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The Voice of the Black Community

Life and Religion

To know the road ahead, ask those who are coming back
What's it like to retire? The experienced know
 
Published Saturday, July 28, 2018 7:34 pm
by Joyce Palmer | For The Charlotte Post

"To know the road ahead, ask those coming back" is the famous Chinese proverb although for this article it may be more fitting to say, to know the road ahead, ask those looking back.


Everyone has different ideas of what it is like to retire. However, their ideas may be based solely on what they assume or what they have heard. The only way to know for certain is to ask people who have gone through it.


Here are several facts and myths that you should learn more about the retirement planning experience.


Boredom
A lot of people assume that boredom is a common occurrence for people without jobs. This is not an issue for those who have their days planned out.


Many retirees claim that they have very few boring days. They say that they simply have more time to invest in things that they enjoy doing. Those who are struggling with boredom are encouraged to create their day-to-day schedules and list the activities that they now have time for.


Expenses
Many people worry about the high costs of covering a retirement. They automatically assume that without having a steady income, they will run out of money quickly.


However, some retirees claim that their lives have become simpler with fewer responsibilities. They have given up the activities that they did during their workdays and now spend more idle time at home.  


Of course, retirement expenses are less of a concern when proper planning takes place.


Work
Retirement does not have to mean no work forever. There are numerous retirees who have taken on part time jobs or gigs to make a supplemental income. They do this to add to their current income or to cover costs for vacations or recreational activities. Other people continue working just to remain occupied.


For every retiree, there is a work activity that he or she can do to stay active.


Planning
Planning is a task that few people look forward to about retiring. Without a well-detailed plan, any retirement is not guaranteed to go smoothly.


An injury or accident could happen unexpectedly and cause major losses to a person's budget. People should plan their retirements carefully like they are planning their careers.


Long-term process
A retirement does not have to be figured out in a short period of time. You could learn more about planning for a retirement while you are retired.


For many retirees, the most helpful experiences are faced firsthand. Do not stop learning about the retirement process before you begin it and remain open to gaining more knowledge through your retirement years.


Health
Declining health is an obvious concern for retired seniors. Young retirees in their 30s or 40s also worry about their health because they are more idle after quitting their jobs. We should be so lucky!  


Some retirees are less active and more likely to become lazy or overweight than employed workers. Regardless of age, it's important that they keep track of their health until the last days of retirement.


Retirement is one of the most unpredictable events in life. Many people plan for years but still face challenges that surprise them. While some people may assume that retirement is boring, some retirees claim that it's the most exciting period of their lives.


It's important to plan well for the retirement planning experience and make the most from this period in your life.


As with most experiences in life, proper planning can help make your retirement more enjoyable.  We are here to take a second look at your retirement plan or create a plan that helps you achieve your goals.


Joyce Palmer is CEO of JP Financial Group LLC in Charlotte. Telephone: (704) 543-6269.

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