For decades you’ve done what’s expected of you – work hard for a living, take care of your loved ones, and often forgo putting yourself first. That all changes in retirement. Whether you’re traveling, volunteering, taking up new hobbies, or relaxing with friends and family, retirement is a time to unwind and do something you enjoy. One thing that’s great about life in retirement is the freedom you have to choose how you want to spend your time and the people you want to surround yourself with. You’re in control of your future, and your retirement should be what you want it to be.
First, consider spending more time with family and friends. Sometimes, it can be hard to set yourself up for a retirement full of friends, connections, and fun. Why? Because leading up to retirement, many of us are so focused on work that we don’t leave enough time to nurture those relationships. In retirement, social networks are more important than ever. After all, this is when you’re going to have more time to invest in friendships, both old and new. We all need networks of family, friends, and community. Whether that’s a band, a church community, or some old golf buddies, retirement can allow you to make more time for the people who really matter, and the things that really make you happy.
Next, you may want to consider volunteering. Few things can be as fulfilling and stimulating as doing good deeds around the local community. Activities include walking animals at the local shelter, assisting at a hospital, tutoring and mentoring, or volunteering at a local non-profit. Most towns and cities have websites that post local volunteer opportunities, or you could stop by your local YMCA and read the community bulletin board. Transitioning into retirement is no small task, but you can make the most of it by taking more time for yourself in retirement. Some people become bored if they have too much free time on their hands.
So, what is another helpful idea to consider spending your free time on in retirement? Try taking up a new hobby to get active and stay active. Even if you weren’t used to going for a walk or running before, why not start in retirement? Or consider photography. In the age of digital photography, amateur photographers do not have to deal with the hassles of a dark room or spending money on rolls of film. It is an economical hobby for all seasons, and with practice, there may be opportunities to participate in local exhibits or at least showcase the photos online. Or, perhaps you want to take a class at a local community college offering courses on interesting topics. And, if the classroom isn’t for you, then consider traveling. It can also be a good motivation to get or stay in shape throughout retirement. Remember, new adventures can help keep one young.
Start planning today to help you take advantage of the added free time you’ll likely have in retirement. It’s your 30 or more year vacation, and we can help you create a comprehensive retirement plan with your desired lifestyle and unique goals in mind. Schedule your no cost, no-obligation financial review to get started!
The commentary on this blog reflects the personal opinions, viewpoints and analyses of BML Wealth Management’s employees providing such comments, and should not be regarded as a description of advisory services provided by Cooper Financial Group. The views reflected in the commentary are subject to change at any time without notice. Nothing on this blog constitutes investment advice. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance is no guarantee of future returns.
Investment Advisory services are offered through Cooper Financial Group, an SEC Registered Investment Advisory firm. All Insurance Services are offered through BML Wealth & Insurance Services. California Insurance License #0M15550. BML Wealth Management & Cooper Financial Group are not affiliated.
We do not provide tax or legal advice, all individuals are encouraged to seek guidance from qualified professionals regarding their personal situation. Any references to protection benefits or steady and reliable income streams in this guide refer only to fixed insurance products. They do not refer, in any way, to securities or investment advisory products. Annuity guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by insurance company. Annuities are not FDIC insured. Indices mentioned are unmanaged and cannot be invested into directly.
