The Best Things To Do In Retirement
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Congratulations, youre ready to retire. Youve done the hard partspent a lifetime getting out of bed and getting to work, taking care of your family, and saving for this day. But what if retirement turns out to be too easy and theres not enough to do? John Brady, president of TopRetirements.com, says start planning now so that when your retirement finally comes you are set up for a happy transition from the working life. Read the full story at TopRetirements.com. Brady notes peoples jobs keep them busy, but in retirement they need to find fulfilling activities. Here are 10 ways to stay busy and engaged with life.
1. Get a job
That might seem to be more than a little ironicto leave the workforce only to come back into it. But one reason is that you might need the money. For another, retiring is often a great opportunity to start a new, totally unrelated career. Many people find encore careers liberating and fulfilling.
3. Take up a sport
4. Get a hobby
5. Start a business
Brady says that by suggesting travel, he doesnt mean taking a big trip or two and then forgetting about it. He said some people have a passion for travel: They save and plan for several big trips a year. They scheme for ways to exchange homes or work for extended stays in nice places. Or they buy or rent a camper and travel for long periods on a budget. When they are on the trip they savor the experience, and they enjoy planning for the next.
Stay On Top Of Estate Planning
Estate planning is another key step in a well-rounded retirement plan, and each aspect requires the expertise of different professionals, such as lawyers and accountants, in that specific field. Life insurance is also an important part of an estate plan and the retirement planning process. Having both a proper estate plan and life insurance coverage ensures that your assets are distributed in a manner of your choosing and that your loved ones will not experience financial hardship following your death. A carefully outlined plan also aids in avoiding an expensive and often lengthy probate process.
Tax planning is another crucial part of the estate planning process. If an individual wishes to leave assets to family members or a charity, the tax implications of either gifting or passing them through the estate process must be compared.
A common retirement plan investment approach is based on producing returns that meet yearly inflation-adjusted living expenses while preserving the value of the portfolio. The portfolio is then transferred to the beneficiaries of the deceased. You should consult a tax advisor to determine the correct plan for the individual.
Later on in life, how you would like your money disbursed will be of the utmost importance in terms of cost and taxes, Hebner adds. Working with a fee-only estate planning attorney can assist in preparing and maintaining this aspect of your overall financial plan.
Don’t Immediately Downsize Your Home
When you retire, it’s tempting to sell your home and move to smaller digs, especially if you need cash and have equity in your home. However, you might want to hit the pause button on this, especially if your payments are low, or you’ve paid off your mortgage.
Things to consider:
- It is expensive to downsize.
- The actual move is a considerable expense and could be emotionally and physically taxing – even if you’re just moving to the retirement community on the other side of town.
- If you’re considering a long distance move to what’s said to be one of the best retirement areas in the country, consider that you would be leaving behind old friends, everything that’s familiar, and probably family.
- Postponing moving to a new house after you retire will give you fewer changes to adapt to all at once.
If your monthly housing costs are low and it’s just a matter of having more available money, there are less traumatic options for putting your equity to work than selling your home. You could get a reverse mortgage, rent a room out, or make the garage an income producing studio rental.
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What To Do In Retirement Get In The Best Shape Of Your Life
As the saying goes, if youve got your health youre already rich. Fitness is another lifelong pursuit, and this one can make retirement life better in almost every way. Youll have more energy, a healthier body and a happier mindset, too.
Fitness offers so much variety that you never need to grow bored with it. There are classes for yoga, Pilates, spinning and more. The Centers for Disease Control also says that weight training relieves arthritis, improves balance, increases bone density, manages weight and diabetes, strengthens the heart, and makes sleep better and more restful.
Go For A Hike In Nature
Nature is free and does wonder to our health. Because being in nature reduces anger, fear, and stress, and increases your mood. Being in nature will make you feel better emotionally. And it also contributes to your physical health: reducing blood pressure, heart rate, muscle tension, and the production of stress hormones.
So go for a walk in nature, its free, and its healthy too.
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Don’t Neglect Your Appearance
Ageism exists and especially for women, but ageism can also be an internal mindset. Yes, you’re retired and getting older, your body has changed, your hair’s gotten thinner and grayer, and you’ll never look like you did in your 30s, 40s, or 50s. However, just because you’re older and no longer have to look great for work is no reason to let yourself go.
