Creative Ways to Spend Your Time Once You Retire
On average, about 10,000 people retire each day in the U.S. One day, it will be you. Are you prepared for retirement? Once retired, how will you spend your time? Thinking about these issues now will make retirement easier and more enjoyable.
Once you retire, you will have plenty of time to enjoy. After all, you no longer have to commute to work and have set hours during the day. Some people think retirement is when you sit in a rocking chair and knit all day. While you could do that, if that is enjoyable, many people find retirement can be much more.
Retirement can be an exciting and intimidating time as you enter a new phase of life and look to begin exploring new interests and activities. Whether it's learning a new hobby, taking up a part-time job, or volunteering, there are many different ways for retirees to spend their newfound free time.
Travel and See the World
You might not be able to join the Navy and see the world, but once you retire, traveling and seeing the world is a popular activity. Many younger adults don't have the time or financial resources to travel extensively, but once you retire, this might be high on your priority list.
If you've adequately saved, you should have a good supply of time and money. You can consider visiting places like France, the U.K., Costa Rica, Germany, Iceland, and Italy, to name a few. Cruises are popular, cost-effective options for travel and entertainment.
Traveling can sound difficult for some people depending on age and health, but many countries and cities have extensive accommodations to make traveling easier. If you plan far ahead, you can join established tours to avoid finding your way around the city alone.
You never know when your health may start declining, so many experts suggest you enjoy travel sooner than later. Please don't put it off since you don't know when your health may make it more challenging to enjoy traveling.
Start a Business
Why would you want to work after you finally retire? You should start your own business after you retire because it's a great way to continue exploring your passions and keep yourself active.
One benefit of starting a business when you retire is that you can remain actively engaged and challenged with something you are passionate about. You can avoid the boredom or lack of purpose that can come with the end of a traditional career.
Starting a business after retirement allows you the freedom to explore new ventures and use your skill set to pursue your passions in ways that may not have been possible before. Furthermore, certain business activities provide opportunities to supplement retirement income and make a profit.
Additionally, starting a business after retirement allows you to stay socially connected. It can provide a sense of community and companionship that can be difficult to find in other post-career activities.
Networking with other entrepreneurs and exchanging skills and expertise can add further value to the experience. Through their business venture, entrepreneurs can also support their local communities and environment, which can be gratifying.
Pick Up a Hobby
Hobbies are an enjoyable way to spend your time doing something you are passionate about. Explore crafting activities such as knitting, woodworking, pottery, jewelry making, or painting. If you don't have much experience, many online resources provide video tutorials and instructions to help get you started. For instance, if you're interested in learning Italian as a new hobby, you could utilize resources like the Intrepid Guide, which provides video tutorials and instructions on the basics of the language.
Volunteer Work
When you retire, you could contribute to the community by volunteering. Local churches, libraries, schools, hospitals, and other organizations often need help to keep running. You can find volunteer work in an area you're experienced in or interested in. For instance, if you love animals, you can look for animal shelters and rescues. If you have an accounting background, you could find local non-profits in need of financial support. Volunteering is a great way to stay connected in the community, make an impact and meet new people.
Sports
Even if you don't think of yourself as being athletic, taking up a new sport or skill can be an enjoyable and challenging way to spend time once you retire. Golfing, fishing, bowling, tennis, yoga, and dancing are all accessible, fun activities to try.
Pickleball has become hugely popular. It is fun, easy to learn, and suitable for older adults. The sport combines elements of tennis, badminton, and ping-pong. It can be played indoors or outdoors on a court with a low net and a perforated plastic ball. Players use solid-faced paddles to hit the ball over the net and try to score points by making their opponents miss or commit errors.
According to the CDC, older adults need at least 150 minutes a week of moderate-intensity aerobic activity, such as brisk walking, cycling, swimming, dancing, and nature walks. So you don't need formal sports activities to keep busy, stay active, and maintain good health.
There are often classes available for those new to a sport or activity.
Use Your Time
Retirement doesn't necessarily mean the end of productivity. In fact, it could be an exciting opportunity to kick-start that passion project or venture you've been thinking about for years. If you're interested in converting your retirement plans into a profitable startup, enlisting the help of professional LLC formation services can be a smart move. It provides the legal framework for your business, freeing you to focus on turning your creative pursuits into viable entrepreneurial ventures.
When you retire, you will have time, but as you know, time goes by quickly. Don't waste your relatively good health when you retire to enjoy your retirement.
You are only limited by your willingness to try something and keep busy.
Be it learning a new language or trying a hands-on hobby like woodworking, pottery, painting, or photography, trying a sport, traveling, volunteering, or starting a business, there are fascinating things you can learn and enjoy.
Being prepared for retirement takes some work before you retire. Be sure you fully fund your 401(k) and other retirement accounts. Make sure you have a living will and medical and legal power of attorney paperwork in place.
Be ready for future declining health and the costs of long-term health care. The time to obtain Long-Term Care Insurance is ideally before you retire when you still enjoy good health.
Retirement is a reality, and aging happens. Get ready and plan on enjoying the time once you start the first day of the rest of your life.
About the Author
Mallory Knee is a freelance writer for multiple online publications where she can showcase her affinity for all things beauty and fashion. She particularly enjoys writing for communities of passionate women who come together for a shared interest and empower one another in the process. In her free time, you can find Mallory trying a fun new dinner recipe, practicing calligraphy, or hanging out with her family.
Mallory Knee
Contributor since September 25th, 2020
Editor's Note
As you navigate the path toward retirement, it's vital to look beyond the horizon of leisure and travel and consider the realities of aging and long-term care. Chronic illnesses, mobility issues, accidents, and conditions like dementia can shift the landscape of your golden years, making daily tasks and self-care challenging. The cost of long-term care can be staggering, quickly eroding savings and investments you've dedicated a lifetime to accumulate.
You should integrate long-term care into your retirement plan, acknowledging that the need for assistance or supervision with everyday activities is not just a possibility but a common aspect of aging. Medicare may cover only a fraction of these expenses and only under specific conditions, leaving a significant financial gap. Planning ahead with options like Long-Term Care Insurance will safeguard your nest egg and provide the necessary support without overburdening your family or compromising your quality of life.
Consider this: the need for long-term care is often not a brief period at life's end but can span years. This care can be provided at home, in an assisted living facility, or in a nursing home, each with varying costs and considerations.
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By addressing these needs in your retirement planning, you ensure that choices about your care remain in your hands, not dictated by circumstances. You have the power to access your choice of quality care in the setting you desire so you can shape your future comfort and dignity, but it requires action now—because when it comes to long-term care, hoping for the best without planning for it is a risky strategy.
Every insurance company has its specific underwriting standards that can vary widely - What Is Underwriting In Long-Term Care Insurance?
Your reasonably good health gives you the ability to plan effectively. Most people get coverage in their 40s or 50s, although if you have fairly good health, you can find options in your 60s and beyond.
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