Thinking Ahead And Three Questions To Ask Yourself
Right now the only future thinking you might be doing is considering the weekend plans. They go by so fast don’t they? Where your meeting up for your weekly catch up with your friends or what restaurant you are going to eat in. Maybe you can’t think further than next weeks deadline for a project at work, or perhaps beyond wedding planning or starting a family. That is completely understandable. Living for the moment or not thinking too far ahead means you are making the most of what is right in front of you. But before long, you will find that you are getting older, getting wiser, and retirement will hit you square in the face. What next? The truth is, the sooner you start thinking about it, the better off you will be.
Often the decisions you put in place today can mean you don’t need to spend time in the future thinking about it, as things will be set up and in place ready to go. Which is why I thought I would share with you some of the things you can start to think about, plan for, and even pay towards right now. Hopefully some of these things can help you better prepare for a different phase in your life, enabling you to feel secure right now, and carry on enjoying living in the moment.
Have you thought about future investments?
It is time to start thinking about making some solid roots for yourself, and one of the biggest ways that you can do that is through investing in property. Your first home enables you to get that foot on the property ladder and then subsequently, as life changes and moves forward, you begin to move on up that ladder. Maybe buying bigger properties or investing so that you make more money in the long term. For the future, this means you have a steady nest egg ready and waiting. Sat that with a no mortgage and equity you can use by downsizing when you no longer need the big family home.
You could also invest in additional properties. A lot of people consider using property as a way to fund their retirement in the future. Buying and selling properties that have had work or been renovated. Keeping properties on a portfolio to rent out so that come the end of their working life they have a fair few properties that are worth something. These can either continue to supplement your income through rent or be sold so that cash balances can be used to life off.
What about your health as you get older?
Retirement isn’t always going to be rosy. There could be some major decisions you need to make in terms of your health at some point. Getting older often means that your health might start to deteriorate, no matter how well you have looked after yourself. Living independently might be exactly what you want, but you may also need to consider how you might do that. Having money aside in advance to help adapt a home could be the ideal solution. Enabling you to still live in the home you love. You may also need to think of the possibility of a care home or nursing home at some stage, of course, no one wants to consider this, but it might be a harsh reality. I know there can be some stories you hear about nursing homes, but this is when knowing you have the law on your side can help make you and your family feel more at ease about this prospect in the future. Websites like https://grayandwhitelaw.com/practice_areas/kentucky-nursing-home-abuse-and-neglect-lawyer.cfm can be extremely informative and reassuring.
How will you spend your time?
Now onto the fun things, how do you want to spend your later years in life? Many people see retirement as their chance to tick off places on the bucket list. Websites like https://personalexcellence.co/blog/bucket-list/ could help you with yours. That destination list you mentally store in your mind over the course of years of places you want to go and experiences you want to have. Retirement means you have the time, and hopefully the finances, to make that happen. Of course, travel isn’t for everyone, so you may want to think about other things you can do with your time. Perhaps you want to take up some hobbies you haven’t had time to enjoy while working. Maybe you want to learn something new. Doing this gets you out of the house and socialising.
I hope this has got you thinking about some of the ways you can start to think and prepare for the future.
Tia, and TipsfromTia.com is trying to keep you looking good and
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