Retirement The Beginning Of A New Life

Retirement The Beginning Of A New Life



Retirement - The Beginning Of a​ New Life
Before the 19th or​ early 20th century, a​ worker will work until he dies or​ until a​ time where he can no longer perform the job he is​ entrusted with .​
If it's the latter case, then he will have to​ rely on his life savings or​ from his family to​ meet his daily requirement .​
Nowadays, many developed nations have some sort of​ a​ pension scheme installed to​ provide some funds when a​ person retires in​ old age .​
This pension fund is​ contributed partly by the employee and partly by the employer or​ government, based on certain percentage of​ their salary or​ income .​
The retirement age varies from one country to​ another but mostly it​ is​ between 55 and 70, depending on the nature of​ work .​
In the United States, 65 is​ considered the normal retirement age.
Planning your retirement
Life after retirement is​ totally different .​
You no longer need to​ wake up early and prepare for work .​
However after a​ period of​ time, you'll get tired of​ doing nothing .​
With no more income coming in​ at​ the end of​ the month, life soon gets a​ bit stressful.
So, how do you avoid getting into this situation? The simple answer is​ to​ plan your finances early .​
Start your own savings if​ you are not contributing to​ a​ pension fund .​
a​ fix portion of​ your salary should go into this account .​
To do this consistently over a​ period of​ time demands a​ high level of​ discipline .​
Most will fail after the first few months.
Another suggestion is​ to​ purchase an​ endowment policy .​
This is​ a​ life insurance policy that promises to​ pay a​ lump sum of​ money after a​ specified term or​ earlier if​ death occurs .​
Some policies may also make a​ pay out when the policy holder suffers a​ critical illness .​
When using this option choose a​ term which will roughly coincide with your retirement age .​
These are just a​ few of​ the suggestions to​ help you plan your finances.
Things To Do After Retirement
There are many things you can do after retirement .​
It is​ the time to​ do things that you do not have time to​ do while you are busy working .​
Many people choose to​ spend their retirement years on leisure activities .​
You could go on a​ tour for a​ change in​ environment after your retirement .​
Maybe go to​ places that you read from magazines or​ travel brochures .​
Some people engaged themselves to​ a​ daily round of​ golf .​
Whatever it​ is, it's your choice and you deserved it.
Others choose to​ explore new careers opportunities after their retirement .​
Many people have used this option especially with the introduction of​ Senior Citizens Freedom To Work Act, 2000 .​
This bill allows senior citizens to​ earn their salary without any reduction or​ loss of​ Social Security benefits.
Many other retirees have also ventured into business after their retirement .​
They could start a​ small shop doing the things they love .​
If you have a​ hobby like cooking, you could set up a​ small restaurant to​ continue cooking and getting an​ income for it.
Conclusion
Retirement is​ not just a​ date to​ stop working .​
It is​ the beginning of​ a​ new life - a​ life filled with excitement and anticipation .​
Much of​ it​ depends on you and how you want to​ continue living and contribute to​ the society after your retirement.




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