10 Things to do before you retire

As your retirement years creep closer, you may be wondering what you need to do to prepare. Here is a helpful list of things to prioritize if retirement is on your horizon.

1. Decide how you are going to spend your time. What are you going to do during the first six to 12 months in retirement? And what do you plan to do for the rest of your retired life?

2. Determine realistically how much money you will spend each month. Remember to include random expenses like birthday gifts, holidays, special outings and emergencies.

3. Anticipate the cost of health care. Once you retire you will have no employer to pay all this for you, it’s all up to you.

4. Buy long-term care insurance. Now!

5. Refinance your mortgage. Many people are surprised to find out that they either cannot borrow money after they retire, or they are forced to pay higher rates.

6. Boost your cash reserves. Always try to make sure that your rainy day fund is enough to cover at least six months’ worth of expenses.

7. Evaluate your sources of income. You have already figured out what you’ll spend on a monthly basis, now figure out where that money will come from.

8. Revise your investment strategy. The way you have dealt with your investments over the last 30 years is not how you should handle them for the next 30. When you prepare for retirement you should be focused on asset accumulation, but when you’re in retirement you need to focus on income and on keeping up with the increased cost of living.

9. Review your estate plan. If you don’t have your will and trust – get them! These documents can protect you and your assets while you are alive and benefit your spouse and children when you pass on.

10. Perhaps the most important thing of all. If you are not excited to retire, then don’t. Many people quickly become very bored after retiring. It’s okay to return to school or work. Many people choose to do this.

Some of the things you should prioritize before retirement, you may have already started or completed, and others you may not have yet given any consideration. So make sure to do these ten things before you decide to retire.

At Pinelands Grove Retirement Village, we can provide you with the perfect senior community establishment you desire where you can enjoy the finer elements of life.

5 ways you will save money after retirement

There are many expenses that will be reduced after retirement. Some work-related costs retire along with the job, while others can be eliminated once you are no longer supporting a family.

Here’s how you will spend less after retirement…

Housing – Housing is the biggest monthly expense for most working households, but this can all change in retirement. If you have been diligent about paying your mortgage, you could pay off the loan before retirement. This will reduce the monthly cost of housing greatly, but that’s not the only way to spend less.After retirement you won’t be tied down to a location near your work anymore, and the possibilities are endless! You can sell your house and move into an affordable retirement village like Pinelands Grove Retirement Village.

Transportation – One thing you definitely won’t miss about work is the commute. The average daily commute is almost an hour. When you are retired, you won’t have to get frustrated at rush hour anymore, plus you will save on petrol and car insurance. If you retire and find yourself living in a location with reliable public transportation, then getting rid of your car is a realistic option.

Kids – You would be surprised how much it costs each year to raise a child for 18 years – it’s a lot! And that’s not even including higher education. These costs include a larger home, child care, sports equipment, after school activities, health care, clothing, transportation and the huge amount of food they consume. Hopefully, by the time you retire, the kids will all be out of the house!

Work-related expenses – It can cost quite a bit of money to keep a professional appearance. Professional clothes and shoes are expensive, and once you’re retired you won’t even need to wear them anymore. Coffee and espresso shots can help you stay focused at work but they can also drain your wallet. These expenses might not seem like a lot, but they can add up each year.

Conveniences – Employees with a full-time job don’t have much extra time, so they value conveniences and are willing to pay for them. Luckily, retirement is a completely different story. You have a lot more free time and less income, so you have to prioritize things differently.

As you adjust to your retirement lifestyle, you will find that there are certain expenses you are able to save on. The bulk of these expenses are necessary during your working years, but retirees can reduce or eliminate these costs, freeing up time and money for something else.

At Pinelands Grove Retirement Village we can offer you gracious living in an attractive location. Here you can come to enjoy the finer things in life!

Why Seniors Should Embrace Technology

These days’ seniors are living longer and fuller lives. One reason for this is all the new and latest technology that keeps coming out. Through the introduction of tablets, eReaders and smartphones, seniors should let technology into their lives, now more than ever!

Here are 5 reasons seniors should embrace technology…

1. Helps you Stay Connected
Those who use the internet and communicate through email or social media are less likely to feel isolated or lonely, especially seniors. It can also improve self-esteem as seniors feel they have a support system nearby no matter how far they may be from their family and friends.

2. Boosts your Brain
Learning a new piece of technology is a great exercise for your brain. Typing, searching the internet, or even just learning how to operate something like a smartphone or tablet forces your brain to work in a new way. Continuing to learn as we age is extremely important to strengthen our memory and maintain mental sharpness.

3. Improves your Mood
Because technology makes it so easy to stay in touch with family and friends, it also has the power to reduce feelings of depression and improve self-confidence. Whether surfing the internet to explore new places, viewing photos of loved ones on Facebook, or downloading a new book to read on a tablet or eReader, technology allows us to escape to another world for a moment – reducing anxiety and tension.

4. Stimulates Creativity
There are a number of games and puzzles that can easily be played on a computer or a tablet. And while these are usually praised for their ability to boost our minds, they can also boost creativity. Technology also makes it easier for seniors to tap into their creative side through writing, drawing or even painting electronically.

5. Provides Entertainment
Essentially every movie, television show and book can be downloaded online. For seniors this can mean watching their favourite programming whenever they want. There are also a number of multi-player games and apps that seniors can take advantage of, allowing them to be entertained and remain social.

Technology has the potential to open up a whole new world for seniors. It can also help seniors with day to day activities. There are a lot of apps, like calendar apps that will remind you of important appointments, or medication reminder apps that ensure you’re taking the right medication at the right time. 

At Pinelands Grove Retirement Village, we are here to help you embrace any lifestyle you choose. Remember that units are going fast at our Retirement Village, so book your place now!