You’ve retired from work, you’ve waved a cheerful goodbye to your colleagues and you’re ready for the rest and relaxation you so rightly deserve. It’s exciting! For a couple of weeks. Then the doubt sets in.
What will you do with your life, you might find yourself asking? How will you fill the long daytime hours? How will you manage without the comfort of your routine? Where will you find your purpose, if not from work?
Peñaranda Planning – it’s not just financial
Whenever we talk about retirement, it’s all about the pension. If you have enough in your pension pot when you retire, you’re all set, right?
Many retirees simply aren’t prepared for how significantly their life will change, and many, while not missing work per se, will certainly miss the sense of purpose it offered. And, with life expectancy on the rise, it’s daunting to contemplate the next 20 to 30 years without any of the structure around which you’re used to organising your life.
http://mangos-falmouth.co.uk/product-tag/sweet/?add-to-cart=2566 ‘Reinvent’ yourself
A European study funded by the Erasmus program argues that we should start preparing for retirement as early as 50. Suddenly stopping work after spending a lifetime focused on your career, it argues, can be the catalyst for depression and other mental health issues. That’s why we need to ‘reinvent’ ourselves in our 50s by discovering new passions and interests, improving our mental and physical health, and generally forging a life for ourselves outside of work in the run-up to retirement.
So, what steps can you take to prepare for a happy retirement?
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Retired or not, you’ll still want and need similar things in life: a sense of purpose, social interaction and activities that interest and stimulate you. With this in mind, here are our tips for preparing for a fulfilling retirement:
Wind down in stages – rather than going from full-time to retired overnight, why not try reducing your hours first, giving you the fulfilment of work combined with the free time to pursue other interests?
Exercise your body – and your mind – experts have long extolled the virtues of exercise for our physical and mental health. Getting into the habit now could really help your emotional state when you retire.
Be a social butterfly – in addition to solitary hobbies and interests, joining groups and clubs can help you develop social networks outside of the workplace.
Get a furry friend – as well as keeping you company indoors, a pet (such as a dog) will give you an incentive to get outside in the fresh air.
Don’t neglect your pension – while preparing emotionally is a big part of retirement, the money still has to be there to allow you to live life to the fullest.
Would equity release be right for you? A way of supplementing your retirement income using the value tied up in your home, although not right for everyone, we can help you explore your options.
We do the finances, you do the rest
That’s why we’re here! We can help you sort out the financial stuff to provide you with the resources to spend your retirement free from money worries, so you can concentrate on enjoying your later years. Why not give us a call?
You will need to take legal advice before releasing equity from your home as Lifetime Mortgages and Home Reversion plans are not right for everyone. This is a referral service.
The value of investments and any income from them can fall as well as rise and you may not get back the original amount invested
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.