Make a List

Many of us spend years striving for and thinking about the freedom we’ll have in retirement; days spent frolicking with zero commitments and no one to answer to seems so grand. Unfortunately, the reality of retirement can be quite different. Many of us suffer from the loss of work identity and are unsure of how to bide our time.

So, rather than drift from day to day which can lead to depression and ailment, we recommend creating a list of ideas and activities of how you’d like to spend your retirement and to start doing so immediately.

Have you always wanted to try acting or learn to play the guitar or volunteer at a local organization? Put it on your list. Is there a destination you’ve always wanted to visit or maybe there is a book inside you waiting to be written? Include those too.

The options for biding your time are endless and beginning to develop hobbies before retirement will certainly assist in making the transition to retired living much easier. And remember, retirement should be anything but boring!

Helpful Tips

When planning and preparing for retirement, one must remember that you will have at least an extra eight hours a day to account for and occupy yourself with. One study found that 28% of retired men and 25% of women filled their extra time with tending to chores and projects around the home while only 12% and 8% (accordingly) pursued hobbies. This could explain why more than 30% of those same retirees returned to work in some capacity after retiring.

Check out the following tips to help you avoid boredom and experience a fulfilling retirement:

  • Break down goals in two year increments: Figuring out how to occupy yourself for the rest of your life can prove daunting. Instead, break it down and come up with a plan for the next couple years.
  • Start pursuing interests and developing hobbies before retirement. We all know the old saying, ‘You can’t teach an old dog new tricks.’ Well, it’s especially true in retirement. Avoid laziness by incorporating activities into your routine before retirement.
  • Be financially prepared: According to a survey by the BMO Wealth Institute, Baby Boomers are, on average, coming up approximately $400,000 short of the forecasted nest egg necessary to live a comfortable retirement. Avoid financial struggles by creating a vision and being prepared.

BOTTOM LINE

Although some amount of anxiety and uncertainty is inevitable (and perfectly normal) when first embarking on retired living, these feelings should be short lived. To avoid a long-term rut, get out there and begin developing and pursuing some interests. Why not start a Bucket List of your own or with your significant other or contact the local community theatre to find out when they’re holding auditions. Whatever you choose to do with your time, remember to be prepared and try to pursue endeavours that keep you happy and healthy.