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4 Ways to Make the Most of Your Retirement Years

08 Jan
4 Ways to Make the Most of Your Retirement Years

By: Colleen Weber

Retirement Planning

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By Colleen Weber, CFP®, CPA

Retirement is often viewed as the pot of gold at the end of the rainbow, so to speak. Maybe that’s why we call them the “golden years.” After working diligently for decades, you want to live out your post-career years stress-free. But have you considered what that will look like? The answer is different for everyone because each person’s or couple’s dreams, goals, and situations are unique. 

If you’re approaching retirement, or have already retired, here are four ways you can fill your time and make the most of this next chapter in life.

Find Purpose

One of the most commonly suggested things to do in retirement is to find purpose in your new phase of life. As you transition out of the workforce, you may find yourself feeling like you don’t have a reason to get up in the morning. Studies have shown that you can prevent this feeling by living a purpose-driven life and that individuals who feel fulfilled are happier and healthier on average than those who don’t. Not only that, but they also live longer! You can find purpose in retirement by:

  • Volunteering for a local nonprofit or church
  • Spending time with your grandchildren
  • Pursuing a newfound hobby
  • Working on home improvement or DIY projects
  • Taking a class or learning a new skill
  • Traveling locally or abroad

Whatever you choose to do in retirement, doing it with a sense of purpose will help you make the most out of your time instead of just filling it.

Stay Healthy

Declining health and how to pay for the associated medical expenses is one of the biggest concerns for many retirees. In fact, 72% of Americans cite healthcare costs as the most pressing issue on their minds when planning for retirement. Now that you’re in retirement, what better way to spend your time than prioritizing your mental and physical health?

Sure, genetics will play a role in how healthy you will be as you age, but there are also things you can do to mitigate your risk. Exercise and diet are key to maintaining health and they can also be fulfilling ways to fill your time. Try participating in group workouts like kickboxing, yoga, or pilates, or join a gym if you prefer to exercise alone. Any form of exercise is better than nothing, and even if you don’t have a lot of time, just 11 minutes a day can help decrease your risk of premature death. Learning how to cook a new style of food can also be a fun way to pass the time while simultaneously improving your diet. 

Phase Retirement

Adjusting to retirement is a huge transition! Going from working 40-plus hours a week for 30-plus years to suddenly having all the time in the world is a shock to the system, to say the least. It takes time to adjust, so don’t feel pressure to rush into retirement all at once. Instead, try working part-time or using a phased approach to retirement.

It’s becoming increasingly popular for people to approach retirement in phases, slowly adjusting to reduced hours, part-time work, and then eventually full retirement. Studies have shown that phased retirement can actually improve vitality and health among retirees. 

Prioritize Friendships

Retirees who build and maintain meaningful social relationships are often happier and healthier than those who spend their time alone. During retirement, spend time connecting with your friends, family, and loved ones. It can help prevent loneliness and provide a sense of purpose and fulfillment. Knowing that you have a strong support system can make a significant difference in your overall level of happiness, and it can be a great way to fill your time, especially if you experience the loss of a spouse, fall on hard times, or suffer from declining health.

Retire With Confidence

If retirement is on the horizon and you are starting to wonder what you will do, or if you’re already there and want to maximize your time, I can help. At Colleen Weber CPA, CFP®, I aim to use my knowledge and experience to help my clients save money in taxes, simplify their financial lives, and enjoy peace knowing someone is watching out for them—before and during retirement. To learn more, book a free introductory meeting online or call (952) 470-0750 to get started today!

About Colleen

Colleen Weber is a fee-only financial advisor, CERTIFIED FINANCIAL PLANNER™ professional, and CPA with more than 20 years of financial planning experience. Providing comprehensive financial planning and wealth management, she specializes in serving clients nearing retirement, retirees, busy professionals, and women. She is passionate about developing financial plans that save clients on taxes and investment strategies that help them pursue their goals. Learn more about Colleen by connecting with her on LinkedIn or booking a complimentary phone call meeting.