Is this the year you are planning to retire?
Around 10,000 Americans retire every day. Is this the year that you join their ranks?
If you’re on the cusp of entering your golden years, it pays to be prepared. With a little planning, retirement can feel like a second youth! This is the time of your life when you can be more physically, mentally, and emotionally fit than ever before.
Today, we’re sharing 10 tips to keep in mind as you begin preparing for retirement. Before you plan the going away party and book that week-long vacation, check out these important steps to remember.
1. Set a budget for your retirement.
No one wants to outlive their savings.
To ensure your retirement is as happy and fulfilling as possible, you’ll need to have access to a steady cash flow. At first glance, your portfolio might appear to be sufficient, but it can quickly dwindle if you drain your money early.
So, it pays to be prudent. Set a monthly budget, control your spending, and limit lavish extravagances as much as possible.
2. Prioritize relationships.
Whether they’re with your children, your spouse, or your buddies from childhood, you’ll have more time for relationships than ever before.
Cherish and nourish these connections to help foster your emotional well-being. In a recent study of 2,000 Americans between the ages of 50 and 80, one in three seniors reported feeling a lack of companionship and nearly 30% said they often felt isolated.
If you don’t have loved ones close by, consider joining a local hobby club that interests you. From cycling to crocheting, there are lots of groups in your community that can give you a place to connect with like-minded people.
3. Consider working part-time.
No, you don’t have to clock 40 hours per week ever again. However, it can be refreshing to find a part-time job doing something you enjoy.
Not only can continuing to work keep you physically active, but it can also help you stay socially connected and give you a sense of purpose. Consider your interests and look for a flexible, low-stress position in a related field.
4. Connect with a financial advisor.
From your retirement savings to long-term care insurance and estate planning, there are many different financial affairs to get in order once you retire. It’s no secret that most of these tasks are filled with complicated jargon and extensive paperwork.
Still, you need to fully understand every part of what you’re signing. Otherwise, it could lead to devastating consequences down the road. That’s why it pays to find a reputable local financial advisor who can walk you through each step.
5. Prioritize your dental care.
Now, more than ever, you have a great reason to smile!
Make sure your teeth and gums are in top condition by staying on top of your regular, preventative dentist visits. In addition, you might find that you need restorative dentistry work performed. This can include dental crowns, bridges, full mouth dental implants, Hybridge dental implants, and other services.
Start by finding a dedicated dental team that knows how to fix teeth with ease. With one procedure, you can beautify bad teeth, replace missing teeth, or even repair cracks and fractures. Some offices even offer same-day smile procedures so you don’t have to miss a beat!
In turn, this smile makeover can increase your self-esteem and help you find the confidence you need to enter this new venture with certainty. To budget correctly for this step, search “How much are dental implants?” on Google and find the right numbers for your area.
6. Engage in regular, light exercise.
You don’t have to dedicate your retirement to breaking a marathon record, though this inspiring guy did! However, it is smart to stay active.
Look for low-impact exercises that are easy on your joints but still get your heart rate up and allow you to stretch your muscles. A few great examples include the following:
If you’re newly retired and need some guidance, this retiree-friendly exercise and activity plan is a great place to start.
Along the way, don’t forget to engage in mental exercises, too! From crossword and jigsaw puzzles to online games and sudoku, there are many activities that can help keep your mind sharp.
7. Follow a passion during your retirement.
Have you always wanted to try watercolor painting? What about coding, photography, or gardening?
When you’re working full-time, it can be difficult to find the spare time to cultivate these interests. Even if you do have a few hours to yourself, you might feel guilty indulging in what others could consider a trivial pursuit.
What is one of the most glorious things about retirement? You no longer have to feel pressured to work around the clock. Instead, you have plenty of hours during the day to lean into the things that bring you joy!
Learn how to cook the perfect poached egg, grow the best tomatoes, or knit a patterned sweater. Give yourself permission to dedicate this time to personal growth, and watch your personal satisfaction soar.
8. Learn the art of self-care.
Speaking of following your passions, when is the last time you took an indulgent bubble bath or spent an entire afternoon reading a great novel?
As you enter retirement, it can be easy to feel pressured. You might think you need to fill every waking hour with a recreational or purposeful activity. However, don’t forget to rest, relax, and indulge in the things that make you happy.
9. Volunteer and give back.
Are you looking for ways to fill your days with purpose? Consider volunteering at a local charity or non-profit organization. When you do, you’ll not only help others in need. You’ll also contribute to your own sense of self-worth.
According to one recent survey, 70% of recent retirees say that being generous with their time and resources has been a major source of happiness in their retirement years.
10. Take retirement relocation seriously.
As soon as you walk out of the office for the last time, you might feel the itch to move somewhere brand new. Yet, remember to look twice before you take that leap.
That coastline property you’re eyeing might seem great in theory, but living there permanently could be an entirely different story. The same goes for that mountain cabin or big city high-rise.
Especially if the new spot is miles away from your loved ones, it can contribute to social isolation. Moreover, there are other factors to consider, such as the cost of living and the community you choose.
Preparing for Retirement the Right Way
You worked hard at your career, and now it’s time to reap the rewards.
As you start preparing for retirement, remember to keep your overall health top of mind. This includes finding ways to nurture your mental and emotional well-being.
As you embrace this new season of life, we’re here to help with all of your dental needs. Request an appointment today and let’s connect!