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IRA Financial Group Blog

Summer State Of Mind

Retirement made easy
3 Minute Read

After Memorial Day Weekend, people start to get into a summer state of mind. How about you?

Key Points
  • Summer comes this month
  • Is it time to look at your finances?
  • Taking time for yourself is important

What Will Summer Look Like?

For many people, summer is the time to take vacations, visit family, tour the country, and swim, eat, and relax. Schools close for at least part of the summer, many workplaces wind down the stress of the previous year. And ice cream shops that were closed for the winter have reopened, causing giggles and shrieks from passing cars with kids in them.

Summer 2020 was a bit of a wash, with wishful thinking helping provide a bit of cover as the pandemic raged. Hotspots broke out all over the country, from coast to coast and in between. But 2021 seems a bit more promising. Almost 50% of Americans are vaccinated for COVID-19 and more are getting the shot every day, with cases falling here at home. The CDC has eased its mask mandates around the country and the warm weather beckons in many areas.

Summer Plans

There tend to be lots of things to celebrate in the summer, from “real holidays” like July 4th and the start of summer, to “National Iced Tea Day” on June 10. And this is part of the point. Celebrating whatever makes your soul light up is important. If you love Iced Tea, maybe make it a part of your celebratory meal as you enjoy your days. It’s the same with a morning cup of coffee. If you make it a ritual you enjoy, you may even find your gratitude and joy soaring.

Once summer starts and things start to slow down a bit, don’t be afraid to enjoy it. And if you don’t have a period of slow down at your work or home, schedule some downtime for yourself. What do you enjoy doing? Start thinking now of how you’ll use your time off from work – and you should definitely take it. You may find that you need some time off more than ever.

Summer State Of Mind

So what else feels like summer to you besides vacation and heat waves? Maybe it’s the time of year that you assess your learning plan for the future. As things may slow down in the summer, it can be a great time to look at your retirement savings, long-term career goals, mortgage values and refinancing options.

Being in a summer state of mind may mean something different to you than it does to another person, but on the whole, most people agree summer is a time to slow down, cool off, and give yourself a break. Read some good books, fiction or nonfiction, and really encourage your own interests outside of work and family obligations.

Encouraging Interests

Summer is also a great time to learn new things, if the pressure on you abates just a bit. Learning to sew can be fun in the summer, as you can learn to make wraps or saris. Reading about military conquests can also be a good way to pass time in the milder days ahead.

As long as you are doing something nice for yourself you’ve got the right idea. Take control of your future by relaxing into responsibilities that can help you and your money grow. The Solo 401(k) plan is an IRS approved, qualified 401(k) plan designed for a self-employed individual or the sole owner-employee of a corporation. The Solo 401(k) plan is the most popular retirement plan for the self-employed. Start your dream business, invest in a Solo 401(k), and start moving from dreams to reality.

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