After serving at your workplace for a long time, retirement is bound to come. Last month, two people retired from my workplace while one was relieved off his duties. You could see the anxiety written all over their faces. They were being sent into the world of the unknown; a world where they had to find their footing as well as get new hustles that they had never been used to.
Anxiety due to retirement stems from the fact that you are not sure about what you will do next once you leave your current workplace. Your family, if you have a young one and are the sole breadwinner in the family is highly likely to suffer from the financial constraints that come without your getting a paycheck at the end of the month.
But I feel that after working for so long in one place, this type of stress can be minimized. Employees can prepare on how to mitigate this type of stress so that when they finalize retire from their workplaces, they do not have to struggle that much. In this article, I explore some of the ways to do this.
Create a plan and put it in writing
If you know that you are about to retire in the next 20 years, start planning now. Put it in writing and never think that it is too early to do so. Within no time, the 20 years will vamoose into space and the next thing, your employer will be giving you a severance package as a send off commensuration for the number of years you have worked in their organization. So, stop seeing it as 20 long years but a short duration of time.
Think of other income generating activities you could do as you wait
As you wait to retire, have a side hustle that gives you those much needed coins and notes so that even when you retire or are sacked from your workplace, your family will not have to be sent packing from your apartment.
Take a look at your retirement savings options
One of the best savings options that I have come to love is the gold IRA. Fortunately for these two guys who were retiring from our workplace, I had told them to protect themselves with a gold IRA account and they listened to me. So the future does not look too scary for them because they listened to this. The good thing about a gold IRA account is that you are assured of your value of savings. Unlike money which is prone to inflation, solid gems such as gold, silver and palladium are not likely to be hit by inflation at all.
Think of protecting your health and that of your loved ones
One of the biggest things that retired people battle with is their health. While at work, most were protected by the organization’s insurance but once you are out, you are on your own. You therefore need to invest in a good medical cover that will see you through even when you have retired, are old and senile with no source of income.