Ain’t What It Used To Be: Misconceptions About Retirement

retirement

Though you knew you were going to retire from the day you started your first job, now that it’s just around the corner it may feel like the idea’s only just springing up on you! So, you’re done with getting woken up by an alarm clock every morning, and you’ve got a whole new chapter to look forward to! However, it’s important not to be taken in by these common misconceptions…

Retirement is Stress-Free

Sure, a life without alarm clocks, traffic jams, and bosses who could have a whole comedy series written about them will have its perks. However, being able to shed all the stress factors of being a full-time professional doesn’t mean that retirement is going to be absolutely stress free. While a lot of them won’t be that quick to admit it, many people who are retired find that this chapter of life is just as stressful, just that the main stress factors in your life take on different forms. Instead of worrying about getting to work on time, chasing promotions and fitting in all your little errands in between other responsibilities, your money and health become the most pressing things in your life. Humans are naturally inclined to worry, so don’t think that retirement’s going to be indefinite smooth sailing!

You’ll Be Able to Retain Your Current Living Standard

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lot of retirement savers these days are trying to save enough money to carry on living the way that they’re now used to. If this includes you, then it’s important to bear in mind that things are inevitably going to cost more in the future than they do now. Aside from that, the cost of private healthcare is steadily rising, and if you develop any new conditions in your old age then it can punch a massive hole in your savings. Aside from that, many elderly people will find themselves having to move into retirement care facilities like the ones run by Anglican Care. Unless you’ve done all the forecasting, and saved an ample amount while taking inflation into account, it’s a big mistake to go in thinking that you’ll be able to maintain the same standard of living all through retirement.

You’ll Get to See the World

Okay, you’re going to have a lot more time on your hands for travelling once you retire. However, there are going to be various different factors which could prevent you from actually being able to hit the road. For example, if your health begins to wane and makes basic things a trial, then it can stop you from the free, uninhibited life you’ve dreamed of. In other cases, you may find that you’ve been a little off the mark with your financial planning, or an investment can go wrong. Furthermore, you may find yourself tied to responsibilities such as caring for your grandchildren, other elderly family members or friends, and other, more pressing responsibilities. A lot of retirees do get to go on all the trips they’d dreamed of, I’m just saying you should take them as a given!

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