Retirement
After we have completed an eventful and hopefully meaningful working life, retirement is the next step for us, usually after many years of working. This marks a decisive phase in life. Retirement generally not only involves leaving the world of full-time work but can also be accompanied by new emotional and financial opportunities and, above all, challenges.
Around retirement, it is particularly important to deal with money management issues. Unfortunately, reduced income and, quite often, rising health-care costs can lead to financial bottlenecks. If we budget our income and expenditure sensibly and use financial services smartly (including digital services), this can help us ensure our financial security. And it can also help us protect ourselves against potential fraud. Often, retirement also involves coping with changes in our families and in our circle of friends. Children moving out, grandchildren being added to the family, losing a partner – all these events have a profound emotional and financial impact. That is the reason why it is important to focus on financial planning and security. This lifestage can be a very enjoyable one and it may give us the opportunity. These could be that we might have more time to focus on our family or on other leisure activities and also to spend more time to think about any financial decisions that might be associated with the stage in life.
