26 Sep How to Plan For Old Age in the UK
How easy would it be just to carry on living your life and forget about tomorrow? So easy in fact that many people choose to do just that. However, if you want to live peacefully and happily as you get older, perhaps it’s time to start thinking about things before it’s too late. Before you know it, you’ll be knocking on the retirement door only to find you’re not prepared.
There are lots of things you should be thinking about, such as making a will, organising power of attorney, making funeral plans, and thinking about future care needs.
If you’d like to get ahead of the game, here are some things you should consider today if you want a worry-free future.
Make a Retirement Budget
When you’re done with working and ready to retire, you want to have enough income to be able to live comfortably. It’s never too early to start making a retirement plan.
The expert opinion is that you need at least 70% of what you make now. If you’re not sure about the figures, consult a financial planner for some advice and guidance.
Stay Active
This is important if you want to be able to enjoy your retirement to the max. All those savings are going to just sit in the bank if you’re not fit and well enough to get out and about and do different things.
Try to keep your weight in check, quit smoking, drink in moderation, practice yoga, and meditation, or pick up a new sport.
Eat Healthily
When you eat healthily, you’ll be providing your body with the vitamins and minerals required to stay healthy and avoid illness.
Healthy meals should include:
- Lean proteins such as beans, eggs, seafood, and lean meats
- Vegetables and fruits in a range of colours including orange, green, purple, and red
- Whole grains such as whole wheat pasta and brown rice
- Low-fat dairy including milk and its alternatives
Choose foods that are high in fibre, low in sodium and salt, and foods that aren’t processed. Foods that contain Vitamin D are also important.
Stay Connected
As people get older, they tend to drift apart, get busy with their own lives, or move on. A common problem for seniors is isolation. There is something you can do to stop this from happening, such as keeping in touch with all your family and friends.
Be as socially active as you can be and try to find ways you can widen your social circle. Check whether there are any clubs you can join in your locality. Perhaps you could head to college and learn something new.
Plan for Impairment and Death
If you haven’t already written your will, there’s no time like the present to write one. In your will, you’ll be able to let your family know about any advance decisions.
An advance decision lets your family, carers, and health professionals know your wishes about refusing treatment should you be unable to communicate or make such decisions about yourself.
Get Rid of Your Debt As Quickly As Possible
One of the last things you want to be worried about as you get older is how much and to whom you owe money. You should seriously consider clearing all your debt right now, rather than leaving it till later.
Make Your Home Safe and Convenient
As you get older, your needs are going to change. What you’re going to need in your home will be very different from your needs when you were in your 20s.
Some changes you’ll need to make include:
- Make sure all carpets are firmly fixed to the floor
- Replace handles with more comfortable ones to use
- Install grab bars in the bath or shower and near toilets
- Install a ramp with handrails to the front door
- Place no-slip strips on tile and wood floors or surfaces that may get wet
- Place light switched at the bottom and top of the stairs
- Use night lights
Create a Funeral Expenses Plan
Funeral expenses can be very expensive and if you don’t want your loved ones to foot that bill you need to have a plan. One very smart option is to take out a funeral plan. That way, the basic cost of your funeral will be covered. In addition, you can decide on the details of your funeral ahead of time.
Set Up a Retirement Plan
You can’t predict what the future will hold for you, so be sure to make a retirement plan. If you want to maintain a certain standard of living, you need to start saving up a certain amount of money. In addition, set up a savings account and pay into it regularly.
You know what to do if you want to be independent in your old age. Prepare well in advance and you get to enjoy a peaceful retirement. To enjoy your old age to the fullest, it’s important to be financially, mentally, and physically fit.
