Like any transition in life, retirement is an adjustment, complete with emotional, financial, and lifestyle changes. But what happens when retirement doesn’t feel right? After decades of looking forward to a more carefree lifestyle, many retirees find that life in retirement falls short of their expectations. There are many reasons for this from boredom like the loss of a sense of purpose or difficulty adjusting to life after work. Fortunately, if life in retirement isn’t as wonderful as you’d imagined, there are steps you can take to change your situation. Begin with these five questions. - Are you happy? If not, re-examine your goals to discover what’s missing. Maybe you completed items on your bucket list sooner than expected and need to work on new and different goals that inspire you. Or maybe part-time or volunteer work would fill the void that full-time work left behind.
- How’s your health? Are you taking good care of yourself, exercising, and eating right? If not, consider working with your healthcare provider(s) to put a plan in place to pursue a healthier, more energized lifestyle.
- Do you have budget concerns? Once you’ve been in retirement for a few months or years, you should have a good sense of your essential living expenses—housing, food, clothing, healthcare, and transportation—as well as discretionary income for things like travel, hobbies, and social activities. Review your budget annually to help determine if you’re spending too little or too much, since either can cause anxiety.
- What’s changed in your life? Maybe you moved to a retirement community only to find that lifestyle wasn’t right for you. Or maybe you divorced, remarried, or lost a spouse. Keep in mind that change doesn’t stop with retirement. Make sure you’re giving yourself the time required to adjust to the changes in your life and remain open to making additional changes if you’re not satisfied.
- Are you living the life you envisioned? As income needs change over the course of retirement, based on health, activity levels, life events, and personal decisions, take time to re-evaluate your goals and review your financial strategy on a regular basis. Most of all, don’t be afraid of changing course if your original plans aren’t working out the way you anticipated.
If you have questions about how your income will support your lifestyle needs and preferences in retirement, contact the office today to schedule a time to talk about your concerns. |
