How will I spend my time? Where will I live? How much money will I have and how much will I need? What do I want to do with the rest of my life?
These are some of the many questions you might ask yourself when you start thinking about retirement. Because this is unfamiliar territory you may need a guide to help you navigate through this new terrain.
David Welsh, development consultant at the Schonenberg Retirement Village in Somerset West offers some tips:
Planning in advance for your retirement can save you a great of deal of stress, and can also provide financial security. In addition to putting money aside and investing in retirement annuities, you can invest in your future by buying a retirement property ahead of time.
“Buying a retirement property, especially in a developing estate, has a number of benefits in addition to merely securing a home for your golden years. Many people who buy these properties rent them out until they are in a position to take occupation. This gives them the choice of the best positions in the estate and allows the estate to mature before they move in. Also, these properties appreciate in value over time, especially once waiting lists build up, which means a healthy return on investment.”
The news is full of stories about how older people are seen as soft-targets for criminals, and with South Africa’s soaring crime rates, security is an unquestionable necessity.
“People need to feel safe in their own homes and the environment they live in,” says Welsh. “Whether you are planning to retire in your current home, a new home or in a retirement complex it is vital that you have adequate measures in place to keep yourself safe. A number of retirement communities offer security systems but ideally they should provide things like surveillance cameras, electric fencing, guards and emergency response systems to ensure the safety of their residents.”
As people get older they usually become more susceptible to illnesses such as arthritis, strokes, osteoporosis and Alzheimer’s disease. Also, the risk of bone-breaking falls increases with age. Welsh suggests that in order to prepare for these eventualities, retired people should look into retirement properties equipped with medical and frail care facilities that can care for them when they cannot.
After working hard for many years, your retirement should be a time for relaxation and socialising with your friends and family. It is a good idea to look into retirement while you are still active and can socialise more, as opposed to when sickness or other dire circumstances force you into a retirement community that you will barely enjoy.
“Humans need relationships with others so it’s a good idea for retired people and their spouses to consider living in a retirement community early,” says Welsh.
“As you shop around for your new home, it is advisable to look for estates that are close to places such as beaches, shopping centres or walking paths that interlink with other estates allowing you to mingle with a wide spectrum of people living in and around the estate. A retirement community in such a set up creates great opportunities for people to form friendships with other, like-minded people and allows for a cross-pollination of different age groups as well.”
Schonenberg Retirement Village is part of the broader Schonenberg Estate, which is close to the Waterstone Shopping Centre, beaches, wine estates and golf courses. Welsh says residents enjoy having their children and grandkids living nearby.
“Retirement should be a time where you can enjoy the rewards of a lifetime of hard work and if you are adequately prepared for the realities you could face, you’ll be able to enjoy it all the more. This is the beginning of a whole new chapter in your life. Choose to retire in a location that gives you the peace of mind of knowing that all your needs will be taken care of, and where you can enjoy your surroundings”, says Welsh.
Call 021 852 0821, email retirement@schonenberg.co.za, or visit www.schonenbergvillage.co.za.
