If retiring is on your horizon here are some tips on how to make the transition work for you.
Whether you plan to walk out of work and never look back or ease out of the workforce by gradually gearing down your commitments, there are many options and no set rules for retirement. But whatever your plans, for a happy and healthy retirement, prioritise staying connected, involved and invigorated. The following tips might help you plan your transition.
1. Get inspired
No longer is retirement a time to be put out to pasture and confined to a life of golf or knitting. Just because you’re stepping back from work, you don’t have to retire from life! Much as they have done with every other stage, baby boomers are reinventing retirement. Rather than playing by the traditional rules, they’re changing them, and doing amazing things.
At 77 for example, astronaut John Glenn became the oldest person to travel into space, while the first Lord of the Rings book was only published when its author, J.R.R. Tolkien, was 62.
It’s never too late to start and you’re never too old to succeed. So instead of thinking of retirement as an ending, why not adopt a positive mindset and reframe it as a new beginning?
2. Plan to succeed
Whatever your plans, spending some time mentally preparing may help make the transition smoother. Write down your vision for retirement, talk to others about their experiences and get planning.
3. Reinvent your career
Rather than not working, retirement could be the ideal time to start your own business, working your own hours on your own terms. So popular is this course of action there’s even a word for those who do it – seniorprenuers. But if that path isn’t for you, you could look into using your experience by consulting or working part-time in a new field that you’re passionate about.
4. Get involved in the community
If you’re still healthy and active, retirement is the perfect time to get more involved in the community. Volunteer, take up a new hobby, or become more involved in your current hobbies. Find the things you love and do them. The more you put in, the more you’ll get out and the friendships you make will provide invaluable social connections.
5. Reconnect with family and friends
If a demanding job meant you let relationships slip, now’s the time to reconnect with family and friends. Having a strong support network will also help when dealing with the complex financial decisions that come with retirement.
6. Travel the world (or Australia)
Whether your budget extends to exploring the world or caravanning in Australia, now is the time to see those places you’ve always wanted to see without the restriction of your annual leave balance.
7. Learn something new
Retirement is a great time for further study if there’s something you always wanted to learn but never did – it could be another language, the piano, ancient history or finishing high school.
8. Get a pet or a housemate
If you live alone, getting a housemate will not only provide you with company, but someone to share the chores and expenses. Alternatively, pets can provide great companionship.