Technology is Helping People Retire Sooner Than They Thought

Two red chairs on the beach

It’s no secret that technology has drastically changed how we live and work. But did you know that it’s also changing the way people retire? Thanks to advances in healthcare and communications, more and more people are finding themselves able to retire earlier than they ever thought possible. That’s why more and more of the previous generation are retiring today. Here’s a look at how technology is helping people retire sooner than they thought.

Prolonging Life Expectancy

One of the most significant factors in retirement planning is life expectancy. The longer you live, the longer you’ll need your retirement savings to last. Fortunately, thanks to advances in healthcare, people are living longer than ever. In fact, according to the World Health Organization, the global life expectancy at birth increased by five years between 2000 and 2015. And it’s only expected to continue to grow in the years to come. This means that people will be able to enjoy a longer retirement than ever before.

Easier to Stay Connected

In the past, one of the biggest concerns for retirees was staying connected with their loved ones. But thanks to technology, that’s no longer a problem. With video chat applications like Skype and FaceTime, it’s easy to keep in touch with family and friends no matter where you are. And with social media platforms like Facebook and Instagram, it’s easy to stay up-to-date on what’s going on in your loved ones’ lives. This means that retirees can easily stay connected with their loved ones no matter where they are.

New Opportunities For Retirees

Just because you’re retired doesn’t mean you have to stop working altogether. Thanks to technology, retirees have more opportunities than ever to stay active and engaged in the workforce. For example, many retirees choose to start their businesses or become consultants in their fields of expertise. Others are choosing to work part-time or freelance to have more flexibility in their schedule. And still, others are using technology to volunteer their time and skills to causes they’re passionate about. Thanks to technology, no matter your interests or skillset, there’s sure to be an opportunity out there for you.

Technology has drastically changed the way people live and work—and that includes the way we retire. Thanks to advances in healthcare and communications, more and more people are finding themselves able to retire earlier than they ever thought possible. Additionally, technology can even prepare you for your very own retirement! Here are ways you can do that.

Seniors happily retired

Online Retirement Planning

Retirement planning is an essential part of ensuring a successful retirement. Fortunately, thanks to advances in online retirement planning services, it’s never been easier to plan for your future. These services can help you assess your current financial situation and create a realistic plan for where you want to be. For the self-employed, they can check retirement plans for self-employed online. These plans can cover all sorts of things, from 401(k)s to IRAs. So whether you’re just starting to think about retirement or are already well on your way, online retirement planning services can help you achieve the future of your dreams.

Budgeting Apps To Stay On Track

Budgeting is essential to retirement planning, but it can be tough to stay disciplined when it comes to spending. That’s where budgeting apps come in handy. These apps help track your spending, set limits, and see where to cut back to save more for retirement. Mint and You Need a Budget are popular options, but dozens more are available, so take your pick!

Online Financial News

It’s crucial to stay up-to-date on changes in the financial world, as they can significantly impact your retirement plans. Luckily, there are plenty of ways to do this without wading through pages of boring news articles. Financial news sites like The Motley Fool and CNBC Make It offers short, digestible articles that keep you in the loop without wasting your time. And if you prefer to get your news from an app, Yahoo Finance and Bloomberg are both excellent choices.

Track Your Progress Online

In the past, people had to rely on paper statements and spreadsheets to keep track of their retirement savings. But now, several online tools make it easy to see how much you’ve saved, how your investments are performing, and what you need to do to reach your retirement goals. Some employers even offer retirement planning tools on their websites, so check there first. If not, a quick Google search will turn up plenty of options.

Retirement is a significant milestone in anyone’s life, and it can be even more special when you’re prepared for it. Thanks to technology, it has never been easier to plan for retirement or stay engaged in your local community after you retire. So whether you start a business post-retirement or want to learn more about what’s happening around you, use technology to your advantage and enjoy a fulfilling retirement.

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