Happy and healthy: living well in retirementSubmitted by Agrawal Associates on April 10th, 2017
April 12, 2017
Are you really on track for the retirement you imagine? Many Canadians have their financial future planned out in theory, but overlook the harsh realities of projected income to thrive in their golden years.
Retirement planning has to include more than just a focus on the financial aspect – individuals should also consider healthy living and social engagement.
Before you consider retirement, you need to prepare for it financially. A healthy financial structure includes:
- having control over day-to day income and expenses,
- being able to financially absorb an emergency,
- meeting financial goals; and,
- having financial freedom to make choices which enhance your life and the lives of those who matter to you.
Consider this: When you reach retirement, do you want to maintain your pre-retirement lifestyle or are you interested in downsizing and simplifying. Also, assess whether retirement will open up new avenues to pursue passions or hobbies.
Living well in retirement can mean a lot of different things to different people — it might mean maintaining the family home or moving into retiree housing. There may be an opportunity to pursue activities that weren’t available when the alarm rang every morning at 6 a.m., or volunteering with causes that spark your passion.
Healthy living also includes being able to eat well, exercise, sleep well, get plenty of sunshine, and access physical and mental health resources as needed.
Staying connected to your network of friends, family, and former colleagues is also an important part of living well in retirement. Social isolation can negatively impact retirees’ financial and physical health. Before you retire, plan how you’ll maintain your social interactions.
Community centres and church groups offer daytime activities for retirees, and some colleges and universities offer classes to retirees to stay active and engaged. Keeping in contact with colleagues, alumni associations or your LinkedIn network may offer opportunities to mentor a new generation of professionals in your industry, while intergenerational contact with your children and grandchildren can benefit both you and them with a healthy flow of new ideas and opportunities.
We can help you experience a worry-free retirement. Contact us to learn more.
- Agrawal Associates