10 Ideas for retirement plans

10 idea for retirement

Whether you’re about to retire, semi-retire, or simply looking ahead, people often have very different ideas when it comes to their retirement plans. Some people prefer to travel, while others prefer to stay local. Nowadays, it’s also increasingly common for people to start a brand-new business venture once they retire. For some inspiration, we look at ten ways you could spend your retirement…

Retirement is a time to enjoy the things you never could before.

  1. Improve home living

    Retirement finally gives you the chance to do all those jobs you’ve never got round to doing. A great way to start is by carrying out a full declutter of your home. Empty wardrobes and cupboards and check your loft space. Create three piles – Keep, Bin, Charity – and try to recycle as much as possible if you have things to throw away. You could also look at upcycling old furniture to give items a new lease of life.

  2. Get fit and flexible

    It’s important to maintain a good level of fitness as you get older. For some people, retiring allows them to do all those fitness activities they never had time to do. Join a local fitness group or dance class – there are usually groups for different age ranges. Group fitness classes can be an excellent way to socialise too.

  3. Explore your local area

    When working full-time or juggling work with childcare, it’s surprising how few of us see our local area. So, why not use your retirement to see all those places you’ve never had time to visit? Go to local parks, wildlife sanctuaries, museums, and art galleries. Explore local countryside and woodland via trails, forgotten footpaths, and walking tracks around reservoirs, rivers, and canals.

  4. Help the environment

    If you’re passionate about helping the planet, you can get involved in many ways. The Wildlife Trusts across the UK and forestry organisations are always looking for volunteers. In addition, you can get involved in a range of projects, from tree planting and fence building to counting birds and butterflies.

  5. Research your family tree

    Genealogy has become increasingly popular over recent years, partly due to popular TV programmes and simple online systems like Ancestry.com, which allow you to search family records with relative ease. However, if you’ve ever attempted this while working, you will have realised it can be an uphill task. So, why not use your free time in retirement to search your family’s past? You never know what you might find!

  6. Grow your own

    Many people discover a passion for gardening once they retire. Growing your own fruit, vegetables, flowers, and plants can be a very rewarding pastime. You may have found gardening more of a chore in your working life. But when you have the time to devote to this outdoor activity, you could find this to be very rewarding.

  7. Embark on an overseas adventure

    If there are places you’ve never visited, your retirement gives you the chance to do so and the freedom to stay for as long as you want without work-related time constraints. In addition, numerous travel operators offer group tours to locations like the USA, India, Africa, and South-East Asia. And if you’re worried about your carbon footprint, you could look at overland travel by train across European destinations.

  8. Start a small business

    Some people miss the buzz of working life and like to stay busy. Starting a small venture can allow you to do something you’ve always wanted to do or to make money from a hobby. In addition, some companies give you the chance to sell products as a distributor. If you’re making items to sell, think about how and where you will sell your products; you could improve your business skills with a course.

  9. Learn a new skill or activity

    Whether you’ve always wanted to learn Spanish, throw a pot, or dance the Rumba, now’s your chance to learn new skills! Keep a notebook handy, jot down any activity ideas, and then see what’s available in your local area. If certain activities are only available further afield, you could look at weekend workshops and retreats.

  10. Support the community

    Giving back and supporting others is a very rewarding way to spend your retirement. Whether helping raise money for a local community group or regularly volunteering with a charity, a little help goes a long way. The easiest way is to choose an organisation that means something to you for personal reasons. Some examples could be Cancer Research, Alzheimer’s Society, British Heart Foundation, or an animal rescue charity.

Age is just a number, but retirement is one of the greatest gifts to mankind.

When it comes to your retirement plans, you’ll probably have some ideas of your own. So, what can you do to help you achieve your aspirations? If your plans need funding, it may be time to revisit or create a new financial plan. Our financial planners always enjoy talking to our clients about their retirement goals. Together, let’s help you realise your dreams. 

Would you like help with your retirement planning? Get in touch to speak to our financial planning team.