What does well planned retirement mean?

 A few posts ago I talked about the importance of planning well ahead of retirement if you want to enjoy your retirement. Your goal is to have an enjoyable retirement, correct? You work your whole life and hopefully create and follow a plan so that you can kick back and do what you want to do in all three stages of retirement. Well, 72% of us have done that but a recent survey from Nationwide reports that 28% of retirees say that life in retirement is worse than it was when they were working.

Fortunately, there are ways you can improve your odds of having a more rewarding retirement, including asking questions and being creative, resourceful, and a bit adventurous at least in your first stage of retirement.

We spend our lives looking for happiness, but research from Age Wave and Merrill Lynch found that, of all periods in our life, we are happiest and most content between the ages of 65 and 74. In addition, experts from Princeton University and the London School of Economics and Political Sciences found that happiness peaks at the ages of 23 and 69.

When news broke in 2015 of the theft of upwards of $300 million of jewels and gold from the Hatton Gardens safe deposit facility in London’s diamond district, experts assumed that the physically demanding heist must have been pulled off by a team of extremely fit burglars. But it turned out that what’s been described as one of the largest thefts in English legal history was actually the last hurrah of a group of mostly retirement-age crooks, some well into their 60s and 70s. For these men hitting retirement age did not mean scaling back one’s aspirations.

Indeed, when Allianz Life asked 3,000 adults how they viewed the extra years afforded by today’s longer lifespans, 49% said the increased longevity could open a lot of new and interesting possibilities for people’s lives. Did you know that there are more entrepreneurs and more successful entrepreneurs over 50 than in any other age group?

For many of us, retirement is, or should, be a time to aim for new goals and accomplishments, new passions, or activities. These are things you about but never got around to doing (writing a book, starting a blog, creating an app, learning to play a musical instrument, whatever) or finding new ways to employ the skills you developed during your working career. Just because you’re retired doesn’t mean you shouldn’t still think big, take chances, and even be a bit bold.

 It is hard to enjoy retirement when you don’t understand the stages of retirement and you are not sure when you will actually run out of money.

Planning – creating a really comprehensive retirement plan – can give you peace of mind.  Planning will allow you to make smarter decisions and do better with your time, taxes, investments, healthcare, and more.

Research shows that retirees who have a solid circle of friends are much more likely to say they’re happy with their lives. Unfortunately, forging new relationships can be more of a challenge after leaving the work-a-day world. But it can be done. Volunteering at local charitable organizations, taking a part-time job, joining groups that get together to pursue a common interest (dancing, hiking, historical preservation, whatever), and enrolling in classes at a local college are all excellent ways to meet new people and broaden your social network.

While you’re forging new connections, be sure to maintain relationships with the people with whom you shared formative experiences in earlier stages of your life and who knew you before you became the person you are today.

Speaking of friends, you have had a long time… Staying connected in your marriage can be an important aspect of enjoying retirement. Research has found that a happy marriage or long-term relationships is good for you:

·        Married people show better health and lower mortality risk than the unmarried

·        Marital quality is important across the life span but seems to be particularly important in later life as health tends to decline, and the effects of adversity accumulate

The chance to kick back and relax without having a daily to-do list hanging over one’s head is one of the great benefits of retirement. But a steady diet of relaxation—or adhering too closely to any daily pattern for that matter—can lead to boredom and a sense of listlessness. To spice things up try something as simple as taking a spur-of-the-moment road trip, trying out a new hobby, attending local cultural events, sampling new cuisines, etc.

Stay as healthy as you can. Maintaining and improving your health isn’t complicated. You know the guidelines: get regular checkups, eat a healthy diet, and exercise regularly!  Here are a few more tips

·        If you can soak up the sunlight for at least 15 minutes a day. This helps your skin produce vitamin D, an essential vitamin for bone health, mental health, cardiovascular strength, and more.

·        Floss! Most adults brush their teeth but fail to floss. However, flossing is critical, not only for healthy teeth but according to researchers at the University of Bergen in Germany, to prevent Alzheimer’s and heart disease.

·        Splurge on the Hearing Aid: The research is overwhelming: the ability to hear can have a tremendously positive impact on your life.

·        Drink enough water: Drinking adequate water can keep energy levels high and will improve brain function. It also keeps skin healthier.