Setting yourself up for a stress-free retirement | 5 tips to make your retired time more worth while

Aug 30, 2021, 11:13 AM
Stress-free retirement...
Photo: Adobe Stock

Teton Wealth GroupThis article about your stress-free retirement is presented by Teton Wealth Group. Take their retirement mistakes quiz to see where you stand.

You know you need a retirement plan and an income plan. What about a plan for happiness?

There isn’t a guarantee you will have a stress-free retirement, but here are some tips on creating happiness in retirement. You could call it a “happiness plan”. It has three components; money, health, and relationships.

For a stress-free retirement start by tying up any financial loose ends

stress-free retirement

Photo: Adobe Stock

Many retirees have a strong desire to have their house paid off before retirement. It’s not always the most mathematically sound decision. But if it lets you relax and enjoy your retirement, then it may be worth it.

It’s best to pay off any and all debt before retiring. That could mean delaying the big day for a year or two. Paying off debt could help you delay taking Social Security to help get you a bigger monthly check. This is one case where your patience could really pay off. That could certainly add to your happy plan.

Eliminate the fear of running out of money

Stress-free retirement

Photo: Adobe Stock

That is what most retirees fear most. Running out of money before running out of life. The right advisor can help you achieve success here and potentially add to your happy plan. The right withdrawal strategy for starters. An annuity may be one option. Life insurance is worth having a discussion about. Again your advisor can help you maximize your portfolio to ensure it will last all the way through retirement.


Stress-free retirement

Photo: Adobe Stock

Not only will downsizing save you money and help your funds to last longer in retirement, but it may actually make you happier depending on the lifestyle you prefer.

Moving from a high-tax city or state to a place where taxes are lower is one way to have an immediate impact. Experts say consider all the taxes including income, property, sales tax even inheritance tax. One caveat is you must live there for at least six months and one day per year.

Build in a buffer

Stress free retirement

Photo: Adobe Stock

You should create a financial plan for retirement that accounts for how much money you will need each month and where that money will come from, including a clear-cut withdrawal strategy to avoid running out of money.

To mitigate any potential worries, you should also build a buffer into this financial plan that would cover any expenses outside of the anticipated monthly expenses. Try for 10%.

Meet with a financial advisor

financial advisor - stress free retirement

Photo: Adobe Stock

You don’t have to come up with a “happy plan” on your own. Your advisor can work with you to achieve your retirement goals. Deciding to work with qualified advisors like the Teton Wealth Group advisors can help prepare you for retirement.

Every family working toward retirement needs an Ascent Plan. Click here for a complimentary Ascent Plan from Teton Wealth Group today. Or take their retirement mistakes quiz to see where you stand.

Related articles:

Today’s Top Stories

Teton Wealth Group

How much retirement savings should I have...
Teton Wealth

How much retirement savings should I have? | 7 retirement tips if you are late to the retirement savings game

How much retirement savings should I have? Here are 7 retirement tips for anyone who is getting a late start to retirement savings.
8 months ago
retirement accounts - retirement account types...
Teton Wealth Group

For the new year boost your retirement accounts with these 10 simple tips

The new year and resolutions go hand in hand. Here are some ways to give your retirement accounts a financial boost in the new year.
9 months ago
prepare for retirement checklist...
Teton Wealth Group

Your prepare for retirement checklist | 6 things you can do now to prepare for your retirement

Your prepare for retirement checklist should include what you can do right now to prepare for the changes that retirement will bring.
11 months ago
How to pick a financial advisor...

How to pick a financial advisor | What questions do you need to ask to make sure you are getting the best advice?

Do you know how to pick a financial advisor? Here are 10 questions you should ask your potential financial advisor before you hire them.
11 months ago
recession in the US...
Teton Wealth Group

How the 2020 recession in the US is affecting Americans in 2021 and into the future – don’t worry though, there’s good news.

How the 2020 recession in the US is affecting Americans. Here are some recession facts that everyone should know.
1 year ago
retirement mistake - Retirement mistakes boomers should avoid...
Eric Openshaw

Are you making these retirement mistakes? Rookie retirement mistakes and how you can avoid them

There are some retirement mistakes that you can avoid early on. That way you can actually enjoy your retirement to it's fullest!
1 year ago

Sponsored Articles

Young woman receiving laser treatment...
Form Spa

How facial plastic surgery and skincare are joining forces

Facial plastic surgery is not only about looking good but about feeling good too. The medical team at Form Spa are trained to help you reach your aesthetic outcomes through surgery and through skincare and dermatology, too.
large group of friends tohether in a park having fun...
BYU MBA at the Marriott School of Business

What differentiates BYU’s MBA program from other MBA programs

Commitment to service is at the heart of BYU’s MBA program, which makes it stand out among other MBA programs across the country.
a worker with a drill in an orange helmet installs a door in the house...
Price's Guaranteed Doors

Home improvement tip: Increase the value of your home by weatherproofing doors

Make sure your home is comfortable before the winter! Seasonal maintenance keeps your home up to date. Read our tips on weatherproofing doors.
Curb Appeal...
Price's Guaranteed Doors

How to have the best of both worlds for your house | Home security and curb appeal

Protect your home and improve its curb appeal with the latest security solutions like beautiful garage doors and increased security systems.
A paper reading IRS, internal revenue service is pictured...
Jordan Wilcox

The best strategies for dealing with IRS tax harassment | You have options!

Learn how to deal with IRS tax harassment. This guide will teach you how to stop IRS phone calls and letters, and how to handle an IRS audit.
spend a day at Bear Lake...
Bear Lake Convention and Visitors Bureau

You’ll love spending the day at Bear Lake | How to spend a day at Bear Lake

Bear Lake is a place that needs to be experienced. Spend a day at Bear Lake.
Setting yourself up for a stress-free retirement | 5 tips to make your retired time more worth while