Free time and leisure, here we come! Or at least, that is what they tell you retirement is like. All the time in the world to dedicate yourself to your hobbies, to take trips, to see your loved ones more often and all the time in the world to be, well, bored. For the first time in a long time, to be bored not because you have got so much to do, but quite the opposite. While retirement can feel absolutely amazing, for a lot of people, for others, it is an anxious thought – what will I do with my time? How will my life change? In order to make this decision and check whether this is really the step we want to take right now, here are a few questions we should ask ourselves before considering it.
Probably the most important question to answer right away. Without a regular paycheck, how will we maintain our lifestyle? Do we have enough in our savings, do we have enough assets, and how big will our pension be? Are we ready to downgrade to a simpler lifestyle? We need a sound financial plan before we commit to this step, so we should track our funds carefully, and consider hiring a financial adviser to help us out.
The first few weeks will be great. Sleeping in, lounging around with coffee and newspapers, reading all the books we have always wanted to read, enjoying our family and really being able to dedicate time to ourselves Until we realize, sitting around all day gets boring pretty fast. A few months of it, and we will be going insane, especially if you are used to hard work. While there is no need to plan out every detail of your life after retirement, it is good to have a rough outline of what we want to do.
Okay, we have found a way to spend our time, so now we need to think about what’s the general plan, what’s the direction we want our life to take? For a lot of people, career is a part of who we are, and losing that can be an impact. It is time to dedicate ourselves to things you always wanted to do, to find way to keep the quality of our life high. We can consider signing up for classes for seniors to learn new skills, find a way to turn our hobby into something profitable, and keep engaging in social situations to maintain strong friendships. An excellent way to have all this would be to live in a nice retirement village, so we should consider looking into some good retirement homes for sale and settling into a beautiful neighborhood with our partner. That way we will be surrounded by other great people with lifestyles similar to ours, and we will have everything we need at hand.
Unless we live alone, retirement is something to plan with our partner. Are they retired as well? How long do they plan to work? Bear in mind that both of you are probably used to having your own individual time alone, and being home more often can be a mixed blessing. The change is generally welcome, but both of you will still need time of your own to dedicate yourself to different interests and hobbies. Before we make a decision, we should have an in-depth discussion with our partner and make plans together.
Like we previously mentioned, our careers are not just something we do, it’s who we are. We have to ask ourselves if we can handle not making decisions related to our field of work any longer? It is good to consider other ways that will allow us to retire but still stay in touch. For example, we could see if there are any teaching positions where we could act as a guest lecturer at colleges and teach the young people our own craft.
If retirement feels like doom just waiting to happen, we are either not ready for it, or you have not been planning for it well. It is best if we pause, take a deep breath, and really consider all our options, possibly with a professional. We should make retirement feel good, make sure our life goes in the direction we want it to, and be certain of our decision.