A golden retirement does not necessarily mean pristine beaches and luxurious villas, even though that is the stereotype image that comes to mind.
Your retirement means a lot more than just money alone. Here are five secrets to a truly happy and successful retirement.
More than just cash
While financial security during retirement is vital, it does not have to become a perennial cause of stress for you. To begin with, you should recognize that you are likely to require significantly less than your current annual income during your golden years.
Focus on living within your means and identify hobbies, pastimes, and productive pursuits that are more fulfilling but cost little.
With a conservative approach, you can draw up a realistic financial plan, one which will take out stress from the equation and help you maintain a reasonably good lifestyle during retirement.
Prioritize health and well-being
One of the major worries for retirees is that the medical expenses can get beyond their reach as they get older.
However, if you remain proactive about your scheduled health checkups, regularly take your medications if you have a medical condition, and keep tabs on your overall health and fitness, you can minimize unforeseen health troubles.
Include exercises, sports, and physical activities in your daily routine to maintain your fitness levels. If you plan to relocate when you retire, consider the local medical facilities and affordable care options in the area before you make a decision.
Relationships are priceless
Thriving personal and social relationships do not cost money, and they can add far more value to your retirement than anything that money can buy. Preserve your old social relationships and invest in them with renewed enthusiasm on retirement.
If you are going to move to a new area, discover opportunities to socialize by participating in local events or joining social clubs near you. The greatest source of happiness and fulfillment in retirement is spending time with your family and friends.
Giving back provides purpose
Retiring does not have to mean that you no longer have a purpose in life. If you are financially comfortable but are seeking a sense of fulfillment, consider giving back during your golden years.
Identify well-established local or national charities and social organizations that will welcome your support.
The privilege of being able to impact the lives of others will dramatically improve your own self-worth and add greater meaning to your life.
If your health allows you to work, you may consider donating your time as a volunteer in your area of knowledge and expertise.
Periodically review finances
During retirement, you don’t have to constantly worry about your finances and review your situation on a daily basis. But it is wise to be in control and carry out a periodic review of your finances.
This will help ensure that you don’t have to face any unpleasant surprises when you have a sudden need for money for healthcare expenses or another requirement.
If your retirement nest egg is substantial, you should work with a financial planner who can help ensure you are financially prepared for any unforeseen situations.