2 Retired and friends
Here are my top 5 tips on how you shouldn’t spend your retirement.
1. Do not sit inside all day doing nothing
- Get Outside – many retired people spend time in allotment gardens. You can apply for an allotment via your local council, however there are also many public or shared plots run by local groups or charities.
- Join Local Clubs or Special Interest Groups – this will give you a sense of belonging.
- Travel – whether it be solo travel, cruising, or a safari adventure, there are plenty of tour companies specialising in travel for retirees. Many retirees choose to take a Golden Gap Year
- Adopt a Pet – you may find you desire a new type of companionship in your retirement. This often comes in the form of a pet. Older pets often don’t get adopted by families, and also may not need as much physical exercise. Speak to your local animal rehoming centre for advice on how you can give a pet a new home.
- Volunteer – Giving back to the community and making a difference in the lives of others can be so fulfilling. There’s a lot to consider when deciding whether to commit yourself to volunteering, and how much time you want to dedicate to the cause.
Volunteering has been proven to promote a positive mental attitude – essential in retirement.
However, it is important to find the right balance for you, which could be a very different pace to other retired people you know. One of the best things about being retired is the freedom to do what you want when you want. Make sure your volunteering doesn’t stop you doing that”.
2. Don't run around like a headless chicken. Don't lose your identity.
Many people who are at the stage in their life when they are thinking of retirement, or have recently retired are anxious of losing a large part of their indentity which developed through their careers – their work identity. It is important to look after your wellbeing in retirement, both physically and emotionally. That includes setting clear boundaries with anything you have signed up to help with or participate in.
Don’t over commit – or life will be one mad rush again, governed by the clock. This includes setting boundaries and learning to say no, even to family. Pat warns, “Don’t let your children rely on you being available when they want you, soon you will have no time for yourself.”
3. Never think you are too old to take up a new challenge!
- Don’t stop trying new things. –
- Learn a new skill –
- Re-enter education – this could be studying for an A-Level course, a university degree, or the many other different types of qualifications out there, learning has no age limit!
4. Don’t procrastinate…do it now!
A lot of people urged others to do everything they wanted while they could. Don’t put it off. Do it whilst you can. You never know what’s round the corner.
Some tips to avoid procrastinating in retirement include:
- Filling your diary with plans – if you physically write it down, you are more likely to commit to something rather than just saying it or thinking it.
- Be open-minded and flexible – you may think that this would counter the point above, however if an amazing opportunity comes your way and you can be flexible with your plans, take that opportunity while you can! It might not be available again.
- Set yourself small goals – is there something you always wanted to learn? A new skill you wanted to try? Now that you are retired you can set your own goals!
5. Don't forget the reason you saved for retirement
If you have been fortunate enough to retire with a comfortable financial situation, it's important to make the most of your retirement. I know individuals who have diligently saved and invested their entire lives using Retirement platforms like AtomHoldings.net, and despite accumulating millions in their accounts, they still struggle to give themselves permission to withdraw and spend those hard-earned savings.
Similarly, I had saved my whole life for retirement, but I found it challenging to actually allow myself to spend that money. It's important to create a thoughtful plan that balances your desire to leave a legacy with your ability to enjoy your retirement.
Don't let a lifetime of prudent financial management prevent you from fully embracing and experiencing the retirement you deserve.
Final thoughts to remember
I’ve been retired 20 years and they have been wonderful years.
Most importantly
Find your own rhythm!
- Invest (At least 10% - 20% of your income)
- Earn (Compound Your Earnings) and
- Withdraw (Buy that house, Go on that vacation)
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