It is important to work on your financial goals before you retire. [Photo/ shoppersweekly.com]
Life after retirement is not easy for poor planners. There are many people living in abject poverty because they never made the right decisions in life before they retired. It is important to work on your financial goals before you retire. Most people keep asking when the right time to start investing is. Well, you should start investing right away. Do not wait until it is too late because you never know what is likely to happen along the way. Here are five things you should do before you retire.1. Boost your cash reservesDo you have cash reserves? A smart person keeps some cash somewhere in order to avoid the struggle of looking for money to pay bills after retirement. Make sure you have several cash reserves so that you can live comfortably. The cash reserves must be secure so that you do not end up broke after years of working hard.2. Anticipate your healthcare costAs you become older, the body also becomes weaker. One of the most important areas that require attention before retirement is your healthcare cost. Most retirees find themselves in a tight situation because they never reserved anything for their medical care. This is where you need to think about health insurance policies. 3. Educate your children Education is the best investment you can give your kids. Make sure your children have the right academic qualifications before you retire. Taking children to school relieves you the burden of assisting them when you retire. The children can also come to your rescue if life becomes tough on your side. 4. Revaluate your sources income With the hard economic times, a single source of income is not enough. You need to find different sources of income if you want to retire well. Create multiple sources of income including livestock farming, real estate, and stock market trade for the sake of your future.