Planning Ahead: It Wasn't Raining when Noah Built the Ark
Posted on September 28, 2018 in Learning
People thought Noah was crazy when he began building this massive ship. They ridiculed him – and his family. Biblical scholars believe the ark took between 55 and 75 years to build, so Noah spent a long time planning for his rainy day. While planning ahead for retirement today doesn’t require quite the same amount of diligence and dedication, it still remains necessary.
Saving and Investing for Retirement
The younger you begin saving and investing in your retirement, the more money you will have when retirement comes along. That doesn’t mean there aren’t things you can do as you approach retirement that will help ramp up the process of creating an income for your retirement. Take advantage of IRAs, 401Ks, and other investments to maximize. Take bigger risks earlier, when you have plenty of time to recover, and make safer, more sustainable choices as retirement approaches.
Downsizing
When you’re raising your children and have a big family living at home, it makes sense to have a bigger home filled with furniture and other necessities. As your children begin creating families of their own, it’s time to consider downsizing your home, your possessions, and the amount of time, energy, and money you must invest in maintaining and updating your home. Planning early allows you to make sure you’re on any necessary waiting lists and that you have an opportunity to get the new home you want rather than settling for one that is less than perfect.
Pursuing New Interests
Are you free to travel, pursue new interests, or take classes in exotic locations if you choose to do so? Sometimes, your home can be the one thing that ties you down and prevents you from seeing the world and exploring new interests. If you have to be there to mow the lawn, shovel sidewalks, or collect the mail, then you can’t be elsewhere exploring these new things. Planning ahead allows you the financial and personal freedom required to go off and explore the world once you retire.
Consider Socialization
Finally, do you have a plan for socialization and building a sense of community once you retire? Neighborhoods aren’t like they once were. They aren’t the communities of days past when everyone got to know one another and looked out for each other. You have to find that kind of community. Ohio Living Breckenridge Village offers abundant opportunities for socialization, exploring new hobbies and interests, and keeping your financial affairs in order for an active and fulfilling life after retirement.
Why is planning ahead so important? Just as the ark wasn’t built in a day, neither is the retirement of your dreams. Start building your retirement early so you aren’t left out in the rain.