While taking the time to carefully consider our careers is something that we all take very seriously, what happens to us once we have retired is something that often gets overlooked or simply paid lip service to.
However, many of us are now living longer and in better health. This considered, it makes a lot of sense to give our retirement a little more thought and what better time do so than while we are still in the midst of our careers?
Choosing jobs that we love to do and that give us an opportunity to join a workplace pension scheme is a great place to start, but are not always enough – what follows may help you decide what other considerations need to be addressed as you assess how career choices can help you plan for life after retirement.
What You Love the Most
The choices we make regarding our career paths can offer great insights into how we may want to spend our retirement. Continuing to take an interest in the things that have engaged us throughout our working lives is a great way to keep our minds and bodies active and healthy.
For example, someone who has worked as an English teacher may find that setting up and running a book club or reading group is an extremely satisfying thing to pursue.
But, whatever your aspirations are, they won’t just happen and so thinking about them and planning them in advance can prove to be rewarding and will help you to facilitate them.
Putting a Little Aside
Putting a little money aside to help with your retirement plans or for if something unexpected should happen will make all the difference. To make the most of what you put aside, seeking the advice of professionals can prove invaluable. Tilney are experts in financial planning and could help you plant the seeds for a more comfortable retirement whilst you are still working.
Later on in life, you may need some level of care. Paying for care can be one of the biggest financial challenges we will all face, but putting money aside now will mean you will have a better chance of being able to pay for your care fees without financial strain later in life. Then later on in life, having the capital to do what you want or to do, or to cover the costs of something unexpected gives you peace of mind and the luxury of being able to look forward to the future with confidence.
Who You Love the Most
Having both a financial plan and a plan of action doesn’t just help you, but can inspire and reassure those you love the most. What could be better than a son or daughter knowing that when they retire, dad is going to set up a small cutting flowers business – just for fun. Or, that when mum retires she plans to write books about time travel?
Plus, having planned financially, if you or someone close to you needs some extra care and attention, then arranging for that extra care is not going be too much of a strain.
Your career choices and retirement plan may be best treated as one big holistic vision – one where making things easy for yourself and loved ones in the future is key, but is pursued without compromising the here and now.