Many people are anxious about retiring. And the feeling of anxiety increases as this date approaches. Let's take a closer look at the reasons for this so that you can approach this new chapter of your life with confidence.
More time at last
This actually sounds pretty good: Retirement is when you finally get to do all the things you've always wanted to do. For which there was just not enough time. But this thought alone will not always make you look forward to a new life without work. But why is that? Often there are still too many unresolved aspects and questions, and this creates permanent room for pondering.
There is only one thing we can do to rid ourselves of this burden, which ultimately saps our strength in the present as well: stop dwelling on the uncertainty and take action, address unresolved concerns and actively start planning. For most people, two key issues can be identified at the core of their uncertainty. On the one hand, the financial aspect and, on the other, the worry of not being able to cope with the big change and not knowing what to do with their free time.
Old-age provision takes many forms
Old-age provision is a term that is very often limited exclusively to its monetary meaning. But a healthy bank account is not the only thing that matters, it is but one component contributing to peace of mind. Physical and mental health also play a big role in achieving a fulfilling life after retirement. The ability to first accept change and then embrace it to make the best of it is a strength that is required of us from childhood onwards in every stage of life. We learn to cope with it better each time, and we also know that sometimes it takes a little while until we come to terms with a new situation. The same holds true for retirement, and that is perfectly acceptable. If we manage to scale down the enormous expectations, it can be very reassuring.
Talking to others helps a lot. An exchange with friends and acquaintances who have perhaps already reached retirement is encouraging. It can make the idea more real and tangible, and it loses its horror. Find out for yourself what kind of pursuits bring you contentment and joy. Look forward to spending time with your hobbies or find new ones! There is a wide range of opportunities, from social and voluntary work to counselling, where your professional experience is valued and needed.
Determine the actual financial situation and scope
Having clarity about the actual amount of income upon retirement takes away the worry about a possible pension shortfall. The respective pension providers will be happy to provide reliable information on the pension status and the expected future development. Also check if there are any additional options, such as private pension or life insurance policies, investment income or further income from rent or leasehold. This allows you to reliably predict what income you can expect.
The next step is to determine your financial needs in retirement. What do you want to achieve, what plans do you want to implement? Now you can compare projected income and expenditure and get a clear picture of the asset structure. If pension shortfalls are identified, or if you have additional reserves that you would like to invest specifically to build up additional retirement income, it is worthwhile to look for investment opportunities with secure returns.
Many prospective retirees are also concerned about estate planning and providing for their children and family. Against this background, the investment sector in particular is concerned with minimising risk and independence from stock market fluctuations. The desire for planning security is at the top of the list.
Value stability is a hallmark of parts of the alternative investment sector and the real estate market in particular, because a tangible asset holds actual value. An additional trump card is the possibility of owner-occupation or the generation of regular income through renting or leasing.
Many institutions offer retirement planning support. Cities and municipalities as well as adult education centres also offer guidance. Actively preparing for retirement through transparent asset management as well as planning what to do with your time makes uncertainties disappear and allows you to look forward to a new phase in your life with anticipation!
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