Many people heading to retirement these days are taking the flexible route. They are switching from full-time to part-time in order to have a smooth transition whilst keeping up the work they love.
Many wonder when the time comes however, will they be truly satisfied? Lives were so fully occupied before, running from one thing to the next. However, retirement is an exciting step in one’s life and can be deeply fulfilling.
RetireAustralia established retirement villages in the Gold Coast that bring out the most in the retired phase of life. There are also several other steps you can take to boost happiness when you retire. Here they are:
Create a vision of what you want your retirement to look like
Having a strong vision in mind will help you plan your retirement out in advance and get you heading in the right direction. Ask yourself important questions like: ‘How do I want to spend my time?’ ‘What do I treasure the most, living by nature or in the city?’ and ‘How can I make my life more fulfilling than it already is?’ These are all deep, searching questions that will help you start thinking about retirement seriously around the fifties mark.
You will also want to map out where you want to retire. Maybe, you dream about immigrating to a country where life is lived at a slower pace and the sun always shines. There is so much out there to look forward to and explore.
Be honest and open
Talking honestly with your life partner about your hopes and dreams for retirement is essential. This way you can know whether you are on the same page and if not, work towards another solution. There may be no need to compromise if you can brainstorm and think of alternative solutions that weren’t previously discussed.
You don’t need to stop doing everything simply because you have retired. In fact, now is the time to keep to your schedule more than ever and create more opportunities to build the time you wish. So, manage your spare time wisely.
Set goals and keep in mind the bigger picture about how you want your life to look like. If there are any classes or skills you envisioned learning, now is the perfect time to pick it up. Maybe you want to get involved in more volunteer projects. Contrary to what you may have heard, retirement is a continuation of one’s growth.
Keep finances in check
One thing you don’t want to worry about is money during your retirement. You can minimise chances of things going wrong by building a solid retirement income strategy. You need to incorporate how your savings, social security and any pensions will be dispersed into your monthly income. This way you can work out how much to withdraw on a yearly basis.
Retiring on a budget is tough when you are used to having more money. Unexpected expenses can make it even harder. However, a reverse loan can help. You can choose from proprietary reverse loan contracts offered locally or loans offered through the government. In either case, you get to borrow the money for much longer than you would when applying for a traditional loan. You are also allowed to wait a long time to pay the funds back, as long as you keep living in your house. A traditional loan does not offer the same care-free time to spend the money the way you want. Nor does it provide a lot of home security, since you could miss payments. Additionally, a reverse mortgage gives you more options regarding how you can receive the funds you borrow, including as installments each month.
Doing the above can really impact your retirement for the better. As you can see, there is so much to look forward to and taking the steps outline in this article can boost your happiness.