It’s likely you’ve thought a lot about how you’ll spend your time during the so-called golden years. Whether your plans include working part-time, more travel, more time with family or friends, or investing in a new hobby, you’ll want to be financially prepared.

Here are our top five tips for setting yourself up for a satisfying, fulfilling retirement.

#1: Define a clear vision

You already know that daydreaming about life in retirement isn’t enough. You’ll want to create a formal, written vision of what you would like your days and years to look like when you’re in retirement age. Even if it’s subject to change (because what in life isn’t?), it’s important to get it in writing.

Your wealth manager will rely on your retirement vision to create your financial plan. Having a solid understanding of your retirement aspirations will be a guiding light in shaping your investment strategy today for the retirement life you want in the future.

#2: Prepare for “what ifs”

It can be hard to prepare for every contingency from a financial perspective (COVID-19 has been a good lesson in that). However, in addition to considering where you’d like to travel and how much you anticipate spending on hobbies, it’s key to have an emergency fund for everything from health care to unexpected home repairs.

You can also count on, and should be financially ready for, inflation. While we haven’t been in a period of inflation for many years, that may change, meaning you’ll need more money in your retirement accounts to achieve that vision we covered in the first tip.

#3: Take care of your health now

Want to spend more time perfecting your golf game in retirement, or mountain biking with your adult kids? Maybe it’s enough for you to be physically able to pick grandkids up off the floor, or even just walk comfortably over cobblestone roads in that ancient city you’ve always wanted to visit.

Whatever your goals, now is the time to care for your health — physical and mental — so you can achieve them. And while there are never any health guarantees, you may not need to spend as much on medical care in retirement if you do a good job caring for your health today.

#4: Don’t forget your legacy

Retirement can be totally about you, but many retirees want to make sure that there are funds left over for family and causes that are important to them. What would you like to leave to family members? Are there organizations you want to give time or money to in retirement and after you’re gone? If you own a business, how will succession figure into your planning?

Your financial advisor can help you structure your finances to ensure you’re able to leave the kind of financial legacy you want to leave. We can even help with small business succession planning here at Ironwood Wealth Management.

#5: Work with a wealth manager

Having a trusted financial professional in your court is one of the best ways to ensure you’re financially prepared to live the retirement lifestyle of your dreams. Here at Ironwood Wealth Management, we take a personalized, relationship-based approach to preparing your financial plan.

Planning your retirement can be a scary thing, but if you’re prepared and have a trusted financial professional on your side, you’ll experience a smoother transition and greater peace of mind.

Interested in learning more about how to prepare for the retirement lifestyle you want? Get started with a call to Ironwood Wealth Management today.