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February 28th, 2019
Financial security is a key component of a happy retirement, but how you choose to spend your daily life throughout retirement is critical as well.
Retirement can mean different things to different people. Some look forward to pursuing new interests, while others want time to relax. Whatever your future holds, one thing is certain – a secure retirement requires thought and careful financial planning, and it’s never too early to start.
As you begin to think about your retirement planning, take the time to consider some important questions.
Retirement can be a time to discover new and creative outlets and passions, and do the things you never had time to do while you were working. On the other hand, you may choose to work full-time, part- time or on a volunteer basis. Many people work in retirement to keep their benefits, maintain a stream of income, or simply because they enjoy working.
Planning ahead allows you to consider all options that will help you do or achieve what you want in retirement.
Many newly retired people also embrace the opportunity to return to the classroom, to find new skills or discover new talents. After a time of learning and exploration, some experience a renewed desire to work and go for new opportunities and challenges.
Some start their own business, and others take on an ‘encore career’ – one that makes good use of your well-developed skills and talents, and provides you with the opportunity to apply them in a new setting that has a social benefit, or makes a difference.
You might also consider a learning experience combined with the adventure of travel. Many people who choose an early retirement often feel the need to be physically involved and challenged, as the total absence of activities can leave an instant gap in someone’s life, especially after having worked for several decades.
When you leave the working world and turn your attention toward family, friends and hobbies, the desire to contribute in a meaningful way often becomes a priority. Volunteering is a great way for you to stay involved and make a contribution. The right volunteer work or community service can provide you with an opportunity to make new friends, gain recognition for your contributions and add more structure to your days.
This new phase of life should be seen as an adventure and a time to reinvent yourself. Financial planning and transitioning can take time, and involves testing out different pastimes, jobs and projects. Getting support from peers and loved ones in your life will take on a special significance as you begin to sort out all of your choices. The shift to retirement can be a welcome change of pace and yet it can be challenging to create enough structure to find a sense of satisfaction.
Take a realistic look ahead and plan carefully to help achieve your retirement goals, no matter if with a community service, a new business venture, or an entirely new undertaking.
Article courtesy of MetLife, First Super’s insurance partner. For more details about First Super’s insurance options visit the website.
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