Looking after of your hair, nails, and skin is essential, as is maintaining your exercise routine. Sure, it may be harder and take longer when you’re older, but the beauty is that when you’re retired, you have more time to spend on beauty and fitness routines.
In her book, I Feel Bad About My Neck, Nora Ephron says: “At 60 you have to spend at least eight hours a week on maintenance – just to keep you from looking like someone who no longer cares.” She also points out something about hair: “You no longer have to wash it every day” and claims there’s a correlation between how often you have sex and hair-washing. So, don’t neglect washing your hair.
Organize Neighboorhood Clean Up
A great thing to do in retirement is to organize a neighborhood clean-up. You can have some fun with your neighbors while cleaning up the area.
And if you dont want to organize a formal activity. You can just walk through the shared spaces in your neighborhood with a trash bag and a pair of gloves and pick up the litter.
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Stand Up Paddle Boarding
Stand Up paddleboarding is one of the most popular ways of surfing. And its very popular because everyone can do it: from small kids to seniors. So it gained a lot of popularity among retirees in the last couple of years.
Its a low-impact workout where you exercise your whole body. And the only things you need is a bit of water: lake, ocean, mild streams. And your inflatable paddleboard, which you can bring anywhere you want.
And youre not only training your body. You also train your mind and create a state of meditation. The soothing environment on the water and the focus you need to stay on the board calm you and bring you in a meditative state. Youll be stress-free after every hour of paddleboarding. So, what are you waiting for?
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Catch A Play At The Ramona Bowl Amphitheater
The Ramona Bowl Amphitheater is a large theater lodged in a little canyon.
Because of its location, it has great acoustics and beautiful natural sceneries.
In 1922, the area was discovered by Garnet Holme and the locals, and in 1923, the first production of Ramona, a play based on a novel by Helen Hunt Jackson, was held.
The land the theater is on, as well as those surrounding it, were from 1925 onwards.
The first people who watched the plays here had to hike to the theater since there was no road to the top yet.
You can bring your kid for their Summer Youth Theatre too, where they can audition for a part in the play.
If youre looking to visit, you can buy tickets online at their website.
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‘you Think Retirement Is Nirvana’
Jay explains how she felt in the lead up to retirement: I think like most people of any age, you think retirement is nirvana, you think its going to be fantastic. And I had worked in the exhibition business which meant I worked weekends, evenings, and long hours. It was a fantastic job, really interesting, but I suppose in a way I was quite exhausted. And I was thinking, Oh wouldnt it be fantastic to not get up early in the morning, not to be working in the evenings.”‘
But when retirement materialised, it wasnt the dream that Jay expected, I think emotionally I was dying to do it. But after 3 or 4 weeks it hit me that I could sit here looking at these 4 walls unless I personally took charge, took responsibility and did something.
Fun Things To Do In Retirement
Whether youre about to retire, have just retired, or its been a few years since you did, it can be hard to find something to fill your time. Many older Australians are looking for things to do in retirement that keep them interested and busy as it can sometimes be more difficult to enjoy the activities you once did.
Luckily, there isnt a lack of activities to help break the boredom and keep your mind and body active. From making new friends to picking up a new hobby, here are six interesting and fun things to do in retirement:
After a lifetime of hard work with only a few weeks of holiday a year, retirement is the perfect time to get out and explore. Travelling is one of the top activities that retirees engage in, and this isnt limited to international travel. Local holidays are affordable but can still give you the excitement of discovering somewhere new.
Visiting new countries and experiencing new cultures is a great way to learn more about the world. Some have specific cities they want to visit, while others enjoy a more consistent travel schedule to see as much as they can. If youre not able to travel abroad in the near time, planning for when you can, and researching the travel destinations of your dreams, can be a fun and educational past time.
4. Lifelong learning
5. Find a new hobby
6. Social groups
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Start A Collection Of Things You Like
When you have a retirement hobby of collecting you, do a lot of things for example: seeking, locating, acquiring, organizing, cataloging, displaying, storing, and maintaining items that are of interest to you.
If this is something you love to do, then these are great collecting hobbies in retirement:
- vintage clothing
Watch The Sunset Or Sunrise
There are sunsets and sunrises every single day. And theyre free to watch. So make sure you dont miss many of them. They are breathtaking, and it has been proven that watching the sunrise or sunset gives you a better sense of gratitude for the earth.
