Leaving the Workforce: 4 Tips for Soon-to-be Retirees
People spend a large portion of their adult life working. That is why people look forward to retirement. However, there are several things that you will need to do in order to get the most out of retirement.
Decide When You Want to Claim Social Security
If you claim Social Security before the age of 66, then you will not get the full benefits. You can increase your benefits by waiting until the age of 70. In fact, you can increase your benefits by 8 percent for every year that you delay drawing Social Security. It is a good idea to delay Social Security if you are healthy because you will be able to accumulate more money.
Find a Hobby
Finding a fulfilling way to spend your time is one of the keys to getting the most out of retirement. You can pursue a hobby that you are passionate about. Fishing, reading, traveling and writing are some of the hobbies that many people enjoy during retirement.
You should do things that allow you to socialize with other people. Socializing is one of the keys to staying healthy and happy during your golden years.
Work or Volunteer
You may retire from your career, but that does not mean that you have to stop working. You may want to work a part-time job. This is not only a great way to bring in some extra money, but it also has other benefits. Studies have shown that seniors who work part-time are less likely to suffer from major diseases such as high blood pressure.
If you do not want to work, then you can volunteer. This is a great way to give back to your community. You can volunteer at a school, nursing home or homeless shelter.
Choose Your Health Care Plan
You likely will not be covered by your employer’s health insurance plan after you retire. That is why it is important to select your health care plan before you retire. Keep in mind that if you are 65, then you can sign up for Medicare. You will need to sign up for the Medicare plan during the enrollment plan in order to avoid a penalty. Once you’ve secured adequate insurance, you can start looking into health care providers like United Nursing Services and similar groups who will be able to provide for you as you continue to age.
You have to plan for retirement in order to make it a success. You will need to select a health care plan and decide when you are going to draw Social Security before you retire. You can also select a hobby to help you pass your time. Furthermore, you can work or volunteer.
Author: Kara Masterson