Published June 27, 2021
Do you sometimes ask yourself what will happen to your life once you retire? I think most of us dream of having a wealthy, healthy, and, most importantly, a happy retirement. And with the average life expectancy getting shorter, we want it to happen sooner rather than later.
Unfortunately, it’s not a secret that many end up with little to no retirement savings and often struggle with a lack of purpose once they retire. While others don’t get to retire at all. But, it doesn’t have to be this way.
With the right retirement planning, your retirement life can be pleasant as you want it to be.
Here are some excellent tips to follow for a happy retirement and good living in your later years:
1. Find Your Purpose
Retirement means you now have lots of time to do the things you’ve always wanted to do. But if your life revolved around your career, you may find it hard to move forward and find a new purpose.
Sooner or later, this lack of purpose can lead to boredom and even depression.
So, ask yourself, what do you want to do in life once you stop working? Do you want to travel? Do you want to start a business? How about some charity work?
Just because you’re retired doesn’t mean you need to stop living. In fact, this could be your chance to finally be truly alive. You can go back to doing the hobbies you enjoyed while you were young or learn a new skill. The choices are endless.
2. Straighten Out Your Finances
Living a good life after your retirement won’t be possible if you’re broke and drowning in debt. This is why the best piece of retirement advice you should keep in mind is to always be prepared for rainy days.
If you’re planning to retire sooner, don’t forget to set your finances in order. Make sure that your retirement funds will last longer and will be enough for your expenses. Don’t forget to take into account the increased health care cost and payment for term care which typically comes with old age.
First off, set your financial goals. Then check out what benefits you can claim – social security benefits, retirement plans, pensions, and any other investments. Use retirement calculators to determine how much you should set aside per month or year to save up that much until your retirement. If you’re still lost on where to start, here’s a good piece from New York Times about how to catch up on your retirement savings.
3. Budget. Budget. And Budget
It’s not unheard of for some people to go on a spending spree right after they got their retirement money. Then they wake up one day and find out that everything’s gone – and that’s when regret sinks in.
Don’t get me wrong. How you spend your hard-earned money is entirely up to you. But you should still exercise some caution when splurging on things.
Even if you have huge retirement savings, if you don’t spend it wisely, you might end up with no money at all. Don’t stop budgeting, and remember that there won’t be a monthly
Paycheck to cover your financial mistakes anymore. Consult a financial advisor or wealth advisors to help you maximize those benefits and ensure retirement success.
4. Stay Healthy
While retirement planning is good, it’s also essential to take care of your body. Take advantage of your extra time to explore healthy cooking options because when you feel good, it’s easier to stay positive. Go on long walks (if your health permits) and strive to stay physically active.
Spare some time to work out and get your blood pumping. Harvard says we all should aim to do at least 30 minutes of moderate exercise a day. Not only it helps you to lose weight, but it also helps you to reduce your risk of acquiring health problems such as heart disease.
Meditation has become popular in the last decade. Practicing mindfulness improves your quality of life. Several studies show that meditation can control anxiety, reduce stress, improve sleeping patterns, which most retirees experience.
7. Pamper Yourself
After decades of hard work, you deserve to have some “me time.” Have a weekend getaway or go to a spa and pamper yourself. Not only can it boost your self-esteem, but also because you deserve it.
8. Keep In Touch With Your Friends
Whether it’s your friends from work or your old friends from high school, it’s best to have some regular catching up with them. Retirement does not mean you have to lose touch with the people you care about. So, plan and make arrangements to meet or visit them once in a while.
9. Get Yourself A New Pet
Retirement life frees up your schedule so you’ll have plenty of time to take care of a new pet. There are many benefits of owning a pet in your life. Research says that caring for something other than yourself is good for your emotional health. Having a pet can also help you feel less lonely now that you have to stay at home most of the time.
10. Give Back To Community
If you’re struggling to find your purpose in retirement, why not help others? Giving back to the community is a great way to spend your free time. There are lots of ways you can bring relief to the needy. Aside from donating, you can also participate in charity drives. Local charities and soup kitchens can be a good place to start. Helping others not only brings a positive impact in the community. It can bring you a deep sense of fulfillment too.
About The Author
Judy Ponio is a full time blogger and is devoted to topics about charity, kindness, and Christianity. She is part of Correct Digital, Inc which is paid by private donors to provide website digital marketing services to this non-profit organization.