Without adequate finances, maintaining a good lifestyle after retirement can be challenging. Retirement coach, Ann Nelson shares how seniors can supplement retirement income to live a life they love in the later years.
Retirement can mean many things for different people. While some welcome the change in lifestyle pace and the gift of newfound freedom and flexibility, others worry about maintaining a good lifestyle after retirement after leaving regular employment and the security of a full time wage.
Often the thought of retirement in Australian society conjures up images of travel, spending time with family and friends, and enjoying relaxing hobbies, however fun, nurturing and carefree plans for the future can become stressful and overwhelming if the retirement fund money runs out. Instead of feeling content, at peace and happy, some people are forced to go back to work, or to live the last days of their lives in poverty experiencing financial hardship.
Retirement coach, Ann Nelson says that because retirement has many variables, planning for the future can sometimes prove more difficult than people think. “Sometimes a person’s life savings for retirement don’t quite meet the expectations for the lifestyle they’re hoping to maintain, and they’re confronted with a scary situation that they never planned to be in,” says Ann. “In situations like this, I encourage people to move to Plan B to get back to living a life they love and the easiest way to do this is to supplement retirement income.” www.annnelson.com.au
With people living longer now than ever before, Ann Nelson says the working population – even young people – should consider saving for and planning their retirement as soon as they can, and contribute extra money to their retirement fund whenever possible. But for every situation where a retiree falls short financially, there is always a solution.
“There are many ways you can achieve your goals in your later years, even if the sufficient savings aren’t accessible. This can be overcome by finding avenues to supplement your income; you shouldn’t have to give up your dreams,” says retirement coach, Ann. “Some retirees turn their hobby into a business. Others may try things like consulting work, writing a biography, planning parties, serving as a personal secretary or setting up computer systems. There’s always room to be creative with things to do in retirement, and there are always options.”
Ann Nelson became a widow at 55, and was forced to manage her finances alone. She gained knowledge from seminars, joined groups and sought advice. She made mistakes along the way but gained wisdom from them. With one book under her belt, she is now a podcast show talking with others to and sharing stories on how to have a successful retirement, just as she has – in their later years. www.annnelson.com.au
To find out more about retirement and Ann Nelson’s inspiring story, visit www.annnelson.com.au.