Retirement is a lot of fun and relaxation, which is why many working people now want to retire early. They find retirement is a time to celebrate life. Some want to travel, and others want to volunteer, do consulting, and have many more plans. Sometimes you may have loved your job, but other times, not much. You may have worked so hard whole life by faithfully showing up for the work daily, doing everything needed to be done. Once done with it, you are further looking forward to life without worrying about work and responsibilities.
But many people do not fully understand how hard retirement is until they do so without any planning. This may feel like a nightmare. It can come to their life as a shock with many overwhelming feelings of regret, guilt, and simply being bored to go out of their minds. But, now, they have plenty of time and nothing much to do. So, experts suggest you plan for a happy retirement at the early stages of your life itself.
Robert Nico Martinelli On A Happy Retirement
Boring and shocking retirement life can be avoided if you prepare well for retirement by taking care of some important steps. It requires a little bit of effort on your part, and if done correctly, you will save a lot of misery and may not end up in regret or guilty feeling each tie when you see your colleagues and friends enjoy their life. Let us review some steps for this as suggested by Robert Nico Martinelli, a successful businessperson, and consultant.
Making Your Savings
To make retirement life enjoyable and easy, the first step is to save money and build a retirement fund. You have to put aside some money for a happy and burden-free retirement during all those long years of working. Then, you can take advantage of the employer matching programs for retirement, which may exist with your IRAs or retirement plans. Even though you do not contribute maximum among, you can at least try to match your contribution at a decent level.
For example, if you put about 5% of your salary into a retirement fund, you may be earning some free money. For an employee with an income of about $50,000 a year, the difference it can make will be about $1,500 per year. That may not be a good figure in standalone, but calculating it over ten or fifteen years with the compound interest may attract overtime. It will be a big sum by the time you require.
Robert Nico Martinelli also suggests that while building a retirement fund, you should not stop the contributions while nearing retirement. On the other hand, if you are not close to retirement and do not see it on the horizon, try to start an investment account dedicated to retirement funds. This need not be complicated, but just set aside a small amount of money to be invested in mutual funds of stocks. Even as little as $100 per month may grow into a fair sum over time if you consistently do it.