Retirement Living

Retirement Travel Tips for Planning a Vacation

ocean beach with red umbrellas - retirement travel tips

Traveling can be a major part of your lifestyle If you are part of the baby boomer generation. With the children grown and gone, these empty nesters have all the freedom to spend their time and money exploring the world.

We all know that traveling can be exciting, but it takes time and effort to set up your travel itinerary and organize a whole trip. Even though it does take time, but it is well worth it because it will ultimately save your precious time when you are actually there to explore.

Here are some helpful travel tips to consider before planning a vacation or going on a long-term trip:

Prepare your home before going away.

It might be hard to leave your house when you are going away on a short or long trip. But creating a list of tasks needed to prepare your home is one of the most important tips.

When you check off each task accomplished, you can head off on your adventure knowing that your home is safe.

Clean out the refrigerator and freezer and get rid of all perishable goods.
Empty and wash all trash bins.
Empty the dishwasher and leave it cracked open, so any additional water in the system will evaporate.
Set the thermostat to practical temperature. For our winter trips, we always set the thermostat to 55 degrees. It keeps the house well above freezing and prevents the pipes from bursting.
Make sure that the smoke detectors are working properly.
Turn off the water valves to toilets, sinks, dishwasher, and washing machine. This can prevent any damage from water leaks. We usually turn off the main water line into our house before we leave.
It is recommended to turn off the water heater. There is no reason in maintaining a hot tank of water for months when you are away traveling.
If you are leaving for a very long time, I would recommend unplugging all electronic devices.
Arrange with the local post office to have your mail is forwarded or held. Mail can be held for 30 days or less, and you can do it through USPS.com. Although, our small-town post office can hold mail for three months. Also, reserving a P.O. Box from a local post office can be a good idea as well. Even though we pay all our bills online, we still receive a lot of leaflets and flyers in our mailbox. When you are away on a long trip you do not want a bunch of letters hanging out of your mailbox, shouting to the world that you are not home.
If you are planning a long-term trip, try to put on hold your cable TV and internet. Not all cable TV and internet service providers will allow you to do that, but some will. So, if it is possible put your expensive services on hold.
I like to leave my house clean before I go on vacation even though it is the last thing you want to do in the middle of packing. That is why I always thank myself and feel happy when arriving back to a clean and uncluttered home.
The ideal way to leave your car is parked in a garage out of everyone’s eyes. We do not have a garage, so we have to leave our cars parked in our driveway. Another tip is to disconnect the car battery to prevent drainage.
It is important to have trusted neighbors or hire a house sitter. When we travel, we leave a set of house and car keys with our trusted neighbors. We feel grateful to have good neighbors who help to keep our home safe while we are away.

Benefits of using travel apps.

There are apps for almost everything these days and it includes traveling. The rise of websites gives us direct access to hotel and airline booking.

But let’s face it – vacation planning can be overwhelming. You can spend hours browsing hundreds of travel websites and blogs researching destinations, accommodations, available flights, tours, and activities. You can go back and forth multiple times before ultimately choosing one.

But if you want to spend more time enjoying your trip and less time planning, you should consider using travel apps.

Even you do not use apps in your daily life, consider taking advantage of many helpful apps when you start preparing for your travels.

person holding a smartphone - retirement travel apps

If you are looking for a travel app to help to book your trip, Kayak is one of the best apps to make that part of travel easy. I prefer to use Kayak because it is a one-stop shopping app for browsing hundreds of websites for the best deals on hotels, flights, vacation package deals, and car rentals.

I like to use TripAdvisor while researching and reading reviews of restaurants, hotels, and destinations. The best part is you can make reservations directly from the app.

Yelp features reviews written by people who visited local eateries, cafes, diners, restaurants, etc. I even wrote several reviews and posted them on this website. If you are looking for a local flavor, this app might be your best bet.

