5 Things to do Before You Retire to Live the Life You Want

What you decide to do before you retire will have a significant impact on the rest of your life

The things to do before you retire mainly deal with the financial issues when you surf around on the Internet. Everything from monitoring your personal saving to health care insurance can be found when clicking on the correct link.

As these financial and other “boring topics are fully covered by many different experts, this article will deal with the “fun” part. What you need to do before you retire to live a joyful life can be summarized in 5 simple but essential steps.

In my article, “When is it Too Late to Start an Online Business?” published a few weeks ago, you can find some useful advice that fits perfectly in with seniors ready for retirement. Combine the tips in that article with what you will learn in this one, and you will be well prepared for what to do before you retire.

The truth is that very few really are doing all this as a useful preparation to live the life you deserve as retired.

Three years ago, I did the first in-depth analysis of the retirement topic. It caused a lot of curiosity among my readers. It is a topic that almost no one pays sufficient attention to until retirement is around the corner.

As a continuation of all said so far, here is some advice on what to think about before retirement. It’s based on my own experience, both what I did and what I didn’t.

Most people think about the financial situation when it’s time to mentalize for retirement. Of course, it’s an important part. However, money isn’t everything in life, and believe me, some issues could be even more crucial for a happy retirement.

Stay at Home and Cultivate Your Interests is the First Thing to do Before You Retire

#1. Stay at home for more extended periods

Let’s start with one of the weirdest and probably most forgotten topics. In my case, and I think that many people can identify with me, I had a long-lasting career on a top executive level in a multinational company.

The position required a lot of work and traveling. The total number of hours spent at home with my wife and kids was below average, I would say.

The new life after leaving the corporate world gives automatically you much more time at home. Figure out before retirement how that kind of life will fit in with your family.

It sounds weird to test out how to have more time together with your family, but it’s a space that you have never had before that now has to be filled up with something.

#2. Cultivate your interests and passions

During an active career life, the time is limited to dedicate time to your favorite hobby. Maybe you didn’t practice it at all. Before retirement, try to develop your hobby into a passion and feel if it’s right for you.

There is nothing else that will damage a marriage as a spouse at home doing nothing. In my case, I could develop further my burning interest in marathon running. With more time available and more flexibility, the passion for running is now an essential part of my daily life.

Find Your Real Friends is Something to do Before You Retire and Explore New Places Together

#3. Figure out who are your real friends

While in the corporate world, you have contact with a lot of people. With some people, the frequency is so high and pleasant that you consider them not only as colleagues and business contacts but as your friends.

However, leaving the corporate world, you will get the surprise that a considerable number of those “friends” are just business contacts and nothing else.

From my own experience, the 80/20 rule applies. That means that only 20% of my pole of “friends” from the business world are real friends with whom you continue a friendship after your corporate life.

#4. Travel and explore new places

The job limits you to travel to places you have in your dreams. Either the time available or the financial resource to purchase the journey block the traveling.

As retired, you will have the time you decide to have, and only the money will limit you to make the trip you want.

Before your retirement, make a list of places you would like to visit and a plan on how to get there. Once leaving your corporate position, you will notice how traveling, meeting new people and cultures will enrich your life.

Ensure a Wealthy Life is a Must to do Before You Retire

#5. Revenue and a prosperous life

Last but not least, money, income, revenue, or whatever you would like to name it. Indeed, money isn’t all in life, but let’s be honest with ourselves, and for sure it’s an important part.

First of all, do something that most people forget or are scared to do: calculate your exact income corresponding to your monthly payout from your pension funds. Except for a tiny group of people who have monitored their financial situation their entire life, the surprise will be huge when you notice that your pension payouts will be much lower than what you imagined

There is an article that reveals the 10 biggest pension mistakes you can make. For ordinary people, calculate that your income from monthly pension payouts will be between 70% to 20% less than your last salary.

Wherever you are on this wide span, the available money to cover your costs will be less. Either you have to reduce your cost structure or search for additional income.

According to a Bloomberg report written three years ago, almost 19% of people in the U.S. 65 years or older are working at least part-time. This rate hasn’t been higher in 55 years. The figures vary from country to country, but the tendency is the same.

The group of older people is growing, and the pension funds remain the same or are getting smaller. The sad part of this new scenario is to find older people taking up low skilled jobs, only to cover their minimum income needs.

Before retirement, think about what you can develop into a revenue-producing activity that belongs to your interests and passion.

Let This Eye Opener on What to do Before You Retire Induce to a Life of Your Dreams

To further develop a hobby you love into a business will give you an income, but also you will do what you love to do. The balance between money inflow and doing what you like to do is an essential part of a happy life when reaching the age of retirement.

As a businessman and my passion for business, I came across something that caught my attention. When still in the corporate world, I started to develop this online business part-time. I could do it at my pace without any pressure, without any considerable investment, and with low risk.

The satisfaction culminated when I could decide when to retire from my corporate position instead of being withdrawn from the company. The environment in the entire business world and the labor environment are going through dramatic changes. It is happening right now in the backstream of the Coronavirus pandemic.

Even if I never viewed myself as a traditional retired person, my life as retired is something that I wish many more people could live. It’s a life where you do what you love to do when you decide to do it, where you choose to be, and all on your terms.

Some money will also flow in on autopilot to your bank account. A different lifestyle, a lifestyle that many people dream about and now even realize that it’s possible.

It couldn’t be better timing to be grateful to the online marketing wave that hit my mind a few years ago. This eye-opener allowed me to ensure an incredible life when reaching the typical age of retirement Let this day be your lucky day as well!

—

This article has been revised and corrected by using Grammarly®. Click here and get your free app for free to start using immediately.