Hello and welcome back to our Retire Happy Series. When looking at your retirement goals there is a lot to consider.
Yes Leigh, retirement can be a long time. Over the last 5 years the average retirement age has been around 62 and you can expect to be retired for another 20 years or so after that.
Retirement can look different for everyone, some retire full-time, while others work fewer hours or intermittently.
Research from Fidelity International in early 2023 shows the runway is often shorter than expected. The top three reasons for retiring early are your own health issues, having to care for someone else or being made redundant.
When planning your retirement you need to consider your financial security. Where will your income come from? Do you have enough super? And when can you access your super.
There is also the non-financial aspects to consider. How is your health? How will you spend your time in retirement?
We recommend you spend time each week doing purposeful activities. Whether this is volunteering or enjoying a hobby. Staying active and connecting with family and friends is important to keep your mind and body healthy.
The Fidelity International research shows that by starting your plan early you will feel less stressed in pre-retirement, more in control at retirement and experience a more rewarding time in retirement.
The BUSSQ team is here to help you throughout your journey.
One of the best ways to ensure a happy retirement is to start early and build a retirement plan starting with four questions.
What are my goals? How much do I need to meet that goal? Am I on track? And how do I bridge any gaps?
Over the next couple of videos we will talk about how to answer these questions. Join us in the next clip to help develop the first goal by seeing how much your desired lifestyle will cost.
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