Its because when you are caught up in the natural beauty of a sunset or sunrise, you rid yourself of any distractions. And you feel higher levels of satisfaction and gratitude for whats happening in front of you. So, a great way to start or end your retirement day.
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Buy A Dog Or Adopt A Pet
Looking for companionship in your later years is very common and is a great way to add structure to your days. If you choose a dog then it will keep you active and outdoors while walking and exercising it. Cats are another popular choice as they offer company while also being more flexible, as with the right facilities you are able to leave them to their own devices for the day.
Pets4Homes has some key points for people to consider when they are looking to adopt or buy a pet in their retirement:
– Smaller Breeds are a Better Choice
Size is an important factor simply because a larger dog might accidentally knock an older person over. However, too small and they might end up tripping over their little canine friend. This means choosing a dog that is somewhere in-between but one which is not too heavy to be picked up or have sitting on your lap when it’s cuddle time.
– Low Energy Levels are Preferable
Dogs which boast lower energy levels are preferable to small to medium sized dogs that like to be kept busy all of the time. Think more couch potato like a delightful French Bulldog or a charming Cavalier King Charles Spaniel.
– Dogs That Love Children are a Must
– Health Issues Need to be Taken into Account
– Older Dogs are a Better Choice
It is also a better idea to get an older dog rather than a younger one simply because their energy levels will be lower and with an adult dog, any health issues should already be apparent so there would be no unwelcome surprises later on.”
Become A Lifelong Learner
There are 120 Lifelong Learning Institutes on university campuses throughout the country, all designed for people over 50. The courses vary from one institution to another and are not free. The program at the University of Massachusetts at Boston, for example, costs $225 a year, but the fee entitles members to attend five classes at a time, ranging from tai chi and yoga to digital photography. Brown bag lunches, museum trips, and other social activities are included.
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Get To Grips With Financial Matters
If youre not totally sure about how compound interest works, would like to understand the workings of the stock market better or be able to pinpoint exactly what your tangible assets are, nows an opportune time to brush up on your financial expertise. It can also help you feel more confident about ensuring all your financial affairs are in order when you speak to your financial adviser. And, once youre happy that everything is sorted, you can carry on enjoying your retirement.
Don’t Neglect Your Estate Planning
A subject that many retirees neglect is the inevitable end-of-life planning. However, it’s important to make sure all your affairs are in order so when the inevitable happens, your family will not be weighed down with decisions.
You’ll probably have to make some necessary adjustments, so talk to your legal and financial advisers after you retire about how best to handle your estate.
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Get Fired Up About Ceramics
Wheel throwing takes a bit of strength and physical dexterity, but hand building can be practiced for a lifetime. Ceramics is not the kind of thing that can be accomplished at home, as it requires a kiln to fire pieces, so the art form lends itself to socializing. Classes can be found at most community colleges or art schools.
Things To Do If You’re In Your 50s With No Retirement Savings
There’s a reason we’re supposed to save independently for retirement: Most seniors need 70% to 80% of their previous income to live comfortably, and Social Security will only provide about half of that for average earners. Without savings, it’s pretty tough to fill that gap.
How much savings should you be aiming for? Retirement costs the average American $46,000 a year, but you might need more or less money depending on your expenses and the lifestyle you want to uphold. Social Security, meanwhile, only pays the average senior today about $17,500 a year, so if that’s the sort of benefit you’re looking at and you have no savings at present, you’re facing quite the gap.
Now if you’re in your 20s, 30s, or even 40s, you have a decent window of time to start setting aside some cash for retirement. But if you’re already in your 50s, that window is much narrower. Here’s what to do if you’re facing the latter scenario and want to salvage your golden years.
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Canal Trip In A Narrowboat
There is always an element of relaxation when one is around water. Travelling at a leisurely pace and enjoying the best of British towns and countryside through the summer months is a fantastic way of seeing the country. Experiencing canal side pubs and the river community allows you to experience a slower pace of life, with jaunts into big cities whenever you please.
If you are not ready to move onto a canal boat for months at a time, you can easily hire one for holidays. Canal Holidays is a company that tailors tours to your wants, whether historic or scenic, there is a route for you that will allow you to dip a toe into the world of narrow boating.
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