There is a difference in planning for retirement at a young age, where you set up retirement annuities and savings, to being prepared for retirement in your 50’s, where you start taking the necessary steps to physically set yourself up for retirement. Preparing for retirement in your 50’s becomes a matter of moving to where you would like to retire, finding your feet, forming new relationships and setting out a new lifestyle that you can become comfortable with by the time you are ready for retirement. When its time to retire, you’re not starting new, but simply adjusting your lifestyle slightly. Suzette Du Preez, Director of MyCare, the onsite care provider at Shoreline Sibaya, weighs in on the truths of aging and the benefits of planning ahead.
“You need not delay the planning of your retirement, it should start as early as possible. To understand the complexity of retirement you need to understand ageing and consider what it means,” says Du Preez.
“The truth of the matter is that our life expectancy is unstoppable, however, we can reveal that those who retire in 2030 will live around 15 years longer than those retiring now. Furthermore, in 1990 the expected stay at a retirement village was 15 years for 65-year-old retirees. In 2005 the expected stay raised to 18 years and today it’s up to 22 years! The question then becomes, what will you do with the extra years? Are you financially, emotionally and socially prepared?” Du Preez continues.
By truly understanding where you will be in the future, you are able to plan accordingly. For example, if you know you will be residing in KwaZulu-Natal, you can take the initiative to invest in an off-plan development such as Shoreline Sibaya; where you can benefit from not paying transfer fees and know your surroundings will adapt to how your life will change in the future. “Planning should be seen as an investment in independence,” says Du Preez.
In preparing for retirement, Suzette shares, “Think of life in abundance and forget about age and retirement; the answer is to change gears over time. Associate and mix with positive people of all ages, stay in touch with nature and enjoy the company of animals. Dr. Mitten’s Anti-ageing handbook supports this notion by talking about making early decisions in life to equip yourself with a wellness plan for retirement. Remember, the way you age will depend on nobody else but yourself.”