Contract: Retirement Planning In Old Age

Retirement Planning in Old Age Name Institution CONTRACT: RETIREMENT PLANNING IN OLD AGE Student`s Signature Retirement Planning in Old Age Life is never static, as the years go by there is a natural tendency for our choices and preferences to change depending on what stage we are at in our lives. Most times people fail to make proper retirement plans and only realize they messed up when it is already too late. It is for this reason that I intend to make plans that will ensure I can take care of myself financially, emotionally and physically without any strain. To achieve this, I plan to continue working, get involved in community services and to show more family commitment in old age as a way of prolonging my life. This will be done keeping in mind other influences such as health, economics/finances, and gender. During old age, I plan to invest my time and energy on work. According to a study by Sewdas et al (2017), working beyond retirement not only helps one to maintain good health, acquire skills, and attain financial stability, but it also helps an individual find purpose in life. Given that in most cases old people are left in retirement homes where they do not do much in exploring new skills, I plan to actively involve myself in work to make my life more meaningful. My goal for the future is to be a toolmaker whereby I will make a variety and sell them to the community as a way of getting some finances and keeping myself occupied. I believe through work, I will lead a purposeful life in my old age.Apart from working, I also plan to get involved in community service. A study by Kahana, Bhatta, Lovegreen, Boaz and Midlarsky (2014) found that engaging in community service like volunteering at an old age contributed to an individual`s psychological well-being. In addition, people who engage in volunteering work in the community are generally noted to have a greater satisfaction in life. As a result, this leads to better health since one spends more time in the company of others hence bringing about that feeling of belonging. My plan is to spare some time when away from work and during the weekends to help around. One such way would be by taking care of the physically challenged in the community or giving free talks to the youths on diverse topics like drug and substance abuse, or offering career advice. None of the above will be possible without the support of the family, and therefore family commitment is a part of my plans for old age. It has long been established that parents can impact the lives of their children, or others around them. Committing to the family helps to create a protective cover around those involved (Nadine, Polina, Mili, and Dorian 2013). This is true for both the old and young whereby unfortunate incidences like suicides or depression can be prevented when family is involved. It is my plan to be actively involved in the lives of the younger ones in my old age by giving advice, guidance, and simply spending time with them. This will also ensure that I do not get lonely on my side which is essential for a longer lifespan. Three important factors will be considered in the process of pursuing these old age goals because they do influence the process in one way or another. These include finances, health and...