Retirement can be incredibly daunting, or incredibly exciting depending on how you choose to look at it, and it can be a very challenging time emotionally too, as you can feel that you no longer have a purpose in life. It can also be easy to become reclusive after the initial novelty of not having to get up for work wears off, leaving you with more free time than you could have imagined while you were tied to a full-time job. In order to make the most of your retirement and allow it to become what you hoped it would be, you need to follow a few important steps.
One of the most important things you need to do in retirement is maintain your social life, or if it had been previously limited due to an overwhelming number of commitments, start to build one for yourself. Without the structure that a full-time job gives you, and the excuse to leave the house and spend the day with peers, it is easy to become reclusive. Now is the time to finally give your family the attention they deserve. Help your children out with their responsibilities and play a key role in the lives of your grandchildren.
Make contact with siblings if you’ve fallen out of touch; you’ll probably find that your relationships transform into something new at this age. As well as family, it is important to try to build a circle of friends of a similar age that you can share thoughts and ideas with, as well as attend social events with. Try to stay connected to your local area and events that might be taking place, in order to meet new people.
Just because you have retired, doesn’t mean you have to take a back seat in society or in terms of your own personal development. You still have many years left and they can be just as fulfilling as those previous to your retirement. Now, you have all the time in the world to dedicate to learning new skills that you wish you’d had before, and to hobbies that interest you. It is important to stay up to date with what is happening in the world including technological developments; you can still benefit from these yourself. If you need a bit of extra help affording some of the new technology, take a look at GoBear. It is important to get out and about and experience the natural world too, as this can give you so much perspective if you’re struggling with existential issues.
If you are finding that you are having quite an emotional response to your retirement, it can help to exercise mindfulness in order to take control and reconnect with yourself. Your identity can come under fire during retirement if you feel that you no longer serve a purpose in society, so it is important to still contribute where you can. For example, you could do some private tutoring or run group sessions designed to help people in need.
Finances can suddenly become a much bigger concern than they once were after you retire. Losing out on a regular weekly paycheck can leave you struggling, especially when unexpected expenses come up. A reverse mortgage, which is a special retirement loan, can help you improve your financial situation. When you apply for one, a reverse mortgage calculator defines the parameters of what you can borrow. Then you can receive up to that total amount to spend on anything you want or need during retirement. How you receive reverse mortgage funds is up to you, but a popular option is monthly installments because that option somewhat mimics receiving regular paychecks. For as long as you remain on the property and funds are still available, you can receive those payments without having to pay back a specific amount by a certain date. However, the loan will come due if you move to another location.
Retirement doesn’t have to signal the end of your connection to society, if anything it is an opportunity to become a bigger part of it now that you have the free time to do so. It is important to keep focusing on developing as a person and socialising with family and friends. For more retirement tips, take a look at etspeaksfromhome.co.uk.
Disclosure: This is a featured post.