Although many of us spend much of our lives raising children and working, there comes a point where most of us start to slow down. Once we finish work, we might have grand plans to travel, to downsize, or to truly relax for a while. But that is only possible when you make some smart financial decisions in the present. 

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So what changes can you make to make sure that you have a little nest egg that will help carry through through retirement, help with paying for assisted living, or your chosen care facility when you age on? 

Budget 

The start of all of your planning will be a budget. Because most of us spend a little more than we should on things that won’t benefit us in the long run, adjusting to a budget can be tricky. And on the flip side, many people, when they start to build a budget, make it too strict and almost impossible to follow. A good budget should set a little aside for savings and a pension. 

Inflation 

There is no getting away from the fact that prices rise, and they will continue to do so. Part of your planning should take into account that there will be an increase in prices. 

Planning for inflation could mean that you need thousands more than you had initially projected. The best thing to do is try to increase your savings and pension pots as you go. Small increments will make a big impact. 

Have Discussions

While some people are firm with what they want their future to look like, maybe you aren’t. Perhaps you and your partner have joked about what you will do in retirement, but nothing is set in stone yet. Talking about what you want with your family will make it easier to forge forward with a plan that adheres to your wishes. 

Physical Health

Taking care of your physical health is something that is important, and where possible, we should make the best choices possible. Healthcare is one of the biggest expenses as we age and can eat into savings quite significantly. Although many illnesses and diseases are unavoidable, keeping healthy in general can help you reduce the costs of many other things. 

Keeping active, with a healthy balanced diet and regular doctor's checkups, are just a few of the ways that we can keep our physical health in good order. Keeping a self-care routine for the duration of your youth and beyond can help you to stay on top of how you feel mentally and emotionally, too: 4 Tips to Look After Your Appearance As You Get Older - Wonderfully Messy Mom. 

Change Retirement Date

We are now in a position where most people will not be retiring as early as in the past. The rates of inflation and cost of living have forced people to work for longer. But part of being prepared is by factoring that into your plan. 

Plan to extend your working years beyond what you first thought; while it might not sound great, in the long term, it will fatten up your retirement posts and give you more peace of mind.