What is your retirement dream?

What is your retirement dream?

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Dreaming of retiring? – What is your retirement dream?

 

Do you dream of learning Spanish in Spain?

Or do you wish you could sail around the world?

How about taking the grandkids to Disneyland?

 

 

Whatever your retirement dreams maybe, you control your own destiny, and only you have the power to either turn your dreams into reality or continue to dream about what it would have been like!

 

Many people heading into their retirement eagerly look forward to carrying out their life long held dreams. Some just want to be able to do simple things like gardening, take up a new hobby, adopt a dog, things they couldn’t do whilst working because of the lack of time.

 

Retirement Dreams & Financial Planning

 

Many pre-retirees in their early 50s or late 5os assume ‘things will be right’ and head towards retirement not considering the financial aspects. Most dreams are costly and they need to be carefully planned and managed.

 

Top 4 Steps to Getting your Retirement Dream Off to a Good Start

 

  1. Write down your Retirement Dreams

 

Don’t keep your dreams tucked away in your head. Write it down. Tell your spouse or partner (if you have one), and talk about it. It’s the first step to turn your retirement dreams into a reality.

 

Brainstorm all the things you would like to do as if money and time wasn’t an issue.

 

Then take your time, and cull the list down to the most important 3 – 5 ‘things’ for you.

 

  1. Price it Out

 

Take your top 3 or 5 retirement dreams, and try to price them. Attach a cost to each of the goals, and try to paint a picture of when you’d like to start living your dreams.

 

If going on a car trip in a new convertible is something you wish for, it needs to be budgeted or planned for. When do you buy the car, or do you rent one? How long do you want to be away for and when do you want to leave?

 

A lot of retirees get caught up in the excitement of retiring they fail to take into consideration their financial position, and fail to understand their affordability factors.

 

  1. Get professional financial planning advice

 

Now that you have a list containing your top 3 – 5 priorities,  you understand roughly how much money is required, and you know when you want to start attacking your list, the next thing to do is to speak with a financial planner.

 

Involving a financial planner at this stage is crucial as they can assist you to create a plan that is designed specifically to fulfil your retirement dreams. The planning you do now can make a difference to how many ‘things’ on your list can be ticked off.

 

People have very strong ideas as to what they’d like to do in retirement, and this is very inspirational but at the same time they need to apply the same rigour when it comes to savings and investment goals that’ll help fund their retirement dreams.

 

  1. Stay on course

 

The trickiest part is staying focused and not getting distracted when it comes to sticking with your financial plan. There’s no point in setting up a great plan when one doesn’t adhere to it.

 

Bear in mind, your retirement dreams  are on the line, and you definitely don’t want to miss out.

 

Collaborate and check-in with your planner, and ensure you work together to stay on track, and be accountable for your own retirement dreams.

 

Whatever your retirement dreams may be, plan and prepare as early as you can. Don’t let time slip away, and reduce your chances of ticking off your retirement dreams list.

 

Related Video: Financial & Retirement Planning

 

Financial & Retirement Planning: What is it? from Prime Financial Group on Vimeo.

 

Related Post: Preparing for Retirement

 

What might you like to do in Retirement?
Climb the Great Wall of China?
Take the grandkids to Disneyland?
Get a new Winnebago?
Get Started

 

Disclaimer:

This information has been prepared by Primestock Securities Limited ABN 67 089 676 068, AFSL 239180 (“Prime”). Prime accepts no obligation to correct or update the information or opinions in it. This information does not take into account your objectives, financial situation or needs. Before acting on this information, you should consider whether it is appropriate to your situation. It is recommended that you obtain financial, legal and taxation advice before making any financial investment decision. Prime is bound by the Australian Privacy Principles for the handling of personal information.

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