- November 26, 2016
- Posted by: Ethica Private Wealth
- Category: Blog
When most people think of enjoying a great retirement, they often think of having a fat nest egg and great health so they can get out and enjoy the activities they truly love. Sure, these things certainly do help, but are these things the only way a person can enjoy their post-work life? We’re going to talk about five ways anyone can have a great retirement (or at least enhance it), and these tips really aren’t a secret.
- Have a predictable income.
Who can deny that more money makes us happier? Perhaps though, when it comes to retirement, more money and steady cash flow often means we can retire earlier and won’t have to worry about the fact that we do not have a job. We also won’t have to rely on anyone else, such as the government, to take care of our needs. The sooner we start creating a financial plan that helps our money grow, the happier we’ll be when it comes to our retirement years.
- Don’t stop working.
Then what’s the point of retirement? There is a difference between working because you have to and working because you want to. Seniors who retire, but decide to work part-time as a way to stay physically and socially connected is actually a boon to their happiness during their retirement years. Many seniors have to work in their golden years, which often affects their ability to enjoy what should be their post-work life.
- Develop hobbies.
Several studies have shown that busy retirees tend to be much happier. However, engaging in more social hobbies, like traveling and sports, is much better for the quality of our retirement. Doing too many hobbies that isolate cause many retirees to be unhappy.
- Rent later in life.
During our working years, owning a home often brings us joy, but that has been shown to change as people age and move into their retirement years. Living in a apartment can provide more opportunities for socializing and doesn’t feel as isolating as living in a house. However, it really could depend on where a person lives, the size of their home, and whether or not they live alone.
- It’s okay to keep your kids at distance.
Independence for all is actually quite healthy. However great the idea might have seemed at the time, many studies have shown that living close to your kids isn’t recommended. This isn’t to say you should never see them, rather, it’s best to have separate lives. All too often adult kids and even bored retired parents get too involved in each others lives, which can put a strain on the relationship. This is especially true for familial relationships that are already strained for one reason or another.
If you live on the Sunshine Coast and want to put together a strong financial plan for your retirement years, talk with one of Ethica’s financial planners to see if they can help you get a healthy start on your retirement goals and dreams. For more information, visit https://www.ethica.net.au/about/why-choose-us/.