Following on the heels of several decades of hard work, retirement is supposed to be a season of rest, of relaxation, and of fun—with copious amounts of time spent on family and on various leisure activities. What derails many retirements is stress. A retirement that is marked by constant worry or anxiety is simply not going to be as enjoyable as it might have been otherwise—which is a major disappointment.

One of the primary things that retirees stress about is money. This is not without reason. It is a truly scary thing to think that your retirement might stretch out longer than your retirement savings. With that said, there are steps that you can take to ensure your retirement is not characterized by constant financial anxiety.

Make sure you have a plan. The best way to prevent against stress, of course, is just to make sure you have a plan in place—a plan for retirement savings and investment. Work out a plan of action with a certified advisor, and then trust that the plan will provide you with the foundation you need for a stable retirement. Having an actual retirement plan can eliminate much of the anxiety and uncertainty from your retired life.

Make sure you have a budget. You don’t just need a savings plan, but also a spending plan. This doesn’t necessarily mean you have to pinch pennies during your retirement, but you should have some basic idea of how much you can spend on day-to-day living.

Make changes as needed. You may decide one morning that you want to leave more money to your family, or to spend more money on travel. Don’t fret about it. Meet with your advisor and make the necessary changes to your retirement plan.

Eliminate your debt. Having debt hanging over your head can really put a damper on your retirement. Make it a priority to pay off the mortgage and all credit card debts before you retire.

Seek only the best financial advice. Finally, you could drive yourself to ridiculous levels of stress simply by watching the financial news and reading too many inflammatory blogs, day in and day out. Cut out the noise and instead focus on consistent communication with your financial advisor.

To learn more about how you can enjoy a retirement free of financial stress, we invite you to contact the Stonepath Wealth Management team today.