Michael Rubin from The Balance talks about what you should consider for your retirement to get the most out of this time in your life.
While most people look forward to all of the new found free time that retirement brings, we’ve learned that the “honeymoon” period of retirement only lasts 6-9 months. After that time period retirees report feeling the urge to become more productive.
The first step is determining what you want out of your retirement. Consider what type of personality you have, what your favorite hobbies are and what brings the most joy. Studies have shown that retirees who keep busy with regularly scheduled activities tend to lead happier lives during retirement. Just like in all stages of life, keeping engaged can help with your physical and mental health and even help reduce the risk of developing diseases like Alzheimer’s.
Another reason to start thinking about how you want to spend your time in retirement before you get to that stage is it will help determine what kind of discretionary income you should be saving for. Gardening and volunteering come with less cost than traveling and golfing, for example.
Some popular categories for retirees’ pastimes include part time work, volunteering and exercise. While some have achieved financial independence by retirement age, others find a part time job can help add to their financial security. A need for the income or not, some find this responsibility of a part time job to be rewarding. Volunteering your time can be a great way to have a scheduled activity on your calendar, give you a sense of responsibility and reward you with engagement for a cause you are passionate about. Exercise keeps you mentally and physically healthy and can be a social activity as well depending on what type you enjoy. Retirement is a great opportunity to try out a new physical activity you might not have had time for before, like biking or golfing.
While the Delaware Beaches are enjoyed by residents of all ages, there are a multitude of activities that are well suited for retirees. There are also a wide range of housing options including those who wish to around other retirement aged people to those looking for a private retreat on the oceanfront. We would love the opportunity to show you everything our beach towns have to offer. Give us a call at 302-541-5207 or email us at leslie@lesliekopp.com.
Rubin, Michael. “How to take steps towards a happy retirement” The Balance, 15 July 2019, https://www.thebalance.com/how-you-will-spend-your-retirement-2894357
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