Do you have a retirement plan?
If you have one, you’ll probably enjoy a happy and fulfilling retirement. If not, you likely won’t.
What is a retirement plan? Put simply, it’s an agenda for what you will do each day.
We know … you retired so you could get AWAY from agendas. Retirement means freedom, right?
Absolutely, it does. But without a plan, you’ll just be drifting. And that’s no way to live.
The difference now is, your plan is entirely up to you – not your teachers, nor your boss. In retirement, you choose how to fill your days.
But you still need a plan. With your retirement, like most everything else, failing to plan means planning to fail.
So, how do you create a retirement plan? First, decide what’s your vision for retirement.
Retirement is different for each person. People have very different feelings about retirement.
For some it’s an exhilarating prospect, something they’ve been looking forward to for years.
For others, it’s a time of uncertainty; they wonder what to do, and how to fill up the time.
Millions of people, meanwhile, are afraid of retirement.
But retirement isn’t something to fear. To be sure, it is a major life change. In fact, retirement is one of the most stressful life events, and it’s natural to have anxiety about a change of that magnitude.
But the truth is, retirement is a time of freedom and opportunity. For maybe the first time since you were a young child, you have total freedom: you’re no longer required to be somewhere every day, either in school or at work.
If you’re feeling nervous about retirement, a retirement plan is a great way to overcome that. Whether it’s a hobby, volunteerism, travel, part-time employment, or working around the house, keeping your mind and body productively engaged is a great way to defeat anxiety.
What Can Happen If You Don’t Have a Plan
Without fun and meaningful activities to fill the day, many retirees become bored and even depressed. Many self-medicate to relieve the boredom. Alcohol abuse is a widespread problem among retirees: One-third of older adults who are alcoholics became that way after retirement.
Don’t let that happen to you; a happy retiree is a busy retiree. We’re not just talking about bridge on Tuesdays and bingo on Fridays, with the occasional gambling trip to Vegas – though you can certainly put these on your schedule.
Things to Do Right After Retirement
Here are some things many people want to do, especially in the first few weeks or months after they retire.
Working Around the House
Now you have time to tackle that to-do list you’ve been putting off. You finally can get everything done in one go, instead of working a bit here and there as you have time. You can clean up the garage, organize your CD collection, declutter your storage room, or refinish the deck.
Relocate
After retirement, many people want to move – to live in a smaller home with less upkeep, to be closer to family, or to a less expensive location. Moving, whether across town or across the country, can open up doors, create a new environment, and give you things to explore and more things to look forward to.
Sleep!
You may have had a demanding job and worked long or odd hours. Many people are chronically sleep-deprived. After retirement, and with the kids grown and moved out, now’s your chance to catch up on Z’s and rest your body and mind.
Things to Do Later in Retirement
Let’s look at things you can do in retirement; it’s a long list. We’ll start with some of the most popular hobbies among retirees. They appeal to many retirees, and you might find them worth considering as well.
Hobbies
Arts and Music
If you’ve spent your career working the analytical side of your brain, retirement may be a good time to rev up your creative side. Pick up a canvas and paint brush, or dust off the guitar that’s been sitting in the corner. They say you’re never too old to learn to play the piano, and that is true.
For those who prefer more crafty pursuits, woodworking and carpentry are good options.
Dancing
Whether ballroom, jazz, or salsa, dancing is an excellent way to improve coordination and get a bit of exercise while having a ton of fun.
Travel
We’re not necessarily talking about an around-the-world cruise. Many older adults enjoy walks in the neighborhood, exploring the city and the state, or hiking through the woods or local mountains.
Sports
Fishing, golf, and cycling are popular pastimes, especially for men. Volleyball, swimming, bowling, softball, and exercise classes are also favorites for many people.
Gardening
If you have an interest in getting close to nature and have some patience, gardening may be for you. Planting flowers or vegetables and watching them grow can be very rewarding.
Photography
Capturing people, objects, and moments with your camera is a special hobby because it enables you to keep what’s meaningful in your life. It’s also an art form, so you can express yourself and share your vision of the world through your photographs. Photography encourages you to get out into the world and explore new vistas. Fresh air, exercise, taking in new scenery – what could be better?
Education
Many retirees are furthering their education. Some want to get that degree they never got to finish earlier. Others just want to enrich their lives. Every state has opportunities for residents aged 60+ or even younger to attend college courses at no or very little cost. And you may not be the only older adult in the classroom. At the University of Minnesota, for example, 500 retirees are enrolled in classes.
Part-Time Employment
You may want to start a second career, or maybe just get a part-time job. If so, you have plenty of company. Increasing numbers of older adults are staying gainfully employed. In fact, the fastest-growing demographic in the workforce consists of adults over the age of 75.
Many employers value the experience and reliability of older workers; for their part, older adults appreciate the opportunity to stay productive, share their skills, and supplement their retirement income.
Here are a few of the most popular employment choices for older adults who’ve left the full-time workforce.
Consulting
You may have valuable professional skills you’ve developed over your career. Consulting is a great way to share your knowledge and experiences with others. Whether it’s running a business, accounting, working with Excel spreadsheets, or doing taxes, consulting is very popular among retirees.
Teaching
Along with consulting, teaching is a good way to share your knowledge and skills with eager learners. You may want to stand at the chalkboard, but there are also many online opportunities for teachers. Whatever your subject, you’ll likely find large group of potential students.
And your audience isn’t limited to the U.S. The Internet enables you to reach a global audience. Teaching English as a second language online is a popular gig for American retirees.
Bookkeeping
If you have a background in accounting or bookkeeping, or simply have an aptitude for numbers and an eye for detail, every business needs bookkeeping services. You’ll most likely land a position with a small company with relatively simple accounting needs.
Administrative/Virtual Assisting
Like bookkeeping, every business needs administrative services – the unglamorous but essential tasks that keep an office running. Tasks like tracking schedules, making travel arrangements, and recording memos and meeting notes. You may be providing services to senior executives at a large company or to the owner of a sole proprietorship.
Retail
Whether it’s a checkout assistant at a department store or a customer service rep at an online store, retail positions are attractive for retirees. The work is usually low-stress and you have a flexible but predictable schedule. You might stand at a checkout counter, work at a call center, or chat online with customers from home.
Many people are concerned about the loss of identity when they retire. In U.S. society, our identity is often tied to our occupation. You still have your former professional role after you retire; you’re just not defined by it. It’s just a part of your identity now.
You have the time to do everything you couldn’t when you were on the job. It’s a brand-new way of living: doing what you want, when you want and never having to show up for anything unless you choose to do so. Retirement is truly what you make of it.