Planning for your retirement lifestyle
Setting these goals and refining them is an important part of our effective planning process.
Planning for retirement is one goal, but what are your goals one you reach retirements? Knowing what it is that you want to do during your retirement years helps the planning process so that these goals can be reached within the required timeframes.
What might you like to do?
- Start a new business
- Non-profit executive
- Business Adviser
- Part Time teacher
- Restore an old car
- Make handicrafts
- Spend time Gardening
- Write a book or your memoirs
- Work with a charity
- Take an active part in a service organisation
- Help out in the local community
- Take further education
- Learn another language
- Get your pilot’s license
- Travel with the family
- Non-profit executive
- Enjoy your the quiet times
- Personal travelling
Who do you want to spend time with?
With the changes coming from retirement, one of the most significant change is that of your social network. Maintaining social connections can be challenging as we come to the end of our working lives. Planning on how you are going to spend time with loved ones, family and friends while building a new network of friends and acquaintances is one of the first goals of the newly retired.
How are you planning to enjoy your time together?
- Spouse or partner. Consider new activities you may participate in together.
- Family. Will you be living a distance away from your children and grandchildren? What activities do you plan to do together? Will you be travelling to see other family members?
- Friends. How much do you like to entertain and stay socially active? Will you be planning trips together?
- New friends. How do you expect to meet new people? Volunteering and joining active service organisations is a good way to build a new friends and acquaintances
Where are your dream destinations?
The ability to travel to places that have not previously been accessible is one of the joys of retired life. Whether is be solitude, companionship, adventure or relaxation these trips are something that many of us dream about. Careful planning can make these trips a reality.
- What are your aspirations?
Where will you live?
We often live in our homes as they are close to work, convenient for schools etc. Is this still the rigth house for you in your retirements? Where would you plan on living?
- Stay in the area. Loft in the city, current home, smaller/maintenance-free home
- Move closer to family. Spend time with children, grandchildren or parents
- Relocate to places that you love. The holiday home, a different climate, with an active outdoor environment
How do you intend to stay healthy and active?
As your lifestyle changes into retirement, it’s important to think about how you will keep yourself busy and active, are there new activities that you want to take up?
What are the financial requirements for you to be able to make the most of these activities?