4 Ways to Prepare for Retirement

I just had a birthday last month. I am inching closer and closer to topping that hill and going over it.

Considering the fact that I am most likely not going to get any younger, I should probably begin to think of ways to prepare for retirement.

woman looking at stocks on mobile app

Prepare for Retirement

Whether I want to think about it or not, at some point I may need to step back and take a break. I will have 3 young girls still left at home that may keep me feeling young, but there is no avoiding that “retirement age.”

Of course, I would want to enjoy my retirement in bliss and experience relaxation and luxury after all the years of hard work. We think we want to retire to Auckland because it’s a beautiful place.

We also read that there are many beautiful retirement villages there, and some are even near beautiful beaches. 

Since my husband and I both work from home, we need to thinks of way to prepare… now.

  1. Start saving… NOW. It really is as simple as that to just get started. You can always start small and increase your monthly savings when you can. The important part is simply to START saving and then keep going. Set a goal and stick to it.

    If it would help, you can try downloading useful investment apps to help you save. We tried one that helps us keep the spare change on our purchases.

    Every purchase that isn’t a whole dollar is rounded off and goes to the bank for automatic savings. This way, we didn’t realize that our money was growing incrementally.
  2. Avoid debt at all costs. Colby and I already live by the mantra that if we do not have the cash for it, we do not need it. No credit cards for us. Basically, think of ways you can reduce costs and still stay out of debt.

    In the past years, this practice has helped inflate our retirement savings and has helped us live within our means. It even helped our house be tidier and more organized since we don’t buy new things that usually just pile up and are never used.
  3. Know your financial needs. Make sure you know what you will need to be financially secure after you retire. Will there be monthly payments or other additional costs?

    Consider that you will most likely need close to 70% of your pre-retirement income. Plan accordingly. There is not a one-size-fits-all plan. Research information to assist you with finding a suitable financial advisor.
  4. Invest your money wisely. Whether investing in bonds, money mutual, stocks, or IRA’s, make sure you make a smart investment.

    We also downloaded a mobile application that helped us invest in stocks. This application monitors the movement of stocks and automatically invests in our preferred ones.

    We don’t even need to click anything; we just choose the presets after installing the app on my husband’s mobile device, and the app does its thing. There are many ways you can invest using technology today, but you have to spend time reading reviews like we did.

    Education can be your best friend in this area. Research and make informed decisions.

What is your best way to prepare for retirement?

Any tips you can share?