Retirement may sound great, but not until the reality knocks upon you with disappointment. Some 29 percent of recent retirees polled by Retirement Benefits Authority in Kenya said that life was worse in retirement that it was in a time of employment.
It is one of the several kinds of research that prove a quarter of retirees fail to plan on their retirement formula that comes with either pension plan or retirement planning. To some life after work involves solitudes and loss of direction.
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Mankind was not created to just sit around, it usually takes about six months before people see golfing is fun, but in reality, there is no fulfillment when few people realize that planning for retirement satisfaction is as important as planning for economic health.
Getting involved in magical thinking about retirement happiness-just as some people engage in magical thinking about retirement formulas-they want it but they take no step to get there. The habits formed before we attain 50 are the biggest determinant of how well you retire.
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Well, so how can you retire happier?
Reduce financial worry
Money may not guarantee your retirement happiness but, paying precautions to it is a good step when you retire, you will want to be able to cover your regular bills without worry because the more debt you have the less happy you are that is why you need to make your retirement debt-free. NSSF help you find benefits and grants that you be eligible as a member of NSSF providing happiness in old age.
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National Social Security Fund runs retirement programs that automatically enroll private workers with help from future retirees maximize social security benefits. At a low contribution level of mbao pension, enrollment strategies would help in future to claim benefits in old age.
Such saving will make a difference with big impact for both lower and higher income earners. A small contribution can really make a difference. Better retirement outcome for workers who have access mbao savings through versus those who don’t.
To reach the financial security, you need to plan on taking three concrete steps: pay off debts. Consider moving to a smaller or affordable residence and, create a regular source of income for a business. Remember the more debts you have the less happy you are.
If you have a big house, if you can’t pay off the house before you retire or build one then consider selling or plan to build a small house or on a mortgage. Particularly if the house you have is older then –who need the expense of keeping it up? Sell it. Selling will allow you to tap leftover money into your investment portfolios.
If you will not have enough regular income to cover your fixed expenses in retirement, see a way to create a pension to fill the gap. Consider buying income annuities. One of the reasons why people become so anxious when they retire is because we go from living off reliable salaries to having almost no reliable income at all. When you have income from a job, what you spend one month doesn’t necessarily jeopardize what you plan next month on the contrary, when you retire, every dollar shilling you spend is one that you won’t have in your 70s. Which makes people reluctant to spend anything, because they’re worried about how it will affect them later.
Typically eliminate financial worries by outliving your savings and incomes. Investment portfolio and National Social Security fund promise amount after work. Regardless of how long you worked, social security allows you to live the way you always have, with money coming every month when invested no matter what happens you will have income flow if you save to invest.
Invest in life after work
Don’t forget that anything can come your way with a rude shock, so while the working world creates a set of social interactions, you will lose once you retire. This could increase depression and threatened physical health. At the 60s is when you begin to age-related disorders more so when you are on poor health diet. Talk of the risk of high blood pressure and diseases according to the ministry of health in 60-70s is where many need financial comfort while investment is such an ignored thought in the youthful age.
What matters is you need to invest your life after work by joining bible discussion groups, volunteers community work, physical exercise routine and see other people regularly to stay active. You don’t earn your way to fortunes you invest your way.
Set retirement goals
When you have a strong sense of purpose in life then you include happiness in your retirement plan. You don’t need to climb Mount Everest to find happiness but you need to set goals which could involve friends ideas. Learning new skills, time to see your children can be a goal but is that your retirement purpose? It is very important to have a reason to get up and find something productive to do that will propel us forward. See a way to involve a retirement plan in your goals as make them work right by all means. It might take some time but plan not to take longer and finally, one thing to do is to make you reach your goals.