The modern retirement age is shifting and changing the way many are planning for retirement. While the vision may be similar, the average retirement age is gradually increasing from 65 to 67 years old for those born after 1959, and your options are different. 

With communities, like HarborChase Senior Living, redefining retirement and providing luxurious services and amenities, it may be time to adjust your retirement plans. If you’re looking for a few tips to start your retirement planning, HarborChase is here to help!

Knowing Your Benefits

Your benefits can vary based on your age of retirement, your income, and a few other things. If you need help calculating your benefits, you can go to the official Social Security website and calculate your retirement benefits. 

Understanding Your Budget

Understanding your budget is one of the most vital components of your retirement planning. While your benefits may vary, so can your budget. The modern retirement age is a bit different and may require you to shift your preparation up a little bit. If possible, the first step to a proper retirement would be to pay off any outstanding debts. Entering your retirement, you should be free of credit card debt, loan debt, and a mortgage. 

If your retirement plan involves you staying at home, you should answer a few questions:

1. Is your house paid off?
2. What condition is your home in?
3. Is your home as lively as it once was/as much as you need it to be?

While you may be able to afford to stay at home now, routine home maintenance and upkeep may hurt your retirement plans in the long run. Also, most seniors living at home don’t have access to the luxurious amenities that are offered at senior living communities, like HarborChase. Don’t be caught off guard by unnecessary obstacles during your retirement. HarborChase senior living communities maintain our beautiful housing and give you the relaxation years you deserve!

Shaping Your Retirement

Once you have your finances and budget in order and know your retirement benefits, it’s time to shape what your retirement will look like. While planning your actual retirement may seem easy, you will have to answer a few more questions to determine your ideal retirement:

• What type of senior living care is best for (now or in the future)?
• Where (city/state) do I see myself retiring?
• What age do I want to retire?
• Are my needs (social, physical, mental, etc.) being met at my home?

Answering these questions can help you rule out some possibilities, and narrow down what you’re hoping for in your retirement years.

Preparing to Retire

If you’ve answered all the questions in this blog, odds are you have a clearer picture of how you want your retirement to look. While there may be a few more things to consider, you have taken a few steps in the right direction!

Retirement planning can be a hard task, but it doesn’t have to be. If you know your budget and are seeking to live out your retirement at a lively and comfortable senior living community, HarborChase Senior Living could be the ideal choice for you. Our senior living communities located throughout Florida, Texas, South Carolina, Tennessee, and more, give you a vibrant and luxurious retirement that you have earned! If you’re interested in a grand lifestyle, with an active community, look no further than HarborChase. Retirement doesn’t have to be the end of adventure, find your ideal HarborChase community today, and start celebrating senior living!