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International Day of Older Persons: How to Thrive in Your 60s and Beyond

Global, October 1, 2015

With life expectancy at a record high - 79 in the US, 81 in the UK - you may have longer than planned to complete your bucket list. Today's International Day of Older Persons, is a great opportunity to reflect on your golden years.

Retired man enjoys his hobbiesAccording to Aegon's 2015 Retirement Readiness Survey traveling the world, pursuing a hobby you're passionate about, or spending time with loved ones, are all high on our retirement wish list.

5 things you can do to make sure you're a mover and shaker in your 60s and beyond

 

Preparing financially now, will help you set the foundation for a fulfilling retirement, so here are five things you can do to make sure you're a mover and shaker in your 60s and beyond:

Develop good saving habits

Establishing good saving habits early on will set the stage for well-being in your later years. But it's never too late to start saving for retirement – most countries offer significant tax breaks to encourage you. Steer yourself onto the right track by having a budget and examining areas where you can cut your spending.

Transamerica, our popular brand in the US, has prepared an excellent guide to budgeting here >

Have a balanced portfolio

Having a balanced portfolio will help you stay diversified. Learning the basics about different types of investments such as mutual funds, stocks, and bonds, and aligning them to a target date can help you come up with a sound financial strategy.

Take a look at the educational videos Aegon has produced around the world to help get you started >

Get creative with funding your retirement

As you may be living longer than previous generations, it's important to explore different ways on how to best prepare for retirement. You could start a side project to make extra money now or plan to work part-time during your later years to stay financially afloat. Talking to a retirement specialist can help you come up with a game plan and see the bigger picture.

Protect your family

Your family's well-being is essential in enabling you in as an older person. A great way to make sure your family is protected is to have life insurance. Spend some time exploring your options to figure out which policy is the best fit for your needs. If you currently have a policy, review it periodically to see if it needs updating.

By envisioning how you would like to spend your retirement now, you can take small steps to turn it into a reality. So take a moment out of your busy working life today, International Day of Older Persons, to think about your future. These few minutes could be the best investment you ever make.

Written by: Aegon