Retirement is one of life’s most significant and challenging transitions. When you’ve been working for close to 30 years, it can be a real test to decide what to do next. How do you go from working all the time to having all that free time?
It’s important to remember that you still have so much to offer your family, friends, and community. But how do you want to spend your days? That’s the question you’re likely mulling over at the moment. Do you want to spend them with your grandkids (if you have them)? Do you want to spend six months at home and six abroad? Are you interested in volunteering in or around your community? Or maybe you want to play more golf than ever before? As you prepare to enter into retirement and start thinking about your next chapter, it’s important that you plan out what you want to do.
Here are a few tips that can help make the transition into retirement a successful one:
Taking care of your health is a must in retirement. You want to make sure that your mind and body stay strong. Dedicate time for some form of physical fitness every day, and be sure to switch up your routine. If you do the same thing day after day, you can quickly become bored, which can take away from the quality of your workout. It’s also a great idea to get outside for your exercise when you can. Getting fresh air and being in nature can do wonders for your health, so get out for a walk or a jog, or hop on your bike.
Review your finances regularly
Canadians are living longer and longer, which means that you need more money stored away for your retirement. Review your finances with your spouse (if you have one) as well as your financial advisor annually to ensure that you’re staying on track. And in the first few months of your retirement, really be on top of your finances. As you adjust to living on a fixed (likely reduced) income, it’s important to know where your money is going. Also, don’t panic if you’re a little over budget one or two months at the start. It can take time to adjust to new living circumstances, and there will definitely be months when you’re under budget.
Your career likely provided you with countless opportunities to interact with a diverse group of people. This is something you don’t want to lose in your retirement. Not everyone is a social butterfly; that being said, it’s a smart idea to get involved and dedicate time to activities where you can meet and interact with individuals from all ages and walks of life. Volunteering is great for this, as are fitness classes, travel, continuing education courses, and mentoring programs, just to name a few.
Think about what fulfills you
Lastly, but most importantly, you should think about what gives you purpose. What gets you out of bed every day? Doing what you love with your days will make your retirement a meaningful and joyous one.
As you prepare for your dream retirement, it’s important that you’re also prepared with the right insurance coverage. With CAA Term Life Insurance, you can help protect your loved ones in the days ahead.