Google Maps is one of the best driving directions apps available. You do not need to carry a printed map with you anymore. It might be not perfect, but it helps me to get around in places or towns I never visited before.

WhatsApp is one of my favorite apps to communicate with friends and family who live overseas. I use simple text messages, group chats, video chats, and phone calls to keep in touch with everyone when we travel. We can exchange photos and videos without SMS fees.

The Best Travel Apps from NomadicMatt

Benefits of using a travel agent.

The travel industry has changed over the last decade. These days many people prefer to plan their own trips because online booking makes it easy to book airline tickets, hotels, tours, or cruises without visiting a travel agency.

However, the traditional travel agencies have not entirely disappeared. Many have adapted to the modern era. And there are still some situations when you may want to work with a travel expert instead of doing it yourself.

Here are the top benefits of using a travel agent:

Travel agents are well-connected experts. They will do all the work for you if you do not like planning or have a complicated itinerary. If you are planning a big family vacation in another country, a travel agent can help to coordinate all the logistics. So, instead of spending hours on the computer searching for the best deals you will just pay the bill and show up at the airport.
Many travel agents specialize in a particular type of travel such as cruises, luxury tours, resorts, etc. Travel agents have established relationships with many travel companies. They can help you plan a trip that meets your budget and needs without wasting your time and money on the things you are not interested in at all.
Travel agents often have access to benefits that you might not be able to get on your own. Whether it is a hotel room upgrade without added expenses, better seats on the airplane, reservations to a popular tour, or event tickets, a travel agent can add some perks to your trip.
Using a travel agent can help you save time and money even you have to pay a fee for their services. Generally, all agents receive information about rates and discounts and access to promotions from the resorts, tour operators, cruise lines, and other travel industry providers that are not available to the public.
When you are working with a travel agent you can rely on her/his travel assistance if something goes wrong with your trip arrangements. You can call your travel agent if you need to rebook your flights or need assistance with the wrong hotel room or no scheduled transportation to a resort or a theme park.

Consider buying travel and medical insurance.

You do not have to be a frequent traveler to know that decent travel and medical insurance can save you time, money, and a lot of hassle.

We always buy travel insurance when we go on our overseas vacations.

But choosing travel insurance is not one size fits all process. You have to consider trip cancellation, medical emergencies, policy cost, exclusions, etc.

It is recommended to buy travel insurance within 15 days of making the first deposit on your trip, since buying early can qualify you for bonus coverages. You have to read through the insurance policies to understand what coverages are offered without an additional cost. Those bonus coverages may include:

Coverage for pre-existing medical conditions
Emergency medical insurance moved from secondary to primary
Additional accidental death coverage

The main thing to remember is that you must buy travel insurance coverage before it is needed.

Even though some travel medical plans are available for purchase after you have left, most plans with medical coverage are required to be purchased before departing. That means you cannot buy any medical coverage once you got sick and need medical help.

The same applies to all travel insurance coverage.

You do not need to be in perfect health to start traveling. But you need to be in good enough health to endure the stress of being on a road for a long-time. Therefore, if you have a chronic health issue, I recommend checking with your doctor before making long-term travel plans.

Keep in mind, that Medicare does not cover medical expenses happen outside of the US. That is why you will need to buy travel insurance to cover any medical emergency.

How to Find the Best Travel Insurance from NerdWallet

What to pack for long-term travels?

When packing for a long-term trip, the most important things to keep in mind are the length of your trip and the weather.

woman in boots with luggage bag - retirement travel tips

When I am preparing for a trip, I always start with a travel packing list, so I do not forget anything important. My general packing list includes:

Clothes – underwear, sleepwear, socks, T-shirts, a casual shirt, one pair of jeans, one pair of pants, shorts, a few dresses, swimsuits, a sweater, shoes, and sandals.
Accessories – a hat, sunglasses, an evening bag, a purse, a few belts, jewelry, and an umbrella.
Toiletries – toothbrush, toothpaste, dental floss, deodorant, hairbrush, curling iron, sunscreen, makeup kit, medications, bandages, a small bottle of shampoo and conditioner.
Electronics – cell phone, universal plug adapter, laptop, and electronic chargers.
Documents – passport, copy of passport, emergency contacts, list of medications, a printed list of passwords, credit cards/ATM card, money/ cash.
Misc. items in my handbag – house keys, glasses, disinfecting wipes, hand sanitizer, earplugs, headphones, a book.

