Thinking About Retirement

Thinking about Retirement

[Name of the Writer]

[Name of the Institution]

Thinking about Retirement

Everyone should made their mind for retirement. I have decided to get retired between the ages of 65 to 70. Till this age, it is important to be the part of the economy not only for the nation's progress but also for the good health. Retirement means to leave the work routine that has been followed for so many years. It may result in physical or mental sickness, therefore after 65, it would be the perfect age for retirement. It also helps to get financially strong. In addition, if you like a job it is not just a job. It makes you productive with a healthy mind. Therefore, my will power at the age of retirement will be the key factor for the decision whether I should like to spend more time at work or I am unable to manage it now.

It is important to estimate the income getting during retirement if it is more than the cost of living it will be better to take retirement. If it is less than the cost of living than more years need to be spent on job. Pre-planning is necessary before retirement. I will decide about I will spend my time after retirement. How much money will be required to fulfill my needs as well as healthcare cost. Evaluation of income sources and investment strategy is included in pre-planning ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"ZTAecWt7","properties":{"formattedCitation":"(Fuscaldo, n.d.)","plainCitation":"(Fuscaldo, n.d.)","noteIndex":0},"citationItems":[{"id":530,"uris":["http://zotero.org/users/local/mlRB1JqV/items/449FGGKN"],"uri":["http://zotero.org/users/local/mlRB1JqV/items/449FGGKN"],"itemData":{"id":530,"type":"webpage","title":"10 Steps to Get Ready for Retirement - Financial Planning","container-title":"AARP","abstract":"Follow these 10 fun and easy steps so you'll be able to afford the retirement of your dreams.","URL":"http://www.aarp.org/work/social-security/info-05-2011/10-steps-to-retire-every-day.html","language":"english","author":[{"family":"Fuscaldo","given":"Donna"}],"accessed":{"date-parts":[["2019",6,7]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Fuscaldo, n.d.). Psychologically preparation is required before retirement including, interest and hobbies in spare time, and realistic consideration about life after retirement. The social circle will change, office colleagues and friends may not able to meet so often. Therefore, my family time and changing social circle will need to be considered in pre reparation of retirement.

Financial condition, loan, and investment will help in deciding how life should be spent that is whether I am able to spend the life of leisure, volunteer activity or new carrier should be beneficial. However, the new carrier sounds more productive. The amount I will get during retirement,.

and the future retirement income will help to calculate the monthly expenses I should make to avoid any financial crisis and the past investment along with retirement amount will be used to create a new setup or personal business. It can be a general store or jewelry shop ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"8a2HByHw","properties":{"formattedCitation":"({\\i{}Top 10 Ways to Prepare for Retirement}, n.d.)","plainCitation":"(Top 10 Ways to Prepare for Retirement, n.d.)","noteIndex":0},"citationItems":[{"id":531,"uris":["http://zotero.org/users/local/mlRB1JqV/items/R2G7FVRR"],"uri":["http://zotero.org/users/local/mlRB1JqV/items/R2G7FVRR"],"itemData":{"id":531,"type":"article-journal","title":"Top 10 Ways to Prepare for Retirement","page":"6","source":"Zotero","language":"en"}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Top 10 Ways to Prepare for Retirement, n.d.).

I will like to live with my family after retirement. During the job, various occasions come when you are not available for the family due to workload and commitment to the job. However, after retirement, it will be the golden time to spend with the family. I am looking forward to the happy and interactive grandfather with my offspring's families. It will be wrong to disengage with relative not for the relationship but also for the psychological health. Time spending with offspring's family will make me more active both physically and psychologically while disengagement will make my retirement difficult for me. Therefore, there will be no chance that I will avoid family gathering and not spending quality time with them.

During studies, we know that its result will help us to take a good job and while doing the job we all know one day we have to get retired. Therefore, retirement is not negative for me although it is positive in some context like I will get more time for my family. Overall impression of retirement for me is neutral. To take retirement negative create difficulties to adjust in the new situation and schedule. To look forward to the change is helpful to adjust to the new circumstances rapidly.

References

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Fuscaldo, D. (n.d.). 10 Steps to Get Ready for Retirement - Financial Planning. Retrieved June 7, 2019, from AARP website: http://www.aarp.org/work/social-security/info-05-2011/10-steps-to-retire-every-day.html

Top 10 Ways to Prepare for Retirement. (n.d.). 6.