None of us like to think about getting older, in fact, for many of us, we’d rather stay young.
But if you’re not thinking about old age now, by the time it comes, it will be too late to enjoy it.
Nobody is suggesting that you have to spend your entire life thinking about what life will be like in old age, but you should put there are important things that you should be thinking about now that will affect the quality of life that you have in a few decades time.
These are money and health.
If you’re not thinking about either of these things right now, then by the time you reach old age you’ll not be healthy enough to enjoy it and you’ll struggle for money.
Here’s how you can plan for your old age.
Decide Where You Want To Be In Old Age
Think about what you want out of life when you get older. Do you want to retire to some quiet and relaxing village by the sea? Or do you want to be active and surrounded by friends and family?
Anything that you envisage for yourself in later life won’t just magically appear when you hit old age. You need to start working towards that lifestyle now.
Think About How Long You Will Work For
Do you plan on taking retirement at the earliest opportunity? Or, do you want to keep active and work for as long as possible?
You may not have the luxury of having a high enough income that you can afford to retire early, but it is worth thinking about gaining the skills and experience in areas of work that you will be able to continue doing for as many years as possible.
The last thing that you would want is to be trapped in a job that you will struggle to do.
Build A Long Lasting Support Network
If you want a life where you are surrounded by people that you love, spend time with people now. Find ways to connect with as many friends and family and build up a network that will last.
Get involved in the local community either by volunteering or by joining groups.
Take the time to look after those around you. If you do things for those that you care about now, when you need them later in life, they will be there for you.
Work Towards Your Dream Home
Where you do want to live in old age? You will need to think about mobility issues and the cost of running the home that you eventually live in.
Your income will be reduced, so you will ideally want to be mortgage-free by retirement age, and if you can put cost-saving measures in place such as having solar panels installed, then this will help cut down on your household bills in later life.
Pay Into A Pension Plan
One of the most obvious ways of planning for your future is to set up a pension plan with a provider such as Accuplan.
Once set up, pay a fixed amount into it every month. Don’t think of this as money that you have right now, but keep an eye on statements from your pension provider to check that you are on target for the kind of retirement fund that will keep you comfortable.
Invest In Property
It is important to diversify your retirement investments. Putting all of your money into one place could be dangerous as if anything happens to one investment, you will have nothing to fall back on.
Investing in property will give you a secondary income from rent.
If managing a rental property seems like too much hassle and not something that you want to be doing in your retirement, use the services of a letting agent to minimize the effort you need to put in.
Look After Your Health
It’s easy to go around eating and drinking whatever you like and enjoying the fullness of life right now. But the effects of a poor diet and lack of exercise will quite often pass many of us by until we hit middle age.
Problems with your heart, lungs, and mobility in later life can very easily be avoided by taking better care of yourself now.
This means paying attention to your diet and getting plenty of exercise.
It’s much easier to prevent health problems from occurring my taking care now than having to try and fix these problems later in life when they threaten your life.