If you’ve managed to save up a tidy sum, your children have flown from the nest, and you’ve been a contributing member of society, it is likely that you’ve considered retiring. But before you start looking up 55+ homes near me and packing your things, there’s a number of points you should consider in order to ensure your long lasting financial, emotional, and physical wellbeing.

Most people retire around the age of 62, although that’s just an average and differs from place to place and job to job. While some jobs may offer you a pension plan, it is still important to ensure that you’ve made the necessary preparations before hanging your hat up. Retiring is often seen as a rather big stage in life, filled with new opportunities and things to look forward to. However, even though you no longer have to wake up at the crack of dawn to go to work, that doesn’t mean that the rest of your life ahead is going to be filled with sunshine and rainbows.

So what steps should you take to ensure a peaceful retirement and more importantly, what can you do now to ensure that you go through this new stage of life smoothly?

Calculate Your Monthly Expenses

Once you retire from a field, it’s generally pretty hard to un-retire yourself and head back into the workforce. Because of your advanced age or if you’ve been out of the field for a long time, employers may be hesitant to have you join their company. This means that you need to make sure that whatever money you have in savings and from your pension plan will be enough to sustain you for the foreseeable future.

At the very least, you should consider your monthly expenses and calculate how much you would need for your recurring payments. Possible recurring payments you may have to make include rent, housing mortgage, health insurance, groceries, and utilities. Even if you’re still going to be receiving money from sources of passive income, it’s important to have enough money in your savings to be able to at least cover the most important payments. Once you’ve calculated your expenses from the month (use your actual receipts to ensure that the calculations are as accurate as possible), make sure to multiply it by 12 to find your yearly expenses.

The average life expectancy of a person is around 72 years. However, this could be much higher depending on where you live and your access to quality healthcare. What many people may forget to anticipate is the fact that as you get older, it is very possible that you will begin facing more health issues that will require medical intervention. While it is impossible to fully predict what may happen in your golden years, you can still do your research and do your best to ensure that you have enough money to cover your unexpected expenses even in the event of an emergency.

Finding a Community

Making and maintaining friendships can be hard for adults. After all, with the seemingly endless responsibilities and the rush of daily life, there isn’t really that much time left over for meeting new people. However, once you retire, you may find that you have far too much time on your hands but not many people to spend it with. If you happen to be more introverted and you generally prefer being by yourself, that’s all well and good, but this can be a huge blow to people who are more social and enjoy human interaction.

Many older adults may be socially isolated and suffering from possible age-related health issues. This puts them at a higher risk for mental health issues such as depression. Therefore, it is important that you find a community of people to interact with when you retire so that you can have a support circle. This can be done in a variety of ways from picking up a skill or hobby and meeting people with similar interests, to volunteering at local charities.

Furthermore, due to the rise of social media in the digital age, it is possible for you to connect with others without having to leave the house. While it is a popular joke that older adults may lack the skills needed to use technology, most social media sites are relatively easy to use and have a pretty friendly user interface. Additionally, social media is incredibly useful for keeping in touch with friends who may not be in your geographical vicinity. This opens up the chances for connection to more people and can be invaluable for those who are bed-bound or have mobility issues that prevent them from getting around easily.

Before retiring, there are many things to consider. Your financial status, the area you want to retire to, and your healthcare needs are just a few things that you’ll want to look into. The important thing, however, is to do your research and ensure that whatever arrangement you have will be able to satisfy your needs for the rest of your golden years.