Retirement. It’s the light at the end of the tunnel. It’s what you work your entire life towards. All those early mornings, late nights, draining commutes and tiring weekends are leading up to the moment when you leave the office for the last time and don’t ever look back.

Frustratingly, the retirement age is rising, which means more people than ever before will be working well into their 60s and beyond. As exasperating as that might be, this extended age is, in fact, giving us more time to set our affairs in order and ensure that we have a strong retirement plan in place for when the time comes, as well as arrangements for everything after. Looking at life insurance options (be they on Life Cover Quotes or elsewhere) may be a wise step to take before retiring.

Here, though, we’ll take a look at what else to consider before you hit retirement.

Sort out those personal pensions

Throughout your working life, you may have been employed by more than one company with its own pension scheme. Worryingly, it’s incredibly easy to lose track of all these different pension plans as you move through life and as your career evolves. Placing all your pensions into one easy to manage pot like this one from Wealthify – click the link to find out more – means that you can watch your investments grow and potentially enjoy the lucrative, comfortable retirement that you deserve. The sooner you act, the more profitable your investments and more financially sound your retirement will be.

Focus on paying off your debts

It makes sense that the fewer debts you have as you head into retirement, the more of your money you’ll get to enjoy! Now is the time to focus on paying off your debts – start this new period of your life debt-free and financially confident. If you’re worried about your debts, reach out to a debt charity for further advice.

Consider your budget

No matter how much money you enter retirement with, the last thing you need is to run out of it! Despite hitting retirement age, it’s still prudent to work out and live from a budget, that way you remain in control of your money and you can spend it on the things you want to!

Consider other possible changes

If you want to free up more money for your retirement, then you may want to consider downsizing your current property and moving somewhere smaller. This will make it easier to manage daily chores. You may also want to swap your car for something more eco-friendly and cheaper to run. You should consider your changing health needs too – joints and teeth might need replacing as you age. The Cost of Veneers has actually gone down massively in recent years, but they’ve never looked so good. Keeping on top of your health will improve your quality of life well into your golden years.

Decide how you want to spend your retirement

When you retire, the world really is your oyster. You’ll have so much free time, you may find it difficult to fill. This is why heading into retirement with a basic plan of how you want to spend it is ideal. Holidays and travel, new hobbies and interests, sports, socializing, time with family and friends, maybe even a part-time job or volunteering for a cause that’s close to your heart. If you do want to enjoy all these amenities, you might want to start saving early and set a fixed Retirement Planning Budget at the earliest. Some people even move abroad to warm countries where their living costs are lower and the weather is better, such as Spain, Mexico, or even Portugal. If you have similar retirement plans, and would like to know about the visa formalities and how to get settled there, you can look for information online or fall back on blogs posts from Where Can I Live.

Final thoughts…

Retirement is something we all look forward to! So, the sooner you start planning, the more time you’ll have to enjoy it.