Getting to the end of your formal working life can feel exhilarating or daunting or worrying or exciting or sad or life-enhancing or just a relief. Most probably several of these feelings simultaneously, and more besides. It’s a big milestone, and it marks a huge change in your life. Lots of things are going to be very different, and there will be pros and cons. The trick is to make sure that the pros have the upper hand.
Your personal circumstances are going to be a big factor and, while you can’t control all of them, you can control some of them. Do you live alone, or do you have a partner or family around you? Will you stay put, or are you planning to move house, or even location? How financially secure are you, and can you downsize or relocate to reduce your costs if necessary?
Control is a big part of how successfully you retire. If it feels like something thrust upon you which you’re forced to comply with, you might feel powerless and vulnerable. Whereas if you can see it as an opportunity that you can mould to suit yourself, it’s much easier to embrace it and make the most of it.
Retirement isn’t a single state. You might have decades of retired life ahead of you, and the things you enjoy and are capable of at the start won’t necessarily be the ones you want to do in 10, 20 or even 30 years’ time. You’ll change, and your life will change, as much as it does now. Look back at where you were 20 years ago – see the difference? The next 20 years can bring just as much change. So don’t feel that you’re stuck with the decisions you make as you move into retirement. Of course you’re not. This is just another bend in the endlessly winding and flowing river of your life. The Rules that follow will help you to prepare even if retirement is years away (so no excuses for skipping this section). If it’s more imminent, they’ll help you to dive in and enjoy it.