No one likes to think about getting old, but ironically, almost everyone likes to think about retirement. So how do you plan for retirement?

Since school leaving age, I got bombarded by ads and all types of communication regarding my retirement and how I should plan for it.

This communication came mostly from life assurance companies trying to sell me a policy to make provisions for that day that seemed so far in the future.

It was always about having enough money to live on, making provision for medical care, and enjoying my golden years, a favorite phrase of the life assurance industry.

Now that I am older and getting ever closer to that day, I realize that nothing was ever said about where I will be spending my so-called golden years.

Surely it won’t be in the same home I raised my kids. Why would I need a 3 or 4-bedroom home with a double garage when it will be just my wife and me and eventually, as the stats show, just my wife.

Sure, I can sell my house when the day comes and then move. But to where? What will I require in terms of space and facilities? Will I buy, rent, or go for a life right option?

Will I require a frail-care facility? Will there be levies and will I be able to afford those?

Will the costs of a retirement home, village, or resort in my area be affordable or will I have to move to another city, province, or another country just to be able to afford it?

These are the questions that I have been asking myself lately and I just don't have the answers.

One thing is for sure, I cannot buy a retirement home right now, while I still live in my home, but neither can I only put plans in place once I am ready to scale down.

I have therefore decided to tackle this issue and make sure that I have some sort of plan in place by the end of 2021.

If you have any ideas and suggestions, I’d like to hear them: