Are reaching the end of frustrating work days, annoying coworkers, and long hours with no extra pay? Are you ready to kick back, relax, and enjoy your hard-earned retirement? If so, you might feel as though you need the best retirement advice. Retiring is a big step (even though it may seem like the easy step to some people) and it’s best to be prepared for it.
The best retirement advice has been carefully curated and we hope that they’ll help you feel more confident and informed about the retirement process. Below are the six best retirement advice for seniors:
Advice #1: Be knowledgeable about your financial situation
It can be easy to fall into the trap of simply ignoring anything to do with money once you retire. You’ve saved up plenty in your retirement fund, right? Well, even if you have more than enough money, it’s still a good idea to pull up your banking information, figure out exactly how much money you have…and then start budgeting.
Yes, budgeting. You may have left the daily grind behind, but doing the hard work of creating (and sticking to) a budget can save you many headaches and problems in the long run. While retirement is usually your time to have some fun, maybe take some long-needed vacations, and generally relax, you also want to make sure that you have plenty of funds for day to day living expenses as well (things like rent or a mortgage, utility bills, medical bills, etc).
By planning ahead and creating a budget, you’ll be better prepared to simply enjoy your retirement years.
Advice #2: Live healthier
You want to enjoy your retirement, right? Well, the best retirement advice is to make sure that you get the most out of these coming years is to get in shape and eat better. This might sound counterintuitive – have fun by going to the gym? – but it actually makes sense. When your body isn’t in a good place physically, then sometimes it’s hard to be in a good place emotionally or mentally.
When you eat a few more healthy foods a week and gently push your body toward greater fitness, you can be healthier and happier. And that will only make retirement more fun, not less!
Advice #3: Plan to spend more time with your loved ones
Many people who reached retirement age have children and even grandchildren. (For those of you who don’t, stay tuned. We have some ideas for you too.) Now that you’ve retired, you’ll finally have more quality time to spend with your family. There are so many things you can do with them – you might have trouble choosing! But whatever you decide, make sure your family knows that you’re eager to spend more time with them (assuming, of course, that you are). Today’s fun will be tomorrow’s memories and you won’t regret it.
Now, if you don’t have children and grandchildren, the above tips can still hold true for you. Spend time with good friends and maybe extended family – aunts, uncles, cousins, nieces, nephews, etc. There are so many people out there whose lives would be brightened if you spent more time with them. Please don’t ever forget that.
Advice #4: Renew your will and power of attorney
Nobody likes to think about their own passing – especially not when you’re excited to begin your retirement and really enjoy life. But you need to make sure that your will and other legal matters are completely up to date before or at the beginning of your retirement.
Things have probably changed in your life since the last time you had your will drafted – or since you decided who would get power of attorney. Because of this, it’s an excellent idea to contact your lawyer and go through all legal documents thoroughly (making changes where necessary). Don’t hesitate to get this done!
Advice #5: Make sure you have as much information about the retirement process as possible
This blog post is a great place to start, right? But you’ll probably want/need something a little more comprehensive as you look forward to retirement. Check out some books at the library that deal with retiring. Talk to other retirees, if at all possible. Research the common psychological and emotional side effects (good and bad) of retiring and then strategize how to deal with those effects. Look into transitioning to a part-time job for a short time if you think that cutting off all work will be too much at first.
Overall, make it a priority to understand exactly what retirement will entail. The more you know, the less surprises there will be.
Advice #6: Create a bucket list
Yes, retirement is partly about money: saving it, spending it, budgeting it. At times, it can seem like everything you do to prepare for retirement has to do with finances. But at the same time, you need to remember that retiring is supposed to be a happy, even joyful time in your life. You’ll finally have the chance to do many of those things you’ve always wanted to do.
And that’s where the bucket list comes in. Write down a list of all the crazy things you’ve been itching to try for years (or even decades). Then go and live that list and have a bunch of amazing experiences. You deserve them.