These days, it seems as though retiring should be more stress-free, simple and painless than ever; but in some ways, it can be more stressful than it has ever been.
Did you know that 60 percent of employees are burdened by financial stress? And that among American women, only 15 percent believe they are putting away enough money for retirement, with 22 percent say they are barely setting aside money at all. Did you know that 91 percent of couples find reasons to avoid discussing finances altogether because it’s such a stressful topic?
The income gap seems to keep widening, which is becoming more problematic for those soon to retire. This is all a far cry from the way retirement has worked throughout the years. Back during colonial times, retirement wasn’t a thing anyone did. You worked until death, and life expectancy wasn’t high.
In the following pre-depression era, retirement evolved as a way to have older workers move on from factory life for efficiency purposes. Retirement continued to rise post-depression era, social security was created in 1935; and from then on, the number of people with pensions continued to rise. Soon, those over the age of 65 will be a large group, taking up 20% of the population. Studies have shown that if you don’t retire in the proper way, it can have an adverse effect on your health.
It’s easy to get into a negative mindset about retirement, but it doesn’t need to be this way. Here are some simple tips and tricks you can utilize in order to avoid excess stress during your retirement, enabling you to focus on what’s most important, the next wonderful chapter of your life.
1. Start Planning Early
Honestly, it’s never too early to begin to plan for your retirement. The earlier you begin, the more time you will have to accrue your savings, and maximize your retirement funds.
When you begin to plan earlier, planning for retirement already becomes easier and more manageable because when you’re younger, you have fewer restrictions and responsibilities; giving you more of a chance to build up a better “nest egg” for when you’re older.
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