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You’re never too young to start thinking about your Retirement days.

You shouldn’t just assume things will work out or take care of themselves. And you shouldn’t think that retirement is as simple as leaving work and never going back again.

It’s so much more than that.

When you start forming useful practices early on, you set yourself up for success later down the road. With that in mind, we are here to tell you about the five habits you should pick up now that will ensure you have a successful retirement.

1. Retire at the Right Time

One mistake people tend to make is retiring just because they reach a certain age.

Age is undoubtedly a factor in retirement, but it’s not the most important one. It would be best if you were more concerned about how much money you have in the bank than how old you are.

Money matters in retirement.

Even working for a lower paycheck in your 50s and 60s will give you more money than taking Social Security right away. It will do you way more good to plan on keeping a job as long as possible.

If you’re able to work past your early 60s, there’s a good chance you should.

Yet, it all has to do with how well you’re set up to retire. If you made all the right plans and preparations, you might be more than set financially to stop working before reaching 60.

The bottom line is you shouldn’t just retire to escape a job. It would be best if you retire because it’s the right time for you.

2. Know About Your Income

You should know everything there is to know about the money you have coming in during retirement. The more you know about your income, the better off you’ll be when you start spending that money.

Take the time to figure out an approximate amount of how much you’ll be getting from different sources.

You’ll likely be getting income from some or all these sources:

• Social Security
• Retirement Plans
• Savings
• Investments
• Hobbies

If you can manage it, delaying your social security benefits can amount to more income later.

Putting off social security until you’re 70 amounts to as much as 32% more income than if you were to start collecting benefits in your 60s. That’s a pretty significant difference.

There’s no such thing as going too in-depth when it comes to your livelihood. These sources of income are what make it possible for you to enjoy your retirement. Knowing all about them is the key to success.

3. Keep Track of Your Expenses

Just like you know how much money you have coming in, you should know how much you have going out.

Ensure you’re keeping track of how much you’re spending versus how much income you have every month. You don’t have to obsess over every cent; just keep an eye on your credit cards and bank statements.

This habit will also help you look out for any suspicious activity with your accounts.

It may benefit you to keep a retirement budget to track your income and spending. Lay it all out in a notebook or on a budgeting app, so it’s easy to see your financial situation at a glance.

Budgeting is a great habit to incorporate at any stage of your life and will significantly benefit you once it’s time to carry over into retirement.

4. Choose the Right Place to Live

There is a lot to consider when you choose where to live in your retirement. It has to be as good for you 10 or 20 years from now as it is when you retire.

It’s important to weigh the pros and cons of different retirement housing options before you decide.

Here are a few things for you to consider:

• How you will handle maintenance
• How close you are to family or friends
• How close you are to the things you need, like the grocery store and your doctor’s office
• How much living in each place costs

For some, it makes sense to stay in the same home they’ve lived in most of their lives. For others, it’s best to move to a smaller place, a place with better accessibility, or a retirement community.

If you genuinely want to live your best life in retirement, you have to be honest with yourself about your needs. Then figure out the perfect living arrangements for you.

5. Prioritize Your Health

Keeping an eye on your health not only saves you money but helps you live a longer, more fulfilling life.

As you make your way into retirement, you should be eating a well-balanced diet. You will also need to monitor any existing health conditions. Do your best to prevent anything new cropping up by seeing your doctor regularly.

Staying active is also crucial to your physical, mental, and emotional health.

Go for walks, take up swimming, or get into yoga to keep your body moving. Staying mobile is a great way to live your retirement to the fullest.

Your brain also needs some working out to stay sharp in your golden years.

Read a little something every day. Start doing jigsaw puzzles, if you enjoy that kind of thing. Play cards with your buddies if you like that better. Even games like crossword puzzles and word searches help keep your mind exercised.

Finally, try never to put emotional health on the backburner in retirement. Getting lonely as you age is nothing to joke about.

Make sure you’re spending plenty of time with your family and friends while you have all this time on your hands!

In Conclusion

Good habits are something to think about both before you get to the point of retiring and after you say goodbye to your job for the last time. Just because you’ve retired doesn’t mean you can start slacking on everything!

These five habits are the most important things to keep up with to ensure your retirement is successful. They should be your priority starting now so that you can enjoy yourself when you’re finally ready to move onto the next stage of life.

[Author Bio:]

Leon Grundstein has more than 28 years of experience in real estate development, with over two decades of experience in the retirement industry. He founded Lynnwood Scriber Gardens with a game-changing business model to promote a healthy and robust retirement lifestyle for older adults.

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