October 30, 2024
Planning for retirement means more than just crunching numbers. Allworth advisor Laurie Ingwersen, CFP®, CRPC®, CDFA®, CBC®, CEPA®, outlines how to make sure your next chapter is also emotionally and mentally rewarding.
When we think about retirement, we often focus on the financial aspects—how much we’ve saved, whether our income will last, and how to manage expenses. While these are critical pieces of the puzzle, retirement is much more than a numbers game. A fulfilling retirement is about living your best life, staying engaged, and aligning your time with your values.
I’ve worked with many clients who have built strong financial plans yet find themselves facing unexpected challenges in retirement—like boredom, a lack of direction, or feeling disconnected. To help you avoid that scenario, I’m sharing some practical tips for making the most of your retirement years.
A key to a fulfilling retirement is staying active. Exercise isn’t just about staying fit; it’s about maintaining your health and improving your mood. Whether you enjoy walking, swimming, or even trying a new activity like yoga, keeping your body moving is essential.
But don’t forget to exercise your mind as well. Whether you take up a new hobby, learn a language, or take a class at a local college, keeping your brain engaged helps you stay sharp and resilient.
There’s something incredibly rewarding about giving back to your community. In fact, research shows that volunteering provides significant psychological and emotional benefits for older adults. It can boost your sense of purpose, create new social connections, and keep your days filled with meaningful activities.
Social connections are vital to living a happy and healthy life in retirement. Retirement can sometimes feel isolating if you don’t actively seek out opportunities to connect with others. Whether it’s joining a local club, planning regular get-togethers with friends, or traveling with family, nurturing your relationships can bring immense joy and fulfillment to your days.
If you’re not sure where to start, consider joining local groups, participating in community events, or even engaging with online communities centered around your hobbies.
Retirement is the perfect time to explore new places and immerse yourself in new experiences. Whether it’s traveling across the globe or taking road trips to nearby destinations, travel can enhance your quality of life and provide new perspectives. It’s also a great way to break out of the day-to-day routine and embrace the freedom that retirement offers.
While having the freedom to structure your days as you please is one of retirement’s greatest perks, establishing a loose routine can provide balance and purpose. Incorporate activities that bring you joy—whether it’s gardening, spending time with family, or working on a creative project. The key is to find a rhythm that keeps you engaged, while still giving you the flexibility to enjoy your time.
The financial conversations you had before retirement don’t end once you stop working. Keep the lines of communication open—whether it’s with your spouse, partner, or financial advisor. Regular check-ins about your budget, spending, and long-term goals will help you stay confident in your financial situation and adapt to any changes that come your way.
As we age, we become more frequent targets for financial scams. From fraudulent phone calls to email phishing schemes, it’s important to remain vigilant. A good rule of thumb is to never share personal information with unsolicited callers and always consult a trusted source if something feels off. Staying informed and cautious can help protect your financial security in retirement.
While retirement often marks the end of a full-time career, some people find fulfillment in working part-time or pursuing passion projects. Whether you want to mentor others, consult, or explore a different line of work, retirement can offer the flexibility to pursue work that you find meaningful—without the pressure of relying on a paycheck.
What you eat plays a big role in your overall health, especially as we age. Following a healthy diet can help protect your heart, lower your blood pressure, and improve your brain function.
Of course, always consult your doctor before making any major changes to your diet, but prioritizing nutritious meals can help ensure you stay healthy and energized during your retirement years.
Finally, financial confidence is about more than having enough money—it’s about having a plan that allows you to live comfortably within your means. Ensure your investments are aligned with your long-term goals, your estate plan is up to date, and your income streams are secure. This way, you can spend less time worrying about money and more time enjoying the freedom retirement offers.
Retirement is a time to embrace new experiences, nurture your well-being, and create a life that brings you happiness and satisfaction. By staying active, engaged, and financially secure, you can make the most of this exciting chapter.
If you’d like to discuss your retirement plans or explore ways to make your retirement more fulfilling, I’m here to help. Let’s talk about creating a plan that works for you.
My father was a financial advisor who introduced me to the impact proactive planning can have on people’s lives at a very early age. At the same time, I also watched my mother struggle to make the right, forward-focused decisions after divorce—which ultimately led her to a life of financial insecurity. Forever moved by the sacrifices she made for us, I want to honor her by helping others avoid some of the mistakes she made. Now as a passionate financial professional myself, I strive to help others make sound financial decisions that expertly balance their priorities today and their future needs.
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