Adjusting to Retirement: 5 Helpful Tips
If you're getting close to retirement age, you are thinking about retirement. Perhaps you have recently retired, and you're unsure what you should be doing. These five tips will help you chart an enjoyable retirement.
Retirement can mean a lot of different things to people. It might be ideal for some to take that long-planned vacation. It will be a chance to dive into new hobbies and change careers for others. Here are some tips regarding retirement that can help you along the way:
Get a Hobby
Often, people sit around and watch themselves grow old once they retire. It is not healthy and can lead to depression and declining health. A hobby can not only keep you busy but can become enjoyable in your retirement years.
What were your passions when you were younger? What things did you want to do that, for whatever reason, you never got around to completing or experiencing?
It can be fulfilling your teenage dream of playing the drums like Led Zeppelin's John Bonham or performing guitar solos like Pink Floyd's legendary David Gilmour. Maybe you wanted to sing like Olivia Newton-John or dance like Jennifer Beals in Flashdance.
You could pursue painting because artists like Bob Ross inspired you greatly in your youth. These skills and hobbies can be unique to you. You are only limited by your imagination and desire.
See the country or see the world. Traveling is something too many of us put off because we are too busy. Then, you wake up one day, and you may have the desire, but your health limits your ability to travel.
Many people prioritize traveling once they retire while they have the health and mobility to enjoy it. You can fly almost anywhere in the world if you have the money. For example, you can fly to virtually any major city in Europe and then take a train and travel throughout the E.U. Or, instead, fly to a city like Rome, London, or Paris, for example, and spend a week seeing all the sites.
Perhaps a more slow-paced cruise is more your style. You can cruise almost anywhere. Alaskan cruises are a popular one to consider. There are many Caribbean cruises to see the islands and enjoy fun in the sun. There are even around the world cruises to consider.
However, travel doesn't have to be international. While visiting other countries and experiencing different cultures can be a great way to spend your time, you can see the country by getting in your car and taking off.
Perhaps you drive old Route 66 across the country. There are numerous state and national parks and attractions, museums, sports stadiums, vacation spots, and historical locations you can visit and enjoy.
When you are busy with work and family, you don't have the time to think about these kinds of vacations, but as a retiree, what are you waiting for?
Being older has its benefits, especially with traveling, where senior citizens can get discounts on hotel rooms and restaurants. Travel has become even more accessible even for those who are older or who have some disabilities.
Retirees also like to rent an RV when hitting the road instead of staying in a hotel. Camping, fishing, and golf are also options. There are so many things you can do you should never get bored.
Never Too Late to Learn - Become a Student
One of the best things when it comes to how to cope with retirement is to start learning different things. Now that you have mostly free time, you can invest in better things and make yourself better rather than just sitting around doing nothing. The beauty of this is that you can go and learn anything you like that is within your physical capabilities.
Many people have completed their education after retiring or even gone for higher levels of education. However, this does not have to be strictly in the academic line. You can learn different skills, e.g., improve your computer skills, and enroll in public speaking classes. You can also opt for some physical skills like martial arts, particularly Brazilian jiu-jitsu. This type of martial art is not that physically dangerous, and anyone of any age can learn this art form.
It will keep you in shape and healthy even if you are older. Whether you are going back to school for fun, to learn a new skill, or even to get trained for a second career after retirement, college classes mean writing. Writing essays is probably something you have not thought about since your kids were in school, and you helped them.
It is a little easier to do research and write essays today than when you were in school. The internet is an outstanding source of research on any topic. There are even services that help you write essays.
One source of writing help is from a company called Edu Jungles. Edu Jungles is an essay writing service. The service helps people with whatever writing tasks you may require on any topic. They will help with research, edit your work, and provide input to make your 'school life' easier.
You will often need to write an argumentative essay, and they can help with that with your input. You can get argumentative writing help by EduJungles, just click here to learn more if going back to school is something you want to accomplish.
Many colleges and universities offer online classes, so no problem if you don't want to go to campus or don't live nearby. Many retirees love the idea of learning new things or exploring topics or subject areas that interest them.
Keep in mind the college may require an admission essay, so be ready to write. Edu Jungles also has an application essay service that will take your daunting challenge and nail it.
Balance Your Time
Now that you are retired, you are no longer on the clock, but that doesn't mean you ignore any schedule or structure. Some people feel disoriented once they are no longer employed. Having time pass and nothing to show for it may feel ok for a while, but as time goes by, you will see that you have nothing to show for that lapsed time. That is not good for your well-being.
Set your goals and priorities for the day or the week. Having a schedule is not a bad thing and will help you use your time wisely in the way you want to use it. You don't have to schedule every minute but have an idea of what you want to accomplish.
However, you are retired, and you can and should be flexible. You can change your mind. You are in charge but don't allow for time to go by without any idea of what you did. You have things to enjoy, people to see, and some things you must do. Understanding these priorities and scheduling your time wisely will help you get everything done and still not feel rushed.
Design Your Budget
One of the adjustments new retirees must deal with is money. How you plan your budget and spend your money will determine how successful your future retirement may be for you and your spouse.
When you were growing up, you heard your parents tell you to be mindful of your finances. That advice applies to someone who is retired as well. After retirement, you might not have an active source of income. Knowing how you will spend the money you have coming in is essential.
Your cash flow might be limited, which can disrupt your life if you are not careful. On the other hand, if you take an intelligent approach, you can turn around the situation. First of all, take out all of your monthly bills, such as:
Internet & Cable;
Health and Medical.
These are some of the necessities that you cannot live without. After identifying your fixed expenses, start reviewing your other bills. Identify the importance of each item and note the amount you are spending on them.
Then calculate your total income for a year. Now see how you can save more by excluding some of the services. For example, many people pay for cable or satellite TV services, streaming services, music services, and other entertainment-related expenses. Are you using each service, and is each individual service essential?
Look at your cell phone service and determine if better deals are available based on how you use your smartphone? Review each expensive with a critical eye but don't deprive yourself. As many seniors say, "you're on a fixed income now."
There are things you should be sure to budget for ahead of time. For example, the cost of health care is expensive. While you will have Medicare and a supplement to cover most health costs, it won't cover everything. If you have money left over from a Health Savings Account, the pre-tax money can be used tax-free to pay health-related expenses, including Long-Term Care Insurance premiums.
Long-term health care costs are a significant concern, and those costs are rising rapidly nationwide. Medicare and supplements will not pay for most of these costs, and Medicaid will only pay for long-term health care if you have little or no income and assets.
Long-Term Care Insurance is a solution. If you have savings and retirement funds, you will need to protect them and your lifestyle from the likely costs of future long-term care services. LTC Insurance will pay for these costs whether it is in a facility or in-home care.
While most people obtain LTC Insurance in their 50s, if you have relatively good health, you still may be able to get affordable coverage. Reverse mortgages can be used to fund insurance, and other retirement needs as well if you have enough equity in your home.
Don’t Wing It
Retirement is something to look forward to and enjoy. We only have a limited time on this earth, and planning will make your retirement years more enjoyable.
If you want an enjoyable retirement, better start thinking about it before you retire. Too many people 'wing it', and that lack of preparation can be disastrous. A little planning is well worth it for you and your family.
About the Author
Leon Edmunds is a writer and writes for websites, blogs and works as an academic writer at EduJungles, a professional essay writing service. His main interests are content marketing, communication skills development and blogging.
Contributor since May 4th, 2022
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