Retirement is a time when you should enjoy the fruits of your labor. It's a time to relax not just two days a week but for the rest of your life. A healthy financial retirement account is a major force in your ability to enjoy your retirement more fully.
Your house could derail your best
With a healthy financial retirement account, you could travel to one to two countries a year, finally indulging your desire to explore the world and get out and immerse yourself in other cultures. You'd be able to give your adult children and grandchildren money to help start businesses or broaden their education.
If your health is good, the sky is the limit. There is just one thing that could derail your chance to settle into a life of exploration, excitement, relaxation and fun. That one thing is the place where you head to lay your burdens down.
It's the place where you go to get away from the stressors of your day. This treasure trove is your home, the very place that could cost you dearly just a few years into your retirement. If hidden problems exist in your house, wiring and plumbing issues that are hidden behind your house walls, you could think that you're ready to live off of a smaller income when that's not actually the case.
How to avoid house repair surprises after you retire
Although surprises happen, regardless of how hard you work to inspect and replace household appliances and parts, there are things that you can do to avoid having to spend thousands of dollars on house repairs after you retire. Among house repair safeguards that you can make before you retire are:
- Replace old roof tiles. Good roof tiles should last for about 12 years. By replacing tiles after they start to curl or discolor, you could extend the life of your roof.
- Install new floor tiles that are expected to last for 50 years. It's these type of floor tiles that could let you enjoy a beautiful floor throughout your entire retirement.
- Paint the interior and the exterior of your home. To keep the exterior of your house in good shape, you could also install vinyl siding on your house.
- Consider replacing carpet with long lasting floor tiles, as good floor tiles generally last longer than carpet.
- Reseal window edges. Also, seal doors. These two steps can lower your utility bills.
- Purchase new house furniture if your current furniture is worn. Do this several years before you plan to retire.
Other items to check off before you retire are your household appliances. Replace more expensive appliances before you retire, as you could replace less expensive appliances with money from your retirement income.
The goal is to set yourself up to enjoy a financially stress free retirement. Achieve this goal, and you may sleep a lot better at night. It definitely beats worrying about how you're going to pay your bills night after night.