How To Retire...
Create a steady income by investing a portion of a 401(K) or savings in an income annuity, which pays you a guaranteed income as long as you live.
This plan of annuities and having a monthly check for life helps you to have the cash for unexpected expenses. Further research is needed before obtaining annuities to make sure they are from a reputable financial company.
Staying active increases your ability to enjoy retirement.
Volunteering up to 200 hours a year was enough to satisfy this retiree's feeling of usefulness. But this positive effect disappeared at 500 hours of volunteer service. So don't overdo on the volunteering. If it becomes a chore, you're doing too much.
If at all possible, try to control your timing for retirement. We can't control being forced into retirement by ill health, disability, or company downsizing. This accounts for 75 percent of involuntary retirements.
It pays for us to plan for such an occurrence. We can pay for health insurance coverage while we are in a healthier condition, because many companies will not cover pre-existing conditions as we get older.