Retirement isn’t akin to parking gently and hanging up the keys. Instead, as we are living longer and spend more time retired, the period lets us move to the left lane and proudly rev the engine. Yet, retirement remains a significant source of tension for older people. Let’s do our part to reduce that a little with a few sound recommendations.

Reduce Risk

This should happen later in life. As your retirement date nears, it pays to invest more conservatively than in the past. Look to invest less aggressively and maintain a better balance between stocks and bonds.

Max Out

While you’re still working, make maximum contributions to your 401(k) annually. Make sure you are putting in at least as much as your employer to ensure the process is worthwhile.

Beneficial Delays

It can really pay off to delay your social security benefits until at least retirement age. Benefits rise significantly every year you choose to defer. That really adds up when settling into retirement.

Keep Working

This comes with a caveat. Those that continue working beyond retirement age are often happier with their lives. However, they are the same group that stay employed out of choice rather than necessity. That’s a big factor into one’s disposition. Remaining in the workforce tends to have a positive impact not just on your happiness, but on your health too.

Are you ready for retirement? Even if you’re not, we’d like to hear your thoughts. Share your feedback directly on our Facebook and Twitter pages.