If you are someone who has worked for your entire adult life, there are few changes as momentous as retirement. For perhaps the first time ever, you aren’t expected to show up somewhere at a particular time. This can feel like an incredible freedom at first, but after a few weeks, you may start to feel purposeless. These can be among the best years of your life, but it’s good to have a plan and an idea of what to expect.
Time for Adjustment
It’s important to prepare for the possibility that you will feel a little lost at first, even if you were eager for your retirement. There will be an adjustment period, but it will be easier to navigate if you have a plan of what you want these years to look like. However, even if you have ambitious goals of starting your own business, moving to a new country, or going back to school in your later years, it’s a good idea to give yourself a few weeks of down time to adjust to the transition.
Maximize Your Assets
Unfortunately, this can also be a stressful time because many people are worried that they have not saved enough money. However, you may be surprised to find that your assets are worth more than you realize. You might want to downsize and sell your home, moving to a smaller place, perhaps even a rental. You may have other assets you no longer need as well, including a life insurance policy. You can use a life settlement calculator to determine its value, and this can help you decide whether selling it might be the right choice. This can provide you with a substantial amount of money to supplement your savings.
It’s important to maintain connections with friends and family since you aren’t getting the usual daily social engagement from going to work. While this can be a relief for some people, you may need to make an extra effort to get out and see people regularly so that you don’t become isolated. You may have the opportunity to get more involved in hobbies, and you can meet new people through this.
Make a Schedule
It can be helpful to try to create a new schedule or routine. You may have something planned that lends itself to this, such as starting a new business, but even if you don’t, building some structure into your days can help you avoid feeling aimless. This might include regular weekly appointments, such as coffee or dinner with a friend. Of course, there may be days when you just want to sleep in and take it easy, and you’ve certainly earned the right to take advantage of that sometimes as well.
You don’t have to pursue any great ambitions in your retirement but remaining mentally and physically active is key. You may be able to take college classes for free or at a reduced cost, or you may want to try a new hobby. Your local gym may have classes aimed at seniors although if you are already active and fit, you may have your own routine that you can keep following.