If you are at least 30 years old right now, it is important for you to think of what lies ahead for your golden years and how you can adequately prepare for it. Some of the questions you can ponder include, where to live, who you will be living with, what happens in the event of illness, will you be working, how will you meet your needs, etc.

Some of the things to consider when planning for retirement include:

• Health

Be sure to take care of your body and mind now as you will need them later. Following health guidelines will hopefully help you to avoid getting hypertension, diabetes, heart or kidney disease. Make sure you know what your family history is so you know what you are susceptible to. Have a plan for late life health care.

• Daily Routines

What do you want your life to look like post retirement? Do you want to travel? Live between 2 countries? Spend your time gardening or at a social club? If you decide now, then you have any idea of what you will need. Doing crosswords, mental puzzles and reading can help to preserve your brain and keep it agile.

• Home

Speak with your banker about what you can do to ensure you are able to pay off your mortgage by your retirement date or even before. Not having a place to live with no fixed income can be problematic. You will also need to have some savings towards home repairs.

• Money

Are you saving towards an endowment retirement plan? Would your social security be enough for you to live off of? What are your expenses likely to be and are you making provisions to meet them. Remember the cost of living is likely to go up and your pension is likely to be less than your current salary so financial planning is a must.

• Livelihood

For most of us, we have strong genes and we often live way past the retirement age with some level of vitality. It is therefore not far-fetched to think that you can start a small business now, even for the weekends that can grow into a full-fledged enterprise after retirement. Consider that option.

• Family

The relationships you build now will likely be a source of love, support and comfort for you in your golden years so nurture them. For those with no partner or children, consider your need for companionship later on and for those with children, are you prepared to be an empty nester?

• Estate Planning

It is very important to ensure you have made provision for the handling of your estate. Do you have a will? Is there someone designated as a health proxy to make decisions for you in the event you can’t make it for yourself? How would you want your assets to be distributed after you have breathed your last breath.

Many of us do not like to consider our golden age, but we can age gracefully and comfortably, knowing we are taking care of ourselves and the essentials of life.

*Please note that individual and group retirement planning sessions are available at KN Consulting.