Having a plan in life is very important. Retirement planning has two aspects in it. The first one is the plan when we should retire and the second one is to plan what we should be doing after our retirement. The second one is essential here because some people are lost after their retirement and they don't feel very good when they are forced to get out of their routine. It takes a lot of time to get that acceptance.
Planning for the future is also an important thing in life. Many people think about retirement and what they should be doing after retirement. Some of my friends don't even talk about retirement and they think only about the current life. They don't have a proper retirement plan and what they will be doing after their retirement. The best time to think about retirement and making plans would be to do it when we are young and energetic. That is how we can keep training our minds for that particular day. If we keep going without a proper plan, our minds will not be ready when the day comes.
What is retirement?
Retirement is not like quitting our job one day and doing nothing after that. Some people see retirement as to stop running behind money for a living and start using the money so far for enjoying their life or fulfilling their desires and needs. A peaceful life without any work stress can also be called retirement. Many people don't wish to completely quit working but instead, they pick something very comfortable or passionate for them and continue working on that.
Retirement can either be an early one or it can be till the age of 60. Depending on which sector people work in and which country people live in, the definition of retirement can vary. In some countries, there are some perks available post-retirement. But in some countries, it is quite the opposite where the perks would completely stop after retirement and some people suffer to make a living after retirement without any income source.
Preparing for retirement
Preparing for retirement is not just monitory plans but also how we should be leading our life after retirement. One of my friend's father decided to travel to many spiritual places after his retirement. He hardly stays at home. Some people want to stop going outside and just stay at home doing some household routines. So retirement usually differs from one person to another person and how they see it. But making those plans when we are in the service is very good. That is when we will have the mood to make some concrete plans and if we have to prepare something for that retirement life, we would be able to do it.
People also prefer doing their dream job after retirement. If they get financial freedom, they can explore multiple income streams or different passions. It is not necessary that people have to quit working completely and that is not retirement. I would say retirement is when the individual decides what they want to do in life on a day-to-day basis instead of life deciding it for them.
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