8 Secrets for a Happy Retirement
People save for decades to fund a comfortable retirement, but a high net worth isn’t the only key to enjoying your golden years. There are other factors that determine if you will be happy when you walk away from your career.
Here are eight ways your lifestyle can help lead to happiness in retirement.
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1. Define your purpose
Retirement can cause people to lose their sense of purpose since they're no longer tied to a job. But the happiest retirees find meaningful ways to get active, such as volunteering, learning a new skill or even taking on part-time work.
2. Find a ‘third place’
You may enjoy being home more after retirement, but it’s also important to find a "third place" you enjoy and can visit to see friends. The "third place" refers to a non-home, non-work social hub, such as the gym, coffee shop or club.
3. Keep an active social calendar
Happy retirees usually allocate some time each week to interact with non-family members.
You can look for local events in your area, attend conferences that align with your hobbies or join a sports club that meets regularly. Having a busy calendar can leave you feeling more energized.
4. Learn something new
Retirees may have the extra time they've been waiting for to learn something new. The happiest retirees try to learn new, challenging skills like a language or an instrument.
You’ll feel good about each small win you make as you progress toward developing a new skill — and it can keep you busy for years.
5. Embrace location flexibility
Don’t stay put. Traveling from time to time can be an exciting way to mix up your routine, and it doesn't have to require more than hopping in the car. And being open to moving to cheaper location can extend the nest egg since monthly costs will be lower — plus it may allow you to move closer to friends and family.
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6. Stay healthy
One of the biggest expenses retirees face is healthcare, but you can minimize those costs by staying healthy. Working out multiple times per week and eating a healthy diet can make you feel great while reducing your lifetime medical costs.
7. Digitally declutter
Conduct digital declutters to clear up headspace. Maybe you want to get rid of online subscriptions that you no longer use or delete some of your social media apps and accounts that you spend too much time on.
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8. Conduct an annual financial check-up
Many happy retirees conduct financial check-ups each year to discuss where they are and assess how to manage their nest egg for future years. Even if these retirees have strong financial foundations, they may meet with the financial planner to make sure their plan still aligns with their goals.
Prioritizing your happiness
A strong financial foundation may not be enough to make you happy, as it’s just one piece of the puzzle. But harnessing these eight habits can help you enjoy your retirement to the best of your ability.
You don’t have to work on all of them at the same time. Commit to one habit right now, then you can add a second habit into the mix once you have mastered the first.