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    RETIREMENT

    Dreaming of your new daily life - retirement planning

    Last Updated On 19-05-2016

    Financial security is a key component of a happy retirement, but how you choose to spend your daily life throughout retirement is critical as well. Retirement can mean different things to different people. Some look forward to pursuing new interests, while others want time to relax. Whatever your future holds, one thing is certain - a secure retirement requires thought and careful financial planning, and it’s never too early to start.

    As you begin to think about your retirement planning, take the time to consider some important questions.

    • What issues, interests and causes are you passionate about? 
    • Where and how do you want to contribute? 
    • What will be your legacy?
    • Do you want an early retirement?

    Retirement can be a time to discover new and creative outlets and passions, and do the things you never had time to do while you were working. On the other hand, you may choose to work full-time, part- time, as a consultant, or on a volunteer basis. Many people work in retirement to keep their benefits, maintain a stream of income, or simply because they enjoy working. Retirement planning is a time to consider all options that will bring you fulfilment.

    Many newly retired also embrace the opportunity to return to the classroom, to find new skills or discover new talents. After a time of learning and exploration, some experience a renewed desire to work and pursue new opportunities and challenges. Some start their own business, and others take on an ‘encore career’ – one that makes good use of your well-developed skills and talents, and provides you with the opportunity to apply them in a new setting that has a social impact, or makes a difference. If, for example, you worked in the corporate world, you may want to use your skills in the non-profit world. 

    You might also consider a learning experience combined with the adventure of travel. Many people who choose an early retirement often feel the need to be physically involved and challenged, as the total absence of activities can leave an instant void in someone’s life, especially after having worked for several decades.
    When you leave the working world and turn your attention toward family, friends and hobbies, the desire to contribute in a meaningful way becomes a priority. Volunteering is a great way for you to stay involved and make a contribution. The right volunteer work or community service can provide you with an opportunity to make new friends, gain recognition for your contributions and add more structure to your days.

    This new phase of life should be seen as an adventure and a time to reinvent yourself. Financial planning and transitioning can take time, and involves testing out different pastimes, jobs and projects. Getting support from peers and loved ones in your life will take on a special significance as you begin to sort out all of your choices. The shift to retirement can be a welcome change of pace and yet it can be challenging to create enough structure to find a sense of satisfaction. Take a realistic look ahead and plan carefully to help achieve your retirement goals, no matter if with a community service, a new business venture, or an entirely new undertaking. 

    Ideas for Retirement

    • Involvement in a non-profit or community service 
    • Starting a new business 
    • Discovering new creative hobbies, such as painting 
    • Travelling 
    • Spending quality time with family and friends

    Books

    Something to Live For: Finding Your Way in the Second Half of Life
    Richard Leider and David Shapiro
    Publisher: Berrett-Koehler Publishers, July 2008

    The Wall Street Journal Complete Retirement Guidebook: How to Plan It, Live It and Enjoy It
    Glen Ruffenach and Kelly Greene
    Publisher: Three Rivers Press, June 2007

    Disclaimer:

    The aforesaid article presents the view or an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ before making any decision.

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    As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at claimshelpdesk@pnbmetlife.com or indiaservice@pnbmetlife.co.in. You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.

    PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

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