31 Oct Retirement Content | Let Readers Retire with Courage
Retirement content often describes to be a time of leisure that we all look forward to after decades of hard work. Unfortunately, for many employees today the thought of retirement invokes more anxiety than thoughts of lounging by the beach.
Approximately 52 percent of workers say their biggest worry is outliving their retirement savings according to the 2017 Annual Transamerica Retirement Survey.
While that news may be scary, you can focus your retirement content on active steps so your readers who are retiring soon can do so confidence!
Step 1: Make a Move
Housing is often one of – if not the – biggest monthly bill. So, for big savings, you may want a change of scenery. If you live in the city, a move to the suburbs could cut your annual costs significantly. Residents of Chicago, for example, could save an average of $18,472 each year by choosing to live in the suburbs.
If you can’t part with your town, consider downsizing instead. Empty nesters don’t need to live in a three-bedroom house. Reduce your spending on a mortgage and utilities by downsizing to a one-bedroom home or apartment.
Step 2: Rework Your Budget
Retirement budget not adding up? Go back to the drawing board. Find places to cut back, such as entertainment or travel, and be sure to include savings for unexpected costs, like new medications or car repairs. As your needs change during retirement, so should your budget, so be prepared to be flexible.
Step 3: Work Part Time
Being retired doesn’t always mean stopping work completely. In fact, the majority of workers (56 percent) plan to continue working after retirement. Picking up a part-time gig can be helpful both for ensuring you live comfortably and keeping you busy, active and social.
Step 4: Talk to a Professional
Retiring is often a once-a-lifetime event, so most of us don’t have much experience with it. Luckily, there are experts who can help. A financial professional can be a crucial resource for determining the best way to spend your retirement savings. They are also great at helping keep you on track and provide reminders if your spending is getting out of hand.
Of course, the topic of saving for and spending during retirement is more complicated than a few simple tips in a blog post. That’s why Content That Works created its annual Retirement Guide.
Our 32-page magazine is chock full of retirement content, real advice from financial professionals, strategies for better spending and facts to help employees make smarter retirement choices.