Many of us spend years picturing and planning our ideal retirement. Retirement allows us to spend more time with our loved ones and do more of the things we enjoy. Preparing for your retirement, both financially and emotionally can help you embrace the new life stage with excitement.
Common challenges of retirement include feeling a sense of lost identity and feeling anxious about having more time on your hands, but less money to spend. It may be difficult to fill the extra hours with meaningful activity and leave you feeling unsure about how to adjust to a new routine.
Tips to help you prepare for retirement
- Plan what you’re going to do with your extra time and how you’re going to structure your days. Start thinking about a hobby or interest for your retirement.
- Set new exciting goals. Consider volunteering or studying. You may even consider doing a part-time job to bring in extra income and meet new people.
- Use the time to discover a new you. Try new things and experiment with different activities.
- Start strengthening your social network. Consider joining a social club or attending evening classes.
- Make sure your family is on the same page with your retirement. For example, agree in advance how many times a week you get to see your grandchildren, and ask your spouse about their expectations for time alone.
- Caring for a pet can also help you to maintain a sense of purpose and make you feel less alone.
Are you planning for retirement? Chat with a counsellor at NMG SmartAssist to help you map out the transition into your golden years. There are legal advisors that can give you advice on your will and estate.