Retirements can be scary. The thought of losing that regular pay check can be crippling. Research shows that many slide into depression, while others lose their essence just wondering what life holds for them.
Retirement funds are designed to provide soft-landing, while the pension provides some form of security. But seldom is this ever enough. In reality, it simply appears that many work hard to retire well. Massive savings, delayed gratification, all geared towards enhancing comfortable living upon retirement.
While the above represents the reality of many retired and soon to be retired, there is ample knowledge that stipulates a way out of the rat race. Some of which sound unbelievable, an example of such is the 26-f plan.
But believe it or not, it is possible to retire like a king and below is five simple ways to do so.
- Retire healthy
Health is wealth. The amount you have in your account and the worthiness of your credit card would count for nothing royal should you retire with one health challenge or the other.
Many spend their life savings treating ‘stuff’ they could have avoided during their working days, if only they imbibed healthy habits. Prepare for the life you want to live when you retire. Would you rather be the wealthy sick fellow with a long-standing disease or the healthy fellow who only visits the hospital for medical check-ups?
The throne doesn’t stay empty just because the king is sick. If you truly want to retire as a king, start today to practice healthy living. Health is wealth.
- Make your last days loud
It is true that you never get a second chance to create a first impression, but you can at least try to correct the impression subsequently and who knows? With time, the first impression is either forgotten or subdued.
But if you fail to make your last impression loud, you will never get a subsequent chance to do so. Kings are known for loud statements. Make your last working days memorable for you and for everyone around. Do yourself some good. You can start by investing in a 26-f plan.
Ensure you have something memorable to take away with you and be sure to create such experience for others as well.
- Invest in 26-fs
The 26-f planis a retirement program. It can be better described as atype of retirement savings vehicle that takes advantage of rules set forth in U.S. Tax Code 26, Subtitle F.
The principleis for people to save and invest with an insurance product. This product is usually a whole life insurance policy. The magic here is that the cash value or returns from the investment can be accumulated over time on a tax-deferred basis.
Mere savings are not enough. Take the step, put your money where it stands the chance of growing and you are such to retire like a king.
- Invest in Real Estate
Real estate investment is a gold mine. Kings live in mansions. With an investment in real estate, not only would you retire as a king but you will also own your domain.
You don’t need millions to invest therein. You can start small. Most firms and brokers have flexible payment plans that allow you the freedom to invest.
- Invest in the future
Before retiring, be sure to invest into the future. Information technology is the new oil. It is the future that is with us, while unveiling its dimensions. As you save up and pull funds into your 26-f plan, set aside some finds for investment in real estate.
The whole idea of retiring like a king is founded on worry-free retirement. You are putting in lots of energy into your work, plan for life after work.