ASAG recommends these 5 ways to achieve a quality retirement life to help seniors prepare for the next chapter of their life and live it out happily.
The transition to retirement can be a thrilling stage in life, with new adventures and possibilities. But for some seniors, moving on from work life comes with culture shock now that they have more free time in their hands.
Which is why you should take everything into consideration, from ensuring a healthy mind, body, and spirit to learning how to manage your finances.
1. Find your purpose and meaning
In the duration of your career, you’re always working towards a goal. But, without anything to be busy with, you might feel lost and depressed.
As each item has been ticked off your bucket list and your life in retirement goes on, it’s quite usual to hit a roadblock and wonder what to do now.
It can be difficult to somehow start over again, get out of your comfort zone, and do something you haven’t done before. However, you can acquaint yourself with new people and reach out to the less fortunate through volunteering.
Studies have proven the positive effect of volunteering on one’s life. When you feel a sense of purpose, it can boost your endorphins and establish your value in society.
2. Create quality social connections
Outside financial gains, having a career can also give out support systems and friendships. Without a support system, you might become isolated or withdrawn from your community. The regular interactions with your colleagues are beneficial and must continue in retirement.
One’s retirement can be more fulfilling with lots of people around. Spend more time with your family by looking after the grandkids, if they live closer. You can join a walking group or a gym. You can meet other people who also want to extend their circle.
3. Learn to manage your finances
It’s better to consider living within your means and managing your finances on lowered income when the time comes. You must have anticipated the source of your income before retiring from the workforce.
It could come from your superannuation or Age Pension that’s been building up over the course of your career. Aside from this, one more way to increase your income in retirement is through equity release. By accessing some of your home equity, you can use funds without having to sell.
4. Stay healthy and active for a quality life
Observe a healthy diet and allow some treats once in a while to keep you on your toes and be ready to welcome new adventures.
A regular exercise routine will ease up your glide through retirement and will give you a glow that everyone will aspire to have.
5. Build new achievements
Because they are not working day in and day out as before, newly released seniors from the workforce are often left bored, trying to use up their free time and figuring out what else to do.
Don’t just stop learning. Educate yourself on how to utilise all the time in your hand for a more effective and improved quality of life.
It’s rewarding to have a sense of accomplishment and success. No matter how small or big those achievements are, they can keep on building with further education.
If you liked our “5 Ways To Achieve A Quality Retirement Life” and found some valuable information, check this space regularly to get more updates on reverse mortgages and equity releases.