What are the four stages of retirement?

A four-phase model for retirement consists of pre-retirement (age 50 to 62 or so), the early period of retirement (62 to 70), middle retirement (70 to 80), and late retirement (80 and up).

What is the first step to retiring?

1. Step 1: Define Your Retirement.
2. Step 3: Evaluate Your Health — Now.
3. Step 4: Determine When to Collect Social Security.
4. Step 5: Network Through Social Media and Other Methods.
5. Step 6: Decide How Much You Want (or Need) to Work.
6. Step 7: Create a Retirement Budget.
7. Step 8: Find New Ways to Cut Your Expenses (Start Saving More)

What is the no go stage of retirement?

The No-Go Phase. The last phase in retirement is the no-go or limited retirement phase. In this stage, time and age play a significant role in slowing down activities and abilities. Sometimes this is mental, sometimes physical, sometimes financial or any combination of the three.

How much does the average retiree spend per month?

Despite the typical American having less than $100,000 for retirement, the average spending amount in retirement is surprisingly high. According to the Bureau of Labor Statistics data, “older households” – defined as those run by someone 65 and older – spend an average of $45,756 a year, or roughly $3,800 a month.

How to plan a successful retirement?

10 Secrets to a Successful Retirement 1 Find your passion, 2 Free fall creates a new freedom to be ourselves, 3 Create a success inventory, 4 You will see more opportunities when you prepare yourself to see them, 5 Push back against the limits you’ve set for yourself, 6 Embrace contradictions, 7 Add new tools to your belt, More

How can I find my passion for retirement?

1. Find your passion, recommends retirement blogger Dave Bernard. This is not always as simple as it sounds, however. You have to dig deep inside yourself to determine what excites your heart and soul. But once you discover your passion and decide to pursue it, Bernard says, you’ll have a reason to get out of bed every day.

How many life transitions will you experience in retirement?

In fact, sociologists have identified at least six separate “life transitions” that will affect most people as they move through their retirement life (which is why we say that retirement isn’t one long life phase). Perhaps the greatest transition of all is the one that you see each time you look in a mirror and see yourself change .

What changes can you expect in retirement?

There are life changes that you can expect in retirement;, both positive and challenging. In fact, sociologists have identified at least six separate “life transitions” that will affect most people as they move through their retirement life (which is why we say that retirement isn’t one long life phase).