4 Steps to an Enjoyable Retirement

Retirement can be scary, especially if you are left with just a few years on the job. But it doesn’t have to be if you plan everything in advance. Planning for retirement can be the difference between going for the retirement you have always wanted and having money problems in your old age. Below, we will look at four steps to a happy retirement.

1. Set Your Retirement Goals

The first step in setting your goals is thinking about what you would like your retirement to look like. Once you have this dream in mind, you will be in a better position to know how much money to save for when you finally retire.

Once you know how much money you will need for a comfortable retirement, calculate how much money you must save or what investment options are available to you, so that you can find it easier to save the money.

2. Save a Percentage of Your Income

Financial advisors say it is a good idea to save a percentage of your gross salary in a good growth stock mutual fund. A good option to invest in is a Roth IRA. These investment options grow your money in a tax-free wrapper and there will be no tax to pay when you take your money out.

Try to be consistent when saving in these options but do not forget your other financial obligations, like paying for a home. Once your kids are off to college and you have a fully paid for home, you will find it easier to increase the amount you save.

3. Invest for the Long Term

To build wealth, you need patience. Investing and saving for retirement are very long processes and you will need to be very patient. Try to invest in the long term to ensure that you have money when you retire. If you are young, you can – try this and go for higher-risk investment options as you can correct your mistakes and these mistakes can be learning opportunities. If you are older, try to be a lot more conservative and go for low-risk investment options, as you might not have time to right any wrongs.

4. Hire a Financial Manager

People think that hiring a financial manager is a waste of money. While there is a lot of investing and savings advice online, get a financial advisor involved. Bear in mind that divorce in later life can have a significant impact on your retirement planning.

A good advisor will advise you on everything from what investments to put your money into the saving options that have the best and steadiest growth.

In one study, it was shown that those who work with financial managers receive 1-3% more per year from their portfolios than those who do not.

Bonus Tip: Do Your Research

While working with a financial advisor is a good idea, ensure that you always do your research before getting into any positions.


Retiring can be dreadful but if you plan it right, there is no reason why you should not get your dream retirement.