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Retirement doesn’t have to mean doing nothing at all. In fact with a longer than ever life-expectancy, that probably is not an option for most. The main reason to continue working is money (or more like the lack of it).
I know many people who have planned ahead, invested and budgeted well, and still worry about their savings. I also know people who face a financial crisis if they stop working.
Other people need to supplement their personal pension (if they are lucky to have one). And there are of course, people who need to stay busy and active to keep a sense of purpose and identity.
Retirement and stress related to finances lead to looking for a job after retirement which could be a quite stressful endeavor by itself. You need to prepare for an interview (when was the last time you had one?), and learn how to transfer your skills. Retirement jobs online provides valuable information about full time or part time job opportunities for boomers.
II. Taking care of parents
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You are lucky to have your parents still around you, but as they get older and older it can be very stressful to handle the day-to-day care, health needs and financial issues. The cost of nursing homes, medication, and insurance for the elderly can be financially challenging.
III. The sandwich generation
Looking after the needs of growing children can be challenging. Add that to the demands of caring for aging parents, and the responsibilities of the so-called "sandwich generation" can be overwhelming in terms of retirement and stress.
I know many retired people who take care of grandchildren in order to financially help out their working children.
IV. To sell or not to sell the house?
Once the children are gone, the house suddenly looks too big and empty, the cost of heating and cooling it going up each year, and it is becoming increasingly difficult to keep it up. There are also health issues to consider- stairs, accessibility for people with disabilities, proximity to a medical facility, to shopping center, etc.
V. How to make retirement stress free?
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If you think you are going to have a stress free retirement ONLY because you have managed well your portfolio – you may be surprised to read that money may not guarantee you anything remotely free of stress if you don't take care of the other sources of stress I just mentioned above (Retirement and stress Financial issues is just one out of three clusters), or if you have quality of sleep, or if you eat the wrong food (both in terms of quantity and quality).
And remember: If your waistline is above 35 inches (women) and 40 inches (men) you better do something ASAP. See healthy waistline numbers.
Read how Emotional issues and
Health issues can affect your retirement.
Learn about the connection between Retirement and waistline.
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