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Thousands of retirees have the lifestyle of their dreams. These 10 retirement planning tips can help you achieve the same.

When compiling these 10 retirement planning tips, we wanted to consult the experts. That’s why we spoke with a few of the thousands of retirees who have the lifestyle of their dreams. Here’s what they came up with.

1. Invest wisely.

During the initial 5 to 10 years of your retirement, the money you will need is most at threat. Therefore, you should avoid overspending. Once this money has been spent, it is more challenging to recover it. Your pre-retirement investments should include those with predictable income. However, be aware that these usually have lower returns. Obtaining competent and regulated financial advice will assist you in planning for retirement; check out Portafina.

2. Accept inflation as an inevitability.

Rising prices caused by inflation will erode your retirement fund’s purchasing power. You should accept inflation as an inevitability and plan accordingly.

3. Discuss your retirement plans with your spouse or partner.

You and your spouse or a partner must be on the same page regarding your retirement spending plans. In the same way, you would discuss any other significant financial aspect of your life, and you should consult your retirement plans with your other half.

4. Become health focused.

Healthcare is expensive, and many people fail to consider it in their retirement plans. If you have to spend on healthcare, it can significantly affect your retirement lifestyle. Therefore, you should focus on your health and physical fitness. Doing so will keep you physically healthier in retirement and keep your finances in better shape.

5. Create a budget and adhere to it.

To create a workable budget, you must understand how much you can spend. Unfortunately, many people fail to calculate what they can comfortably spend in retirement. You might want to consider getting help, and an investment professional can provide this. They can also give you insights and tools so you can produce a workable budget and stick to it.

6. Find a good investment professional.

Having decided to use an investment professional to help with your budgeting, you should find a good one. If you do not know of one, ask your family, friends, or colleagues if they can recommend a good investment professional. Referrals are an excellent way to find the best investment professionals.

7. Be aware of high travel costs.

Travelling is less expensive and more manageable when you are more mobile. Therefore, consider taking big trips before you retire. Waiting to fulfil all of your travel dreams until you retire will cost you more. Also, when you’re on holiday, be smart with your spending, and adopt the same habits as you do at home.

8. Become mortgage-free.

The cost of putting a roof over your head can be a significant monthly expense. You eliminate this expense and free that money for other things by paying off your mortgage.

9. Extend your working life.

Working for an extra two or three years will have an obvious financial benefit. It means you will continue to contribute to your retirement fund. Of course, extending your working life may not have been in your initial retirement plans. However, even an additional few years can significantly impact your retirement funds and lifestyle.

10. Plan on spending more.

Regardless of how much planning you do, you are likely to encounter emergencies or surprise expenses. Therefore, you should factor these into your retirement plans and budget accordingly.


Like the thousands of people who enjoy the retirement lifestyle of their dreams, you can too. Hopefully, following some of these ten expert tips on retirement planning will help you achieve that.

Thank you for reading.


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