How do you know when you are ready for retirement?
The focus is normally, do you have enough funds saved? But just as important, is the question… ‘do you have all the other details in place and ready to go?’
It is a time of big changes in your life, not only will you not be going to work every day, which can a big part of your social life, but there will be other adjustments in your personal life.
These are some of the “other details” that should be in your retirement planning checklist.
1. Life after retirement
Decide what age you plan to retire and determine what daily activities you are going to do to keep you active. Busy retirees tend to be happier retirees. One study showed that the happiest retirees engage in three to four regular activities and the retirees with the busiest schedules tended to be the happiest. So, while retirement can certainly be a time to relax, it should also be a time to do the things you enjoy.
2. Enjoying retirement
Create a bucket list, this could include the big holiday, visiting family that are interstate or overseas. Sporting events or concerts to attend. Spreading these goals over time will help with maintain a balance of everyday life and looking forward to a special occasion.
Look after your health. The importance of your health when it comes to your happiness can’t be overstated. In fact, in a recent study, having good health was outranked financial security as the most important ingredient for a happy retirement, but the two are more intertwined than you might think.
So, keep moving, join a gym together or a local park gym or a jogging trail and start walking. Not only is it good for the heart, muscles, blood pressure, and bones, it’s also good for the brain.
Relationships are an incredibly important part of an enjoyable retirement. A happy retirement, can start with discussing your ideas of retirement with your partner, you both may have different ideas on what you are going to do in retirement, so find out if you are both on the same page. Letting your family know your plans as well, that way expectations of visits or looking after grandchildren are discussed.