Here we define the five pillars of retirement, the five things we believe you need to have a fulfilling and successful retirement. They are:
- Physical health
- Financial resources
- A comfortable home
- A fulfilling lifestyle
- Spiritual health
Physical health and financial resources are self-explanatory. It’s challenging to have a quality retirement without a basic level of physical health and financial resources, at least enough to enjoy your life and pay your bills.
A satisfactory home is also great to have in retirement, since you’re no longer working and will spend more time at home than you did previously. Many people change to a new home or even move across the country or overseas after retirement.
A fulfilling lifestyle and spiritual health are often overlooked, but they are as crucial to happiness in retirement as the other aspects. Many people lose their sense of identity and purpose when they leave the workforce. Without these, many retirees experience anxiety and depression. But there are many ways to regain your sense of purpose and usefulness.
Ideally, you will want to have at least a plan for obtaining and keeping these five things before you enter retirement. However, many people find their needs change as they go through their retirement years.
These pages are intended to offer general guidance for each of these essential parts of retirement.