We all know that the pandemic has changed the way we travel. Make sure that you have your vaccine passport (vaccination certificate) or negative Covid-19 test results in your handbag. Many airlines require one of these forms to proceed. And do not forget to have a face mask on you and to keep a few extra in your handbag or carry-on.

Safe and Happy Travels!

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What are your favorite tips when planning a vacation or a long-term trip?

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5 Common Mistakes to Avoid When Choosing a Place to Retire

by Maggie Leave a Comment

old town-bridge-choosing a place to retire

The best thing about retirement that finally you can live anywhere you want. You no longer need to live closer to where your kids go to school or your work. Instead, you can move to a place with beautiful views, a better climate, a lower cost of living, or just a place you were dreaming about.

However, deciding on where to retire can be a difficult task. It will take a lot of time and effort. Unfortunately, one of the biggest mistakes people make when they choose a place to live in retirement.

You need to envision it, set up the priorities, do the research, make a list of areas, and then visit several places before you finally decide where to move in. Besides the financial issues such as cost of living and taxes, you need to consider the weather, amenities, environment, and how close you want to live to your family.

Planning to move in retirement can be exciting and stressful. However, some common mistakes can ruin even the most carefully planned retirement.

To help you make smart decisions, I came up with a list of 5 Common mistakes to avoid:

1. Not visiting enough places before deciding where you want to live.

Have you thought about your retirement priorities?

Do you like to live closer to the beach, golf course or near the mountains?
Do you want to move into an active adult community, a small town, or prefer rural areas?
Have you discussed your plans with your spouse or partner?

Every retirement website recommends doing detailed research before you commit to one place. The internet has lots of information on retirement communities, places to retire, and the cost of living there. It is a good idea to start planning early before you retire so you can avoid the costly mistake of moving around until you find the place you really like.

Start with creating a checklist of your priorities because it would help you narrow down the number of places you want to move in.

It will be smart to visit the places on your wish list if you are still working. Internet research is great, but often you need to see a place with your own eyes. Because while everything looks amazing online, a half an hour drive to the nearest grocery store can ruin the comfort of your daily life and would become a huge inconvenience.

My favorite go-to website is TopRetirements.com

This website provides you with tons of information for the best retirement communities, active adult communities, and places to retire. If you are at the beginning of your research, start with this website to get some ideas and then decide if you are ready for a visit.

When you travel, make sure to explore the town you like as a potential “best place to retire”. Drive or walk around and decide what you like or dislike about the neighborhoods. Take a tour through any active adult communities if there are any in the area.

It is always a good idea to talk to locals and ask questions about their life there. If you are planning to visit several neighborhoods do not forget to take notes so you can refer to them later. Recently I read that some people even prepare pros and cons spreadsheet while visiting retirement communities.

When you visit a place, do not spend all your time near the hotel. Walk around, visit neighborhoods to get a sense of people. For me, the ideal place to move in would be the place with:

Walkable streets
Close to shopping areas
Close to parks or green spaces
Short drive to the beach
Access to public transportation
Proximity to medical facilities

Another tip for avoiding common mistakes is to visit your favorite place during different seasons. Weather is an important factor, and you want to make sure that you like your new home in all seasons.

lake-snow-trees - choosing a place to retire

I do not like hot and humid weather, so even we want to move to Florida I cannot stay there during the summer. Because of that, we would need to have another place where we can escape the hottest months of the year.

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2. Not renting before buying a retirement home.

