When planning your retirement have you given any thought to other aspects of retirement besides having the necessary funds to live the lifestyle you desire? Retirement can sneak up on you faster than you might think!
Preparing for retirement involves more than simply making sure you have enough of a nest egg stashed a way to meet your needs. After all, retirement is a huge change from having five or more days a week being structured around employment. Going from 100 miles an hour to having too much time on your hands can be disorienting and in some cases even depressing.
Here are three things you should consider to help make a smoother transition from working to retirement:
- Rediscover your interests and passions – These things can lead to rewarding hobbies once you are retired. In some cases they may even lead to money making opportunities. For example, if you like wood working, you may be able to sell some of your work.
- Get a health checkup – This is something that many overlook. There are two reasons for this. First, if you have health care coverage it will likely change once you retire. It is best to take advantage of your more robust health coverage while you have it. Second, if any health issues are found, it is best to have a good idea of how that will impact your lifestyle once you retire.
- Make sure you discuss retirement with your spouse – If each of you has different expectations regarding retirement (travel, hobbies, etc.) it is best to get that out in the open and resolved as soon as possible. Even things like rising early vs. sleeping late can cause issues. Make sure to be as open and honest with each other as possible. If you are single, consider getting a pet if you don’t already have one. Retirement allows an owner to give the attention necessary to a pet that the employment years don’t allow. The companionship can be very rewarding.
Think about planning for retirement in a much broader sense than just stashing funds away and you increase your odds for a happy, fulfilling life once you leave the work force.
How have you addressed these issues? Are there any stories, tips or things learned that you might share with us and others?