10 big ideas for your retirement

Big ideas for your retirement

Retirement can be one of the most enjoyable phases in a person’s life. It should be a time when you know what you want to do, and best of all, you’ve got the time to do it.

However, when you stop work, it can leave you feeling a little isolated or lacking a sense of yourself.

According to Age UK’s Index of Wellbeing in Later Life, maintaining meaningful engagement with the world around you is one of the key ways to ensure your wellbeing during retirement. Creative and cultural activities account for 5.75% of an individual’s wellbeing in later life (60+).

In need of some inspiration? We’ve put together a list of our top 10 big ideas for your retirement that will be sure to boost your happiness and wellbeing:

1. Exercise

It’s all about keeping your body and mind active during retirement. Joining a local class, group or gym can also provide another social avenue for you to explore, as well as the health benefits.

Exercise doesn’t have to be strenuous. A little bit of movement every day, from gardening to walking, it all counts towards a healthier retirement.

2. Volunteering

Helping your local community is deeply rewarding, as well as providing plenty of benefits to both your mental and physical health.

There are many volunteering opportunities out there, so you can afford to choose an organisation that is the perfect fit for you, your schedule and your values.

3. Socialising

Seek out local social organisations. Lots of communities organise group events for those in retirement. It may be daunting to put yourself out there in front of new people, but it can be very fulfilling to meet new friends and talk to people who are at the same stage of life.

For example, there are 1,050 local University of the Third Age (U3As) across the United Kingdom, including several in the Nottingham and Derby area. The groups have a wide variety of activities for the retired and semi-retired which aim to bring together those that have a zest for life and want to continue learning and experiencing new things.

4. Travel

Is there a part of the world that you’ve always wanted to see but not had the time, money or courage? Well, retirement is the perfect opportunity to revisit this aspiration. There is no time like the present. If you see yourself as an avid explorer, or if you prefer adventures a bit closer to home, there are always new places to uncover.

Also, don’t forget travel agents can ease this process for you. They will often find deals that make the holiday almost the same price as if you were to organise it yourself, only, you don’t need to lift a finger! We highly recommend Trailfinders.

5. Hobbies

Why not revisit old, forgotten interests that you were too busy to pursue pre-retirement? Spend time doing the things that you enjoy. From yoga, painting, taking a course, going fishing, joining a choir or any number of alternative hobbies, the possibilities are endless. And, if you’re unsure about what it is that you enjoy then dabble in a couple of hobbies that are new to you until you find the one(s) you like most.

6. Family and Friends

Use the free time you have to be present with friends and family. If you have grandchildren, you could attend their school plays and sporting events, or take them on days out. It’s also important to regularly meet up with friends, perhaps over a coffee or at a social event, and make the most of being in each other’s company.

7. New ventures

Have you ever thought about starting your own business? Perhaps you’ve had a lifelong hobby or interest that you’ve wanted to pursue as a career. Now that you’re not working under someone else’s management, could this be the time to be your own boss?

The Office for National Statistics (ONS) have identified a sharp rise in the number of over 65s who are self-employed, with a staggering increase of 310,000 between 2001 and 2016.

If this is something that you would like to look into, then it would be wise to seek the guidance of a financial planner who can support you through this process by providing great advice for your business.

8. Bucket list

Make a list of all the things you’ve wanted to do but couldn’t get around to doing. This process of reflecting on what you have done and what more you would like to do is essential for your personal growth, even in retirement.

Start by setting goals then one-by-one cross off the items on your list. Revisit the list regularly to make sure they don’t get forgotten about again.

9. Discounts

One of the benefits of growing older is the increased number of discounts available. From going to the cinema, or eating out, there are lots of savings to be made. Some may be time-restricted, so do check the terms & conditions. Otherwise – have fun!

The popular consumer group, Which?, have conveniently put together a list of the key perks and benefits of being retired. So, why not make sure that you’re aware of all that’s on offer for you in retirement.

10. Money management

As we live longer and longer, the length of retirement also extends, meaning your money needs to go even further.

The majority of our clients reaching this stage of life come to us wanting a happy, stress-free retirement. We understand that money can often be a burden if you are approaching, or already in retirement. What we provide is a service that drastically reduces the weight of this burden so that you are free to live a happy life in retirement, knowing that you can afford to.

As financial planners, we can only keep emphasising the importance of what we do and the value of our advice.

If you would like further information on how to make the most of your retirement then don’t miss out on our upcoming workshops in Nottingham and Derby. The speaker will be our expert financial planner, Tina Winter, who will be providing insight into the essential tools and factors to consider to ensure you have a secure but fulfilled retirement.

Or, if you would like a financial plan, or want to make changes to an existing one, then please get in touch to speak to one of our financial planners.