Ideally, you’ll start planning and saving for retirement decades before you actually retire. And during retirement, you’ll need to think carefully about how you manage your finances and how you take care of yourself to ensure you don’t outlive your savings. But what should you be doing in the five years or so before you retire, to make sure your retirement is a successful, financially bountiful, comfortable one?
1. Set the Right Mindset
Before anything else, it’s important to set the right mindset. Preparing for retirement in the five years before you formally retire is all about balance.First, you need to think about the balance between living life the way you always have and living life in retirement; these are two drastically different lifestyles, and if you’re smart, you’ll attempt a gradual transition from the former to the latter. The smoother and more controlled your transition is, the less disruptive it’s going to be and the more successful your retirement will be.
