The truth about work is that it is something that we all do because we have to.  The reality is that we are all dreaming about the day that we can walk away from it all and retire wealthy.  The trick is how to do it!  If you want to live comfortably in your retirement then it is never to early to start planning.  The good news is that if you make good choices then you'll be living the good life before you know it.  You just have to plan for the life that you want.  Here are a few things to think about to get you started.

How Do You Want to Live?

The first thing to think about is the standard of living that you want to maintain.  If you are used to living a certain way and having a certain amount of money then your plans need to reflect that fact. 

Where Do You Want to Live?

Next, you want to decide where you want to live.  That big house may have been perfect when the kids were at home, but now you may not need all that space.  Downsizing is a good way to put some extra cash in your pocket and earn yourself a tax break.  But deciding where you want to live is about more than just how big your house is.  Maybe you want to live at the beach, or move to the county, just remember that you have to plan for what you want. 

Here is what you need to consider:

      Taxes
      Climate
      Cost of Living
      Proximity of Family and Friends
      Opportunities and Activities

Cut Back

If you are getting ready to retire, then it is a good idea to cut back on your spending now.  Not only do you want to get used to living on a fixed income, but you also need to be prepared for extra expenses.  Many retirees find that they spend more than they had planned once they reach their retirement.  The reasons vary, but it never hurts to have extra cash on hand. 

If you're worried about running out of money or think that you might be tempted to over spend then here are some tips to help you cut back:

Put Away the Cards

Credit cards make it very easy to overspend.  If you are trying to cut back, then put the cards away and only pull them out when you absolutely have to.  Not only will you have fewer bills to pay at the end of the month, but you will also be training yourself to live on a fixed budget.

Stay Away From the ATM

This one is right there with the credit cards.  If you are trying to learn to live on a fixed income then you need to stay away from the ATM.  Take out the amount of cash that you have budgeted for a given period and then when it's gone, its gone.  It may be hard at first, but it's a very good habit to start.

Shop Smart

It's time to learn the difference between a luxury and a necessity.  I realize that the whole point is to be able to afford the luxuries every now and then, but the key to that sentence is "every now and then."  You have to know when to splurge and when to save.

Balance it Out

The whole point of retirement is being able to enjoy yourself.  So if you want to take that big trip, take it!  Just make sure that you balance out the spending in other areas.  You can't spend mindlessly and still make your money last.

Work Together

If you're married then you also have to remember that you're not in this alone.  Make sure to include your spouse in all of your retirement plans.  They have to be on board or you are doomed to fail before you ever get started.  When you work together it just makes it that much better on both of you.
 
Now, go have some fun!  You've earned it!