3 Ways to Celebrate Retirement

You made it to retirement and if ever there were cause for celebration, this is it. You deserve to go big and mark the occasion in a way that’s worthy of the moment. Though we’re not exactly the right type of planner for helping you design a phenomenal party, we are qualified to help you design a really good retirement. So, without further ado, here are our three favorite tips for celebrating your incredible milestone. 

1. Pay Yourself

A lot of retirees worry about taking Social Security too soon. But in reality, many wait too long. Yes, your checks will be bigger if you wait until 65 or 70, but it’s important to weigh what you might be giving up in quality of life in the interim. Electing social security sooner could be the extra cushion that enables fun things like extra dinners, toys, or trips; you know, the things you were looking forward to in retirement.

There’s no one age that’s right for everyone, but chances are the right age for you is sooner than you think. By working with a qualified professional to ensure you have the best approach to Social Security, you can find your answer. At Golden Reserve, we use the help of an Income Forecast, so you can find the answer that works best for you and feel confident in your decision.

2. Build Your Treasure Map

Now that your Social Security election is squared away, let’s take a deep dive into your bucket list. Grab your favorite beverage (this is a celebration after all!) because we’re about to dream big. Write down everything you’ve been wanting to do, from big trips to buying your dream car.  Next, start making it happen. Pick the first thing you’d like to do, and check that box.  
 
The Treasure Map is an opportunity to live your best retirement, instead of living in fear that you’ll run out of money. A recent Wall Street Journal article reported those who spend more in retirement report greater satisfaction. Now that may seem obvious, but what may surprise you is many retirees are withdrawing on average 2.1% of their savings annually, despite evidence they could safely spend nearly twice as much without outliving their money. So, take this as your nudge to live a little.

3. Upgrade Your Castle

And speaking of living a little, don’t hesitate to add some enhancements to your current abode. Chances are you’ll want to stay in your home as you age. A recent AARP study found 75% of Americans 50 years of age or older hope to stay in their current home as long as possible. Let’s make it as comfortable as possible. Take this opportunity to get rid of the old shag carpet or renovate an outdated bathroom to get the finishes you really want and better accommodate your needs as you age.  

But don’t stop there. Spoil yourself with the things that will give you joy and make your life easier. Maybe it’s a fancy coffee machine you’ve been eyeing, or the high-tech bidet your friend Greg told you about. Go for it. You’ve earned it.  

Are you still feeling squeamish about spending money in retirement? It’s time to let go of the fear and gain confidence you’re on the right track. With your personalized Roadmap for Retirement you’ll have a concrete plan to protect your life savings and finally live the retirement of your dreams.  Learn more and schedule a meeting here.  

Disclaimer: Numbers are for illustrative purposes only. Consult a professional for personalized advice.