Seniors tend to agree with the statement that “the days are long, but the years are short” when they were nearing retirement.
Retirement is one of the most life-changing events that a person endures. You spend your entire lives dedicated to working, caring for your family, and building a name for yourself. When you finally reach that point when you have the option to take a step back and slow down a bit, it can affect people in various ways. Some people love the new, well-deserved slow pace that they worked so hard for their whole lives. Others miss the hustle and bustle of their everyday working lives, so they channel this energy into new projects or caring for their grandchildren. Either way, these folks have the opportunity to choose how they want to spend their retirement.
We have compiled a few concepts of how one could live retirement on their own terms:
1. Sell your insurance policy to get cash now
Retirement is a time in your life where you should be able to do what you want to do. You finally have the time to go on that cruise with your spouse that you’ve been putting off for years, or to go see the Eiffel Tower so you can mark it off your “bucket list.” You deserve to enjoy this time in your life the way that you had always dreamed of, and by doing so, you’ll likely need some extra money. Selling your life insurance policy can get you a lump-sum of cash that you can spend any way you want. Want to send your grandchildren to college? Are you finally ready to splurge on that beach vacation home? A life settlement can provide you the money you need to be able to live out your dream retirement.
Abacus Life has helped seniors for over 17 years get the largest possible cash payout, so they can spend it at their discretion. Contact Abacus today so we can help you make your retirement dreams a reality.
2. Commit your retirement plan to writing
Any successful plan requires a well-thought out drafting process. Putting your thoughts and plans into writing will help you stick to them. A major undertaking like retirement planning is no exception. Sorting out both your financial and non-financial goals will help you map out your years and give yourself goals to achieve over time. Defining and executing short-term and long-term goals will also help give you a sense of accomplishment that you might miss from your working days. Planning out on paper how you want to allocate your money will help with budgeting, so there is more room for splurging on your friends and family.
3. Work with a team of experienced professionals
Retirement planning isn’t a task you can do by yourself overnight. It is a series of moving parts that can be complicated with a lot of components involved. One mistake can be extremely costly, so avoiding these accidental mishaps by using a professional can not only save your wallet, but save you from the stress that comes along with it. Working directly with CPAs, investment advisers, life settlement account executives, and estate attorneys will save you many headaches over the course of your retirement. It is better to know that your money is in good hands and is best being utilized, than living with constant anxiety or confusion. Working with a team of professionals will enhance accountability and the likelihood of retiring on your terms.
Retiring on your own terms is a lifelong endeavor of working up towards your “golden years.” Enjoy them how you want to. Use our list and retire on your own terms.