Tranel Talks Column

Top 5 Things to Do When You Retire

Retirement planning requires years of preparation. While you can’t always plan everything to perfection, a great retirement plan ensures the outcome will be something you can enjoy.

Early retirement planning ensures that you don’t have to figure everything out after you retire. Here are the top five things to include in your retirement planning so you can live life more fully in your golden years.

Go On Long Vacations

Most people would like to travel and see the world more, but their work obligations hold them back. It’s not surprising that traveling is often included in most retirement plans.

This provides an endless list of activities and new wonders to discover, whether you’re swimming in foreign waters or hiking in exciting places.

Create a Social Network and Befriend Other Retirees

You might not have had enough time to do so when you were working, but after you retire be sure to make friends with other retirees. Find friends that enjoy the things you love and who can participate in your regular activities. This will make the transition to retirement much more fun and exciting.

Pursue Old Hobbies and Discover New Ones

If you have a hobby that you were passionate about when you were younger, retirement gives you the time to start it up again as an adult. Since some hobbies require a bit of monetary investment, be sure to budget for any hobbies during the retirement planning process.

For instance, you may need to buy equipment, supplies, or pay for lessons to kickstart your old hobby. You can even plan to start other hobbies that you have always been curious about, whether that’s coin collecting, photography, or skiing.

Find Part-Time Work

When you retire you may suddenly find yourself with a lot of time on your hands. If you are one of those people who don’t like being idle, you can still work part-time after retirement. In fact, only a quarter of Americans say they don’t expect to work after retirement. The other 75% usually reduce their work hours or switch careers to something more exciting that keeps them occupied for many more years to come.

Be Adventurous

Retirement is not the time to settle firmly into boring and monotonous routines. It’s the best time to keep life fun and engaging, so make it a point to always try new things.

If you are in the process of planning for your retirement, consider these five things. They will help to enrich your retirement and your life. If you’re starting to plan for retirement, make sure to get help from a financial advisor with experience helping people plan for retirement. Planning in advance is the best way to make sure that your retirement can be everything you want it to be.