Will You be Satisfied With Your Retirement?

Filed under: Retirement

Most people are relieved to finally retire, but sometimes we hear stories of woe. Occasionally, a retiree will say that they regret their retirement; they feel bored or lonely, they can’t participate in the activities they expected, or their financial situation is disappointing.

If you’re worried that you might someday regret your retirement, take these four steps to increase your satisfaction with your decision.

Consider all possible scenarios. Nearly everyone analyzes their living expenses and sets a budget before they retire. But many people forget to consider alternate scenarios. What if the unexpected happens, and you’re facing a financial emergency? Set aside some cash in a savings account, where you can easily access it. Also consider the different types of insurance that have already helped many retirees to manage their budgets. Medicare supplemental insurance can keep your health care costs under control, while long term care insurance will cover the cost of nursing care if you ever need it.

Take an ounce of prevention. While we’re on the subject of medical expenses, we should point out that the cost of health care is rising steadily every year. In fact, for many retirees, health care is their largest expense after housing. And aside from the financial aspect of health problems, there is also the happiness factor. Most people don’t enjoy being sick! In order to enjoy a happier, healthier retirement, start taking care of your health now. Stop smoking, cut back on drinking, attend those preventive screenings, and eat a healthier diet. You will thank yourself later!

Take care of your relationships. Loneliness is one of the main reasons retirees sometimes feel disappointed with their new lives. Remember to stay in touch with your professional connections, visit regularly with family, and join clubs that interest you. You might find fulfillment in volunteer work, or enjoy the income from a part time job. Even if you’re an introvert, you need some social interaction. The good news is that you can finally make your own schedule!

Seek expert advice. Since retirement is a major life change, involving dozens of complicated decisions, why navigate the maze alone? Put our years of experience to work for you, and we can help you decide upon a retirement plan that reflects your own needs and goals.