I am sure you heard the stories about retirees who regret that they did not live in the area before they bought their retirement home. It is so easy to get excited about the community or new development that seems to meet your dreams. But once you settled down it might be too late to realize that you miss the comfort and amenities of your old life.

It is hard to really know a place before committing to that area unless you rent it first. But if you do not want to rent a place before you buy it, make multiple visits during different seasons to get a feel of this area you will call home for a long time.

Renting a home in the neighborhood you like can help you live like a local. Also, renting make sense if you are considering a move to a new lifestyle. In retirement, we are planning to move from the suburbs to a city. It will be a huge change in lifestyle for us, so we want to test it out for a few years by renting an apartment and see if we like it there.

Renting can also be a temporary step if you are not financially ready to buy a house. More retirees are renting these days because they do not want to be in charge of maintenance or yard care.

Buying a home at any stage of life is a major purchase and not a quick decision. It costs a lot to move to a new home, so you have to plan wisely.

It is important to remember that your retirement life can last for 20 or 30 years. Therefore, you need to find a home with an understanding of your long-term needs. It is great If you healthy right now, but it might change in the future. If one of the spouses gets sick, you will want to live closer to the medical center for regular appointments rather than travel for hours to see a doctor.

The best advice is to rent before you buy because you will get fewer surprises in the future. Otherwise, it can be a costly mistake.

3. Moved to be closer to family.

Many people move to be closer to their children and grandchildren when they retire. In many cases, it is a great idea.

But the situation might reverse, and you will be chasing your children around the country if they choose to relocate. You do not want to be in situation when you move to the area and then find out that your family will be moving away.

grandma with granddaughter baking - moving closer to family in retirement

4. Not doing your due diligence before moving to a new place:

Moved to the wrong environment.

That is a common mistake for many retirees. That is why you need to make sure that the location meets all your needs before you move in.

Everyone knows that staying socially active makes you happier and healthier in retirement. But where are you going to meet new friends? Does a new place have social events, clubs, or gathering places? Is it close to a coffee shop, pool, library, or movie theater?

We live on the east coast. Here everything is close enough if we want to drive for a few hours to get to another state or town. But if we move to Texas or Arizona, I will miss the variety of New England scenery and proximity to a familiar environment. Everything will be far away if we want to have a change of scenery.

If you are planning to move to one of many retirement communities, make sure that it will be a good fit for you. I would recommend renting a unit and spend a week there. Go to the restaurant where everyone eats and see if you like the food and ambiance. Go to the games room, swim in the pool, and talk to residents about life in the community.

The best advice is to find a place that matches your lifestyle when choosing a place to retire. Hence, do not move to a rural area if you love going to museums and theaters.

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No access to good healthcare.

Keep in mind that access to good healthcare and medical facilities is a must when looking for a place to retire. When you are in your 60s and 70s, you are still active and healthy and probably need only routine doctor visits.

But as you grow older, you will need access to retirement facilities, home care providers, and transportation for people with disabilities. And you do not want to move to another place in search of better healthcare in your late 80s.

5. Not considering the design of your retirement home.

That is a common mistake for many retirees when they buy for today and not for tomorrow. You are healthy and active today, but unfortunately, your mobility will decline with age. That is why you need to consider the design of your home with the idea of how it might change in the future.

Everybody loves living in a new two-floor modern-designed home. But what happens if one of the spouses will lose mobility and will be in a wheelchair? How will you go around the stairs? It will be stressful to start looking for a single-level house while trying to sell and move out of your brand-new home.

Have you thought about if your house is accessible for your future needs?

You might not need it right now, but life can change very quickly in 10 or 15 years. It will add a lot of stress and money if you need to renovate your home later to fit your physical abilities.

The important thing to remember that if you are moving to a new place make sure that your house is a comfortable place to age. In the end, it can be expensive and difficult to remodel a place with lots of stairs, a second-floor master bedroom, tall kitchen counters, narrow doorways, and more.

