you can still work, but absolutely to your own wishes and probably make more money as well. You can tutor privately, passing on knowledge to the next bright young minds. You may want to take up private consulting so you can help executives in their companies while playing a less stressful role.

 

Our Future Finances

customers, finance futures

There is little more adult-like than starting to talk about pensions, putting things in place for our children’s futures and that sort of thing. Our future finances are something that we’ve been talking about recently because at the end of the day, one day our boys will be grown, we will be looking at retiring and we do want to spend our later years doing things that we want. Like everyone else, unless we start playing the lottery and win, we are going to have to find another way to fund our future bucket list or dream shopping list.

The beauty of the modern world is that you have options these days when it comes to arranging how your future finances will look. Here are just some of the things that you can look at doing in order to make sure you have pennies available for later in life.

Savings

We are diligent when it comes to savings. The first thing we do every month is put money into our pots before paying bills or anything else. I used to find that if I waited to see what was left at the end of the month before saving, that for whatever reason, there wouldn’t be anything left. Funny old thing that.

We split our savings so that we have rainy day savings, car/maintenance savings, future “don’t touch this” savings and so on.

Property

I know many people who are planning on using their property once their mortgages are paid off to work as a kind of pension for their future. I know others who plan on using their property some way to help them fund their retirement bucket list. I think this is a great way to maximise (and fund) the fun and mischief that you can get up to later on down the road. Having bought a house and paid it off, you have much more flexibility in how you will fund your future financial needs.

Pensions

Pensions are important. You can find out how much your state pension will likely look like by registering with HMRC and looking on your online tax account. There are numerous things that may affect how much state pension you will get. It isn’t likely to be enough to live on.

We have worked hard to maximise what we will get back from our pensions and the workplace pensions can be brilliant if you have the right provider and a decent employer. I am not employed, being a freelance copywriter and of course, therefore, don’t have a workplace pension. There are other private pensions available however so thankfully we’re covered.

Lottery Win

A substantial win on the National Lottery could very well cover our future finances in terms of allowing us to do what we want to do once we’ve retired. The thing is, I’m not one for gambling on my future and at £2 a line I’d rather put my pennies into savings.

Bucket List

What are our future finances for? We have big plans, small plans and of course, we want to be able to be comfortable when we are no longer working. Just some of our plans include travel, learning new skills and perhaps some smaller local projects that we’d love to have the time and money to help with, without compromising on paying our bills.

Your Future Finances: The Conclusion

While saving towards your future finances and looking for ways to fund your later years is nowhere near as exciting as spending your pennies on fun now, there’s a good chance that down the road that you will wish that you had. Think carefully about how you will manage later on, as tomorrow comes around quicker than we’d like, and get proper advice on how to manage your pensions, savings, property matters and more.

 

All original content on these pages is fingerprinted and certified by Digiprove