Six things that will ruin your retirement
SEE ALSO :5,000 teachers to get Sh1m each3. Assuming you’ll never stop working When you’re young, you have the energy to try out different things. If you try something out and it fails, you can still reinvent yourself and try something else. However, adapting to new technologies could be difficult as you grow older. Medical conditions are also common in old age and can make working difficult. So even though you’re very good at what you do, you’ll discover that many people prefer to work with someone younger and more tech savvy. Don’t plan for a retirement that involves work, because all sorts of things could happen that make this impossible.
SEE ALSO :How millennials can retire early4. Living an unhealthy lifestyle The way you live when you’re young impacts how you age. Take care of your health to avoid being taken out of commission prematurely by lifestyle diseases. Quit smoking, drink in moderation, if at all, reduce the amount of junk food you eat, incorporate an exercise regime into your lifestyle, and handle stress correctly. Chronic stress is a major cause of life-threatening diseases, such as high blood pressure, heart disease and stroke, so learn how to step away from toxic situations and create a support system. 5. Assuming you can live on a pension Your pension is a small percentage of your salary. Don’t imagine that once you retire you’ll spend less and the pension will cover your needs. You’ll still have a life, want to travel to places, attend events, such as weddings or graduations. Your house and car will still need maintenance, you’ll still need to replace stuff in the house and in your wardrobe. Anticipate the effects of inflation and keep in mind that things will be more expensive in the future. 6. Failing to secure your relationships Leaving unresolved issues in the family to fester until retirement can cost you dearly. It’s easy to find yourself abandoned and neglected by family members in the years when you most need their support. Family members who tolerated you while you were working and productive might lose patience with you after you retire. Further, loneliness can cut years from your lifespan. Don’t put off reconciliation until it’s too late. You’ll need to rely on more than just yourself.
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