When you retire, many things are going to change in your life, and it is important to be open about those changes. You also want to make sure that you talk with your children about a few important things that they should know about. Taking time to talk to your children when you retire can help you to both be on the same page so that you can enjoy your retirement with the support of your family.
End-of-Life Care
It’s not something that anyone wants to talk about, but taking time to discuss end of life care can be an important thing to do when you hit retirement age. By having this conversation early and repeating it occasionally, you can make sure that your family actually knows what you want if you were to become ill. It’s important to get your kids on the same page so that you know they will honor your wishes when you need them to.
Your Estate Plan
It’s so important that you talk to your kids about your estate plan when you reach your retirement years. This will help them to understand what your plans are, so that they aren’t surprised by them down the road. It’s also important that you prepare a legal will that you can share with your kids. If you don’t have a will, a probate court will decide what happens to your property. That could mean that it is used in ways that you aren’t in favor of, which could be detrimental to your family and your legacy.
Your Plans for Retirement
You also want to have a conversation with your kids about what you plan on your retirement looking like. That way they can have a better understanding of how you will be living your life and what you will be doing over the next several years. These plans can include where you’ll live, what kind of travel you will be doing, and how you see your family interactions going through your retirement. The more thorough you are in your plans, the easier it will be for everyone to picture your retirement.
It’s important to have the hard conversations and the fun ones as you enter retirement. Those talks with your children will help you all to get on the same page with one another. Once the conversations are over you can relax knowing that your plans are known and will be respected.
Check out this article on how to make sure you have enough for retirement!
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