This Is The Only Way To Have A Successful Retirement

For the majority of working adults, you will find the one thing they’re looking forward to most is retiring from their day-to-day job. Retiring does not necessarily mean that you will never work again, it could mean that you choose to work on your terms, and not because you are reliant on your next pay cheque.

Retiring provides you the freedom to do what you choose. That choice could mean that you have the flexibility to take a last-minute holiday whenever you want or could simply mean that you can now stay at home, watch TV and relax all day. Most importantly, it’s your choice. Retiring though is not something that is going to be easy, or something that you will be able to do in a few years. If you are serious about retiring on your terms, you will need to ensure you follow the below five points throughout your working career:

Make Plans Early

Planning for your retirement is key to success. You need to ask yourself questions such as, when do I want to retire? What do I want to do? Where do I want to live? Once you have a specific plan in mind, you can begin to budget and write up financial plans to meet your targets and realise your expectations.

Create Goals

Once you have designed your financial plan and identified your specific targets, it is beneficial to break them down into achievable goals. For example, I want to have contributed 10,000 GBP to my pension by the end of the year.

By breaking down this overall objective into seemingly smaller goals of 2,500 GBP per quarter, your overall target will seem increasingly attainable.


Budgeting whilst you save is not only beneficial in terms of helping you reach your goals, but it helps to ensure that you are equipped to efficiently manage your finances in retirement. It is best to form good habits now such as learning to cook at home, or utilising deals available on the internet, as these small changes will serve you well in later years.

While you are working, you will learn to live on a fixed proportion of your wage with the rest going towards your retirement. You need to plan a strategy for making sure this smaller amount of money goes as far as possible. This may mean that you will have to postpone big holidays until you hit retirement.

It may be that you have to sell your car and buy a cheaper one. These are all sacrifices that in the long term will contribute to an enjoyable retirement.

Learn the Modern Ways

We live in an ever-changing environment, which sometimes we may not like and in many ways, seem alien to us. Temptation may lead us to stick with our own trusted ways, which may prove helpful for a while, particularly whilst we are still working.

However, when we retire, we find ourselves thrusted into an entirely new state. You may already note that courses that we once would have to physically attend are not available online, perhaps exclusively online. Children and grandchildren increasingly start to communicate with us via technology whether that be through the laptop or smartphone.

If we do not embrace technology, we can find ourselves becoming very lonely in today’s environment. On the other hand, if we enter into retirement with a sound knowledge of modern ways, we will thrive. So, while you are still working, take the computer course available at your local library, upgrade your internet, buy the latest Smart Phone. Embrace technology, and it will embrace you.

Find an alternative to work

Some individuals struggle with retirement. The difficulty arises when after having worked all of their lives, they do not know what to with themselves when they all of a sudden have all of this new found time on their hands. It is easy to say I cannot wait to sit down and relax for the coming decades, but if your work has occupied your entire life, you may soon find yourself bored. What you will need is something to replace work with.

Luckily, you have a huge array of options available to you. You could enrol in that course which you have wanted to study, do some voluntary work, take up a hobby that has always interested you but that you have never quite had the time to involve yourself with. You could even use the knowledge that you have acquired over your working life to lecture. The world is your oyster. is written by David Jacobs who is on a quest to retire early and get out of the rat race. David is a financial expert who lives for early retirement. Follow his journey making money, saving and investing to retire early and get the best out of his retirement.

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