As Canadians age, transition and live in retirement, taking control of their health and wealth is critical. Balance Finances and Control leads to ensuring success and quality of life in the later stages of life. Many of us are trying to figure out what we want to do in the next stage of our life. Some of us are about to retire or have retired. Still, others retired from their long-term careers. But are working on a part-time basis or on a contract basis at various jobs.
They call this semi-retirement. Since they have not stopped working yet they have retired from their career jobs. This transition, regardless of what you chose to do or how you plan it needs to be thought out carefully. Take into account your family needs as well as your personal needs. This includes financial health, but also your physical health as well.
Balance Finances – Also Your Health
“There are three major aspects of your physical health that deteriorate with age – your strength, endurance, and flexibility and let’s not forget your cognitive abilities as well. Declines in these areas can lead to loss of quality of life and disability that may increase with aging. Many people can significantly slow down the decline in each of these factors by taking control of their lifestyle. So you have to pay attention to your finances to make sure you have enough to live on, but you also must pay attention to your overall health as well.
Many Canadians are allowing their physical capabilities to decline at a higher rate than what is attributable to the result of aging. Staying active, strengthens the heart, the lungs, and the muscles and keeps strong blood flow to the brain. Even if you go for a brisk walk daily, this can make a huge difference in your cardio levels and extend your life by years.
Some age-associated changes are within one’s control and can be slowed by staying active and making small lifestyle changes. An increase in physical activity at any age is known to reduce age-dependent declines in fitness and can help prevent diseases that are normally associated with aging.Â Diet is also important as well. Eating well, without overeating and maintaining the weight for your body type is important. Overweight people tend to age more quickly so maintaining proper weight levels, exercising regularly as well will help you maintain your health.
Balance Finances – Your Wealth as Well
Paying attention to your finances is equally important. The many demands of life can make it difficult to take full advantage of the power of saving and investing money over the long-term. While consumers may be tempted to ignore the details and deal with retirement financial challenges as they arise, a successful retirement can be attained by taking a few simple steps to determine in advance if their financial capital is adequate. Do the same with your overall health as well and take steps to prolong your life.
The key to a successful retirement isn’t about setting a plan in motion; it’s about building a plan that is dynamic and holistic so as your life changes and your health changes, your financial plan evolves and preserves your money in a way that fits your lifestyle. Much like physical health, action must be taken to maintain strength, endurance, and flexibility in one’s financial health. It is the combination of control over one’s health and finances that leads to a balanced retirement.
Stay on Track
Stay on track and build a plan today. Follow these simple steps to a successful retirement.
- Write down your plan. Writing down your physical and financial goals helps you clarify them and gives you something to work towards.
- Assess your progress. On a quarterly, semi-annual or annual basis, step back and see whether you have achieved the goals that you set for yourself.
- Make modifications, as needed. A plan is flexible and can evolve as your needs change.
You are the only one who can really take control of your health and your financial plan. Talk to experts to help you fine tune your plan for exercise as well as to save sufficient money for your retirement. However do not follow advice blindly, make your own decisions and remember:
- If it sounds too good to be true, it probably is
- Never put all of your eggs in one basket, diversify
Please leave comments on your plans and how our readers can benefit from your ideas as well.