Have You Planned Ahead for Your Retirement Lifestyle?

But there’s a whole different aspect of retirement to which many retirees have given very little, if any, thought. We’re talking about the lifestyle you will lead in retirement.

A Difficult Adjustment

Most retirees have spent their entire adult lives—perhaps 40-50 years or longer—working. For some, the adjustment to retirement can be abrupt and difficult. When you’ve spent five or more days a week, 48 to 50 weeks every year, getting out of bed in the morning and going to work, it can be a real adjustment not having a job to go to every day.

Therefore, it’s important to start thinking about the kind of lifestyle you want to live in retirement well before your last day at work. For example:

• Are there any hobbies you enjoy that you’d like to pursue more actively? These might include painting, arts and crafts, scrapbooking, home renovations, decorating and remodeling, square dancing, woodworking, antique car restoration, or writing, just to name a few.
• Do you enjoy certain sports or recreational activities? Sailing, tennis, golf, horseback riding, jogging and power-walking, and bowling are a few sports that are popular with retirees.
• Do you like to travel? Of course, your savings and budget will play a large part in where you can go and how often you can get there. Start out by making a “bucket list” of all the places you’d like to visit one day, and begin planning for how you can make these trips a reality.
• Are there any charitable causes that you’re passionate about? Retirement may offer you abundant opportunities to spend time helping out the charities and other causes you believe in on a volunteer basis.
• Do you have any entrepreneurial ambitions? Maybe you’ve been noodling an idea for a new business venture, but never had the time or energy to pursue it. Retirement might offer you just the opportunity.
• Would you like to spend more time with family? This is one of the main priorities for many retirees. If it’s important to you, start talking to your children, grandchildren or other family members about it well before your actual retirement so you can plan for this while minimizing potential disruptions in their family lives.

Financial and Lifestyle Planning

Planning financially for your retirement is important, of course. Without financial resources, none of this would be possible. But it’s just as important to plan ahead for your retirement lifestyle. Doing so will help ensure that you reap the most enjoyment and satisfaction possible out of the retirement years you’ve been eagerly anticipating for so long.