When the time comes to retire from the daily toil of going to work, most people hope to be able to enjoy some well deserved time to relax and really enjoy life. However, more and more of us are failing to make any plans for our retirement, which means that the prospect of a comfortable retirement slips further and further from our reach.


There are a number of ways in which you can forward plan to boost your chances of a more comfortable retirement, which includes:

Review your funds

These days, it is not just enough to have a pension in place – you also need to make sure you regularly review your pension or other retirement funds in order to ensure you stay on track. Remember, the cost of living is rising all the time and if you fail to review your retirement pot you could find that your money fails to stretch as far as you hoped when you leave work.

Assess what you owe

Ideally, by the time you retire you want to be free of the burden of debt, which includes any mortgage debt you have. Being debt free by the time you retire can take a huge burden off your shoulders. So in the years running up to your retirement age, make the effort to get rid of as much debt as possible. If you feel that you are struggling with debt, don’t be tempted to bury your head in the sand. Instead, discuss your situation with experts such as the counsellors at Consolidated Credit.

Think about downsizing

In the run up to your retirement, you may want to consider downsizing. For most people, by the time retirement comes around the kids have all flown the nest and they are left in a property that is far bigger than they actually need. If this is the case, consider selling up and buying a smaller property before or when you retire, as this could release a significant amount of equity that can go towards your retirement funds.

Make some plans

It can be difficult to know how much money you will need or what you will do with your time unless you make some plans for your retirement. Take some time to think about what you would like to do when you retire – for example, you can take that holiday of a lifetime you have always dreamt of. This way you will have some solid goals to aim for and plenty to look forward to.

Develop some hobbies

If you have been used to working all day every day for many years, it can be strange and sometimes a little boring to suddenly find yourself stuck at home all day. However, if you develop some hobbies or work on existing ones, you can enjoy keeping your mind and body busy doing things you enjoy. This could be anything from working on your garden to engaging in some arts and crafts. In fact, if you have a creative streak you could even sell some of your handiwork and make a little extra money from home.

Planning ahead for your retirement is not only about looking at your finances but it is also about looking at the bigger picture, such as how you will fill your time and how you can achieve your retirement goals.