Final Words

Choosing a place to retire may be one of the biggest decisions you will ever make. Hence, do not make it in a rush. Take your time and choose wisely.

But do not be discouraged by the amount of work you have to put in upfront. After all, you will benefit greatly by living and enjoying the retirement of your dreams.

What are your top retirement mistakes to avoid?

Share this article if it helped you!

Finding Your Purpose in Life in Retirement

by Maggie 4 Comments

woman-laptop - finding purpose in life in retirement

One of the challenges of retirement is finding your sense of purpose in life.

While we are working, the responsibility and commitment of work give us a sense of purpose and meaning. When we retire, we look forward to leading a more relaxed lifestyle. But many people often miss the feeling of being valued in the workplace.

The important thing to remember that just because you have retired from work does not mean you are retiring from life. Retirement is a huge transition where you have to refocus your energy into something different than your career. Think about the new lifestyle you will be walking into as well as if you are prepared for it.

Purpose and Meaning

In the past several years I have been talking to retired friends and reading blog posts about what has given retirees purpose and meaning in retirement. And what I have learned that finding a new purpose in life is a major undertaking. It takes quite a long-time to find how to replace a work-related purpose with something new.

Most people believe that preparing for retirement is all about saving money and building wealth. This is true because money and financial independence are a huge part of a solid retirement plan. However, it is not the only one. Understanding your personality and creating a plan for what to do with yourself may be just as important as saving in your 401(k).

So how to find a new purpose in life? Think about how to refocus your life by writing down your interests and things you want to do in retirement.

Some people might find their purpose in doing meaningful work like being a volunteer while others might find that their purpose is to help family and friends. Some people find their purpose is going away on a spiritual journey or helping others on a similar path.

Think about who you want to be in retirement and ask yourself:

What special talents or interests do I have? Am I a creative type?
Do I have a dream that I want to pursue?
What do I want to achieve?
What skills I can use to benefit other people?
Do I like to work at something I am used to, or would I prefer to face new challenges?
What would I regret not doing if I die?

As you gather your thoughts answering those questions, you can begin to outline what your new purpose in life might be. Look at retirement as a time for exploring, developing new skills, and trying out new interests and activities.

Pick one or two things from the list below and discover if they bring a sense of purpose to your life in retirement:

1. Hobbies in retirement

I believe that everyone has some interests that they were forced to put on the shelf during their working years. But retirement gives you a great opportunity to start over again by pursuing your passion. You should always stay active once you retire. Do not consider yourself as ‘retired from life’. Refocus your energy on learning something new and more interesting than your previous job.

People still enjoys traditional hobbies such as cooking, reading, gardening, coins collecting, building models, even antiquing. If you are not sure where you want to start, compose a list of old hobbies you have enjoyed but had to stop and what hobbies you have wanted to try. Try to choose hobbies with a good mix of activities – physical and mental ones. And try something outside of your comfort zone. Also, it might be fun to try something new with a friend or a family member.

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2. Travel in retirement

These days traveling is a number one goal for most retirees. Many people look forward to traveling after they retire because you are no longer is constrained by the number of vacation days you can take off. You can go whenever you want and for how long you want.

Many people (including myself) looking at retirement as the best time of our lives, a time for fun, adventure, and travel. I believe that one of the biggest benefits of retirement is the freedom to explore the world.

I have found it useful to create a bucket list. That is a list of things I want to do and see in our local area and other countries. My bucket list is always get updated with the name of new places, activities, recommended tours, dates of future travels, and more. Roman and I feel excited when discussing our travel plans, and the places we want to visit.

Today, the fact that people live longer has produced a new generation of adventures – senior travelers. They are bold, resilient, and enthusiastic about fulfilling their childhood dreams. Professional obligations, family life, and financial concerns prevented them from actually doing it. But retirement brings freedom and they do not wait any longer to explore the world.

3. Health and fitness in retirement

Finding your sense of purