Old age is not something we relish talking about, but it’s something that’s bound to happen, no matter how hard we try to turn back the hands of time. 

Barring some unfortunate accident, old age happens to each and every one and there’s little point in burying your head in the sand. Just crossing your fingers and hoping it all turns out all right in the end doesn’t work either.

With the number of 65+ years olds increasing every year, the onus is on you to make sure you’re prepared. There are many things you can do such as getting organised, writing a will, and sorting out your funeral plans. Let’s explore some of these ways to ensure your old age is more comfortable.

Get Organised

It’s not something you want to think about, but one day, someone you love will have to come in and make decisions on your behalf. You can make things easy for them by being organised.

Keep all your financial documents and plans in one place. Include a clear list of all your incomings and outgoings. 

Think about who gets what when you die and consider making funeral plans, so your loved ones don’t have to worry about what you want. 

Make a Will

If you die without making a will, the law decides how your estate is divided. Your assets might not be distributed as you’d want them to be after you’re gone. 

The only way to stay in control and ensure certain people get what you want them to get is to write a will. 

You can draw one up yourself, but you must get it exactly right or the slightest error in the detail will render it invalid.

Make a Living Will

You should also find the time to have a meaningful conversation with your family to talk about your wishes should you become incapacitated. 

Following on from this conversation, write a living will. In this document, you can express how you’d want to be treated in different situations, should there come a time when you can make your wishes known.   

Organise a Power of Attorney

One day, you might need a power of attorney, so it’s a smart thing to get this organised in advance. It’s not expensive to set this kind of thing up, but if there’s not one in place, it will be even more expensive and complicated for a loved one to handle your financial affairs. 

Set Up Your Pension

Paying into a pension is not something people relish doing, particularly with the bad press some pension companies attract. 

While you might not see the benefits immediately, making payments for more than forty years is important. 

To be able to maintain your standard of living after retirement, you need an income of at least 70% of your pre-retirement salary. 

It’s therefore important to start paying into a private pension as early as you can. If possible, keep some savings for after your retirement. 

Pay Off Your Debts

It’s very likely that your ability to repay debts will be severely limited after you retire. Therefore, it makes sense to pay off those debts before retirement. 

Write a Budget

It’s a good idea to make a retirement budget as part of your planning. Think about:

• What you’d like to be doing
• Whether you’re going to look for a new hobby
• If you’ve got a bucket list you want to work through
• What your monthly expenses are likely to be

Knowing how much you’ll need on a monthly and annual basis, will make some of your decisions easier to make. 

Keep Working

There’s nothing that says you have to stop working when you reach retirement age. For many people, it’s not the right decision anyway. 

What you need to consider is whether you can afford to stop working. In addition, there are other factors to think about before you make your decision. For example, are you mentally prepared to retire? 

Not getting up for work every day can be an enticing prospect, but for some people, it can leave them feeling depressed and even angry. 

Think about how you’re going to fill your days when you don’t go to work. 

Stay Healthy

Your finances aren’t the only thing you need to consider. You’ve also got to think about looking after yourself, losing weight, drinking in moderation, quitting smoking, and generally keeping active, both mentally and physically. 

Do all these things and you’ll live longer and be able to enjoy all your retirement planning. 

Make Friends

As you get older, it’s not uncommon for friends to drift away. Family might move away and you lose touch with work colleagues you saw on a daily basis. 

Without a wide network of friends you could find yourself feeling isolated. Keep in touch with as many people as you can and extend your range of social activities so you get the opportunity to widen your social circle. 

One final thought is that you can’t control everything about getting old. It’s something that’s going to happen so you should plan as best you can and enjoy your senior years when they come along.