BusinessHABRetirement empower: It’s common to feel anxious about retirement, especially if you’ve watched the news lately. The recession and its aftermath brought unstable markets, a housing crisis, and an unemployment rate that remains stubbornly high. It also left many boomers with little or no savings for their golden years. But that doesn’t have to mean your later years are doomed to be unhappy ones. To embrace your retirement and make the most of it requires planning and preparation, as well as courage and optimism. Fortunately, there are also plenty of ideas out there on how to make your retirement empowering rather than passive; meaningful rather than anxious; happy instead of gloomy. And so we present the top 50 best ideas to help you embrace your retirement.
50 Best Ideas To Make Your Retirement Empowering
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Retirement empower: In today’s culture, it can be easy to feel like your retirement is something that will happen to you, rather than something you create for yourself. The truth is that while you might not be able to control when you retire or how old you are when it happens, you do have the ability to control what your retirement looks like. Creating an empowering retirement is a process that requires serious thought and planning — one that begins well before your final working day. Consider these 50 empowering ideas for retirement if you want to make the most of this new chapter in your life.
Travel
One of the best ways to start your retirement journey is to go somewhere you’ve always wanted to visit. Whether that’s a tropical island or a city in a neighboring country, travel can be exciting and enriching in so many ways. It’s also an excellent way to make new friendships, learn new skills, and open your mind to new cultures. Depending on where you’re headed, you can also expect to spend significantly less than you would while on vacation while working — many places are very affordable. Before you start booking one-way flights, though, take a moment to consider the cost of travel versus the value that it will bring you. If you’re not careful, all of that traveling can add up to a hefty price tag that you don’t need when you’re retired. Instead, plan according to your budget and the type of travel you want to do. You may also want to consider having a travel buddy who can help you stay within your budget.
Help Others
One of the best ways to kick off your retirement is to help someone else. This can be a great way to both get your mind off of yourself and help someone else at the same time. There are a number of ways you can go about doing this, too. You can volunteer at a local nonprofit organization that is focused on improving the lives of those who are less fortunate than you. You can also help out your neighbors with things like yard work or snow shoveling. In fact, you can even try to start a side business helping others with household projects and repairs. Whatever you decide to do, helping others is empowering and can even help you find a new purpose during retirement.
Pursue Your Passion
Let’s face it: not everyone retires with the intention of sitting on a beach sipping daiquiris. Some people want to continue with their career path right into retirement. If this is the case for you, then it might be helpful to try and identify what your passion is. Is there a specific field that you’ve always wanted to get into but haven’t had the chance to pursue? Maybe there’s a nonprofit organization that you’ve been wanting to volunteer with but haven’t had the time. No matter what it is, now is the perfect opportunity to pursue your passion.
Volunteer
If you’re looking for a way to help others during your retirement, consider volunteering with a local nonprofit organization. There are countless worthy causes that could use your help, from feeding the hungry to caring for animals to protecting our environment. You can also find opportunities online by searching websites like Volunteer Match or Idealist. You may also want to consider volunteering with children. You can do this by volunteering at a local library or by mentoring a child in need. When it comes to volunteering, you can choose whatever type of work you’re interested in doing. You don’t have to commit to a full-time or long-term commitment, either. You can simply choose an organization that needs short-term assistance whenever you have free time.
Enjoy Good Food and Good Company
Retirement is often a time when you’ll have more opportunities to spend time with close friends and family. If you’re not careful, this can mean that your spending increases significantly — especially if you’re the type of person who likes to dine out often. Instead of letting this become a problem that saps your retirement savings, try and be conscious of your spending decisions. Avoid restaurants whenever possible and try and cook at home as much as you can. If you do eat out, try and save money by asking for the discount menu at restaurants that offer it or by ordering water or tea instead of soda or alcohol. Enjoying good food shouldn’t have to come at a high cost.
Stay Healthy
Retirement can be a long journey, so it’s important that you stay healthy during this time in your life. This doesn’t just mean eating right and exercising regularly, though. It also means getting your finances in order and making sure you are properly insured. First, make sure you have adequate health insurance to cover any medical costs that may arise in your retirement. You may also want to consider purchasing long-term care insurance if you have a significant other or dependents who may need assistance should you ever become unable to care for yourself. In addition, make sure that you have an emergency fund in place that can cover at least 3-6 months of your expenses. This will allow you to avoid taking on debt if something unexpected arises.
Own Your Home
Retirement is often a time when people decide to downsize and make significant changes to their living situation. You may choose to move into a smaller home or even buy a condo in a city or town close to amenities. Whatever you decide to do, make sure that you are able to afford your new lifestyle. One of the best ways to do this is to own your home rather than renting. This will allow you to avoid paying a monthly rent payment, which can add up quickly. You can find information about buying a home with little or no money down, too. This can be a great way to finance your home while saving money on your monthly expenses.
Help Your Children (and possibly grandkids)
Retirement is often a golden opportunity for parents who are nearing the end of their career to help their children. If you are able to offer your kids a little financial assistance, then you can do so without breaking the bank. You can also help your kids out with childcare or other tasks around the house, too. If you’re really in the mood to help out your children, you can even offer to babysit their children from time to time. You can also help out your grandchildren, too — especially if you have a few years on your hands. You can take your grandchildren to school, pick them up, or even help out with some light household projects.
Conclusion
Retirement is a time to enjoy life and be in a place where you can spend your days how you want to. No matter what your intended retirement goals are, you can make this time in your life empowering. The best way to do this is to start planning and saving early. This will give you plenty of time to make adjustments in case you need to make changes to your saving strategy. In addition, you should make sure that you are properly insured and that you have a financial plan in place.
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