Retirement Can Be an Exciting Period of Life, You Just Have to Plan Accordingly
When you think of planning for your transition into retirement, your focus may be mostly on the financial aspects. This is necessary, of course, to be sure you have enough saved to last your entire retirement, fund your healthcare costs, keep up with housing expenses, and give you the peace of mind that comes with an emergency fund, too.
Here’s a question, though: how much time and energy are you putting into preparing yourself for the mental and emotional impacts of retiring? Many people are surprised to find that the adjustment can be more difficult than expected. It may seem like leaving the stress and busyness of the working world to embrace a daily schedule of leisure would be ideal, but many retirees find it hard to navigate this new normal, which can feel a lot like self-imposed boredom.
So, what’s the key to navigating this big transition? Below are six helpful tips to help you avoid retirement boredom and adjust to this new chapter of your life.
1. Indulge in Hobbies
Whether you’ve enjoyed a specific hobby your whole life or you’re just starting to discover something new, having hobbies during retirement can do wonders for lowering your stress levels and giving your days purpose. If you’re not cultivating any hobbies yet, retirement is the time to explore activities that you’ve always been curious about or that seem enjoyable or fulfilling. If you’re having trouble finding a hobby that sticks, think about how you enjoy spending your free time or what made you happiest when you were a child. There’s a chance that you may find rekindling that early spark from your childhood can grant you purpose during this chapter of your life.
2. Consider a Second Act
One of the valuable side effects of having a job is that you’re able to keep yourself busy without spending money. Having another source of income is certainly helpful, too. While retirement is traditionally thought of as the time of your life when you’re not working at all, many retirees find that part-time work is a practical way to remain social, earn money, and keep busy. You don’t have to stay in the field that you worked in previously, either. Your second act can be in a field you’re passionate about or you want to learn more about. Is the cute bookshop you love hiring? Would you like to see all the people pass through the local coffee shop each morning? Maybe you’ve considered consulting in your area of expertise? Whatever the case may be, working part-time can be a low-stress way to avoid retirement boredom while providing you with other benefits, too.
3. Explore Your Entrepreneurial Spirit
If you find yourself feeling unfulfilled or needing to avoid boredom in retirement, why not take this opportunity to start that business you’ve always kept on the back burner? Your newfound freedom during retirement is a great time to indulge your entrepreneurial spirit, and you can get a head-start by slowly working up your business plan during the last few years before retirement. Take time to research the market, find the right location, and begin funding your project all before you’ve officially retired. By starting to plan before you retire, you’re giving yourself something to look forward to that can help make the transition into retired life easier as you’ll have a newfound purpose for your time and energy.
If you’re unsure where to begin or need help as you’re planning your business venture, you’ll find an abundance of resources available through the Small Business Administration to help guide you along the way.
Related Article: 8 Tips for a Smooth Adjustment to Retirement
4. Go Back to School
More and more retirees are using this phase of life to take a few interesting college courses or even pursue a new degree, either in person or online. Some states offer programs where retirees can audit courses for free, so see what options may be available to you. If you’re looking for something less formal, check into classes that may be available through local museums or community centers. Whatever form of education you decide is best, you’ll be able to reap the cognitive benefits – and avoid retirement boredom, too.
5. Pursue Volunteer Opportunities
If you’re not interested in working during your retirement and you’re in a place of financial security, then you may want to consider volunteering as a way to stay active, remain involved in your local community, and avoid retirement boredom. Find a local charity or organization that represents a cause you’re passionate about and sign up to donate your time or skills. Not only will volunteering help you stay busy, but it provides an opportunity to widen your social circle while also adding a fulfilling activity to your schedule.
6. Get Outside
Research shows that spending time in nature comes with many health benefits, making it beneficial to spend time outdoors as often as possible. Not only does spending time in nature provide a sense of calm for many people, but exposure to sunlight increases the release of serotonin – a hormone that helps you feel happier and more focused. It also helps your body create vitamin D, which is good for your bones. Whether you choose to spend your time hiking, biking, reading at the park, or tending your garden, aim to get at least 30 minutes outdoors whenever possible.
Will You Avoid Retirement Boredom?
If you’ve been focused solely on the financial aspect of retirement planning, it may be time to adopt a mindset that allows you room to get more creative and imagine the bigger picture of how you want your retirement to look. While the above list is a helpful place to start when imagining ways to avoid retirement boredom, your retirement can and should be uniquely your own. Get creative and think outside of the box, try something new, and expand your horizons as you begin to picture your dream retirement. Then, begin putting a plan into place so that you’re set up to hit the ground running once you finally reach retirement.
If you think you would benefit from a conversation with one of our advisors about your retirement plans, contact HR Wealth Management at our Denver, CO office by calling (303) 750-6075, emailing info@hrwealthmgt.com, or to schedule a complimentary discovery call, fill out our contact us form and a member of our team will reach out to find a convenient time.
