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Episode Info: You spend half your life preparing for retirement, but that doesn’t mean that there won’t be surprises when you get there. YouTube Recap here: https://youtu.be/zzEnHR9Qv8I Retirement can bring on both positive and negative surprises, so it's important to prepare the best you can beforehand. So in this episode we breakdown the different kinds of surprises you may experience in retirement and how you can be ready. A year of surprises 2020 has been a year of surprises. It seems that every time we turn around the world has something new in store for us. Life has changed substantially and we are all dealing with a new reality. A changing reality amidst retirement can be scary if you aren’t prepared. If you want to be prepared for any eventuality during retirement then listen to this episode now. 5 positive retirement surprises In retirement, there could be good surprises or bad ones. We like to start out with the potentially beneficial surprises. You’ll want to hear which surprises might start out negative but could lead to positive changes. A second career - Some people find that retirement brings them into a second career. They may find this second round more fulfilling or it could be a way to give back to their community. Being able to contribute and still earn an income is an unexpected surprise for many.  An unexpected inheritance - While the situation may not be that positive, an unexpected inheritance could completely change your retirement plans. Coming into money unexpectedly requires careful consideration and planning A layoff - Not everyone retires when they want to. If you get laid off close to retirement age you could turn that negative into a positive especially if it includes a severance package.  Increased travel - If you have family that moved across the country or even across the world this could bring more travel into your retirement itinerary. Although seeing new places is always exciting, it’s important to prepare for the added expenditure.  A change in family dynamics - You may be surprised by taking on a caregiving role in retirement. This role could be for aging parents or even raising the grandkids. Another way that family dynamics change in retirement is through grey divorce. Listen in to discover how changes in family dynamics can change your financial outlook as well.  Don’t let negative changes in retirement surprise you Unfortunately, retirement doesn’t always bring sunshine and rainbows. It’s important to be prepared for negative surprises in retirement as well.  A decline in health - Health changes can change your finances as well. You may find that your Medicare premiums are higher than expected. Find out how you can rectify that by listening to episode 104. Long term care can also have a huge impact on your retirement finances.  Downsizing didn’t have the expected effect. Sometimes we think that downsizing in retirement will bring substantial financial benefits but that isn’t always the case...
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