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Are you considering retirement in 2021?

Category: Events

Are you considering retirement in 2021? For some of us, the option to retire is a real possibility - although you may have had very little time to explore what this really means.

A life full of activities including handling job responsibilities, looking after children as well as a myriad of other things, might have kept you focused on day-to-day concerns with little time for anything else. But when your job comes to an end, this very often frees up the time to look over the parapet and think about what to do next.

Retirement can be a welcome prospect for some but for others it may feel frightening – ‘do I need to work?’, ‘will I get bored if I give up work?’ and, ‘do I have enough money to retire?’ are just a few of the questions that can appear when exploring retirement.

So here are some of our top tips to help you if you’re considering retirement, or some form of retirement in 2021.

Orientate yourself

Fortunately, retirement support is something that CTP provides. The starting point begins with orientating yourself in relation to what may seem rather alien – it’s about taking control of the future. Exploring retirement helps you take stock of your current situation while encouraging you to spend time crafting a vision of your desired future; based entirely on your own values, drivers and individual circumstances.

It’s important to not put undue pressure on yourself and to take adequate time to think about these circumstances. Remember, it’s ok to take some time for reflection and recalibration before committing to anything.

Adopt an open mindset

We very often have greater freedom to act when planning retirement than we realise. For many it’s an opportunity to think about your own interests rather than simply being driven by financial considerations. Limiting constraints such as paying for mortgages, university education, schooling etc. have often disappeared as younger family members have left the home.

Therefore, exploring retirement enables you to make choices based on what you would really like to do, and provides you with the freedom to adopt an open mind-set.

Develop your plan of action

Another key element of retirement is working towards a plan of action. It’s helpful to understand the different pieces of the puzzle that need to be analysed and addressed so that you can consider everything necessary before moving forward. It's worth noting that adequate reflection on those key elements includes financial and legal considerations, and adopting a holistic perspective is always advised before drawing up a retirement or lifestyle plan.

Our ‘New Horizons, Moving Towards Retirement’ one-day workshop covers all the areas listed above, while our website provides useful information on retirement planning and helpful resources that target a range of important retirement considerations. It may be that you’re not planning to fully retire but instead, want to incorporate some work or self-employment elements as well. Again, we offer insightful and informative resources and workshops to support you with your decision.

Here at the CTP, we’re equipped to support those transitioning to retirement in a productive and meaningful way. And our support can help make the transition as smooth as possible, reminding you that retirement is an exciting part of your life journey that opens the door to new opportunities.