- November 18, 2018
- Posted by: Ethica Private Wealth
- Category: Blog
Retirement is a huge change, and for some, it can come as a real shock to the system. Although you may have spent a long time imagining what retirement will be like, you may also be in for a few surprises. In this article, we list some of the most unexpected and exciting things you may experience when you retire.
For most people, retirement is something you look forward to for a long time. You imagine yourself sitting in the garden, making a cup of tea or reading a book – but this can get boring fast. Having so much time on your hands can soon become tiresome so, in the run-up to retirement, it’s a good idea to do some thinking about how you might spend your time when you have it. When you have no schedules to keep to and no deadlines to meet, the world becomes your oyster, but make sure you make the most of this newfound luxury.
When most people imagine their retirement, they probably imagine a mix of quality time with family and quiet contemplation but, the truth is, when you retire, you will have a lot more time to yourself – maybe even too much. Just because you no longer have to work, it doesn’t mean that everyone around you can stop too. Some of your friends, your children, and your grandkids will be working or be at school most of the time, which means you could end up feeling lonely. There are lots of things you can do to combat this though. The most common thing to do is join clubs or groups with other retirees who have as much free time as you do.
3. No Queues
If you’re somebody that’s always worked during the week and had weekends off, you may be pleasantly surprised by your retirement schedule. Weekends are infamous for being the busiest time at popular attractions as children are off school and parents and other adults are off work. However, when you can go to the beach or the mall whenever you desire, you may find that you get a more relaxing experience. You will be able to get a parking space without a struggle, eat at your favorite restaurants without a reservation, and enjoy whole stretches of sand to yourself (with no screaming toddlers). Sounds pretty nice, doesn’t it?
4. The Desire to Work
For most of our adult lives, working is a requirement rather than something we choose to do. When you retire, you may feel like you’ll never want to work again, but this could easily change. When you have the free time to choose what you want to do, and the financial security to try your hand at anything, you may find that you have a new found desire to work. A lot of retirees find themselves returning to work in some capacity. This doesn’t mean that you will be sitting behind a desk all day, but you may choose to do volunteer work, start your own business, or share your skills with others. There’s absolutely nothing wrong with working in your retirement and it can really help you to maintain a sense of purpose whilst still getting a much-needed break from your previous 9-5.
Read More: 6 Ways to Earn Money During Your Retirement
5. Discovering New Skills
When you work for the majority of the week and juggle family life and a social life alongside it, it can be hard to find time to pursue hobbies that you may be very skilled at. When you retire, you’re granted a gift of extra time that you can use to learn new skills and develop existing ones that you may have been neglecting. You may even surprise yourself, as you could find that you’re really skilled at things that you’ve never even tried before. A lot of retirees turn to art or music in their retirement to stay occupied and have fun.
6. Spending money faster
When you first retire, it can be really easy to spend more money than you originally planned. When you’re busy working, there are fewer hours in the day where you could be spending money, but this all changes when you retire. In the first few months of your retirement, you may find that you spend on things like eating out and activities more, but if you are savvy about your budgeting, you should be able to get back on track once you’ve enjoyed your post-retirement ‘honeymoon’ period.
7. Lack of purpose
When you have a full-time job, a lot of your decisions are made for you, like what time you get up in the morning, what time you eat lunch, or what days in the week you have off. When you retire, this is one of the biggest changes that you will experience. Suddenly, your time becomes your own, and it’s up to you to decide what you are going to do and when. Although this seems like an easy task, if you don’t have set goals in place, it can be hard to motivate yourself to do anything at all. It takes time to adjust to a new way of doing things, but it always helps to set yourself short-term goals and make plans, even if you don’t feel like doing anything.
8. The World Becomes Bigger
A good portion of retirees will choose to use their retirement years to travel and see the world. Even if you’re not inspired by the idea of long-term travel, retirement still opens up the opportunity for you to visit parts of the world you had never considered before. Limited vacation time can mean that we have a very narrow choice of destinations during our working years but, when you retire, the world really opens up. It doesn’t matter how long the flight is or how long you stay there because you have as much time as you need.
Retirement can be the best time of your life if you are properly prepared
Proper planning and preparation can help to ensure that you make the most of your retirement years however you wish to spend them.
If you need some extra support getting your retirement planning on track, why not contact a retirement planning specialist like the team at Ethica Private Wealth Specialists for help, advice, and support.