If you are on the cusp of retirement, there is so much to look forward to. Maybe you have been longing for this milestone for years, and are looking forward to moving somewhere warm, traveling, or taking up new hobbies.

Whatever your plans are with your new free time, there are certainly many things to consider as you approach retirement. From finances to where you will retire to what you will do in retirement, there are many considerations that you should not put off until you hand up your suit and briefcase. Here are some things to consider as you plan for your retirement:


Obviously, one of the top considerations that should be front of mind as you near retirement is your finances. Take a look at all of the accounts you plan to utilize in retirement for your living expenses. Calculate your planned cost-of-living in retirement. It may stay the same, it may decrease with decreased work-related expenses like gas for commuting, or it may increase with increased expenses going towards travel or hobbies.

Then, calculate how long your money saved for retirement will last. If you need help with this, seek out a financial professional who specializes in this, or speak to someone at your workplace familiar with the retirement and subsequent withdrawal process. It is very important to make sure that your money will last you through retirement.


You will also want to consider where you want to live in retirement. Do you want to stay where you are? Move someplace warm? Relocate to be near family? Whatever option you choose, be sure to calculate what your living costs will be in your new location, including any moving costs, housing costs, and any changes in daily expenses.

Before you retire, you may even want to begin looking for housing in the locations you are considering to gauge what your cost-of-living would be in the area. For example, if you want to move somewhere warm, you may look into options like Pensacola, Tampa, or Fort Lauderdale houses for sale. Once you have a location, you can begin making related plans.

Things to Do

Finally, you will also want to consider what you will do in retirement. After so many years spent working, do you want to use your retirement as an opportunity to slow down and take up a relaxing hobby like bird-watching? Or do you prefer to keep the momentum that you have going and volunteer in the community or join a walking group?

Whether you plan on a relaxing retirement or an active retirement, you should be sure to consider how you are going to fill your time. It can be a shock to go from a set work schedule to wide-open swaths of time, and it can be useful, before you retire, to consider how you want to spend your new free time.

Retirement is such a huge milestone, but it can also be a bit overwhelming. However, with proper preparation, you can go into retirement confidently and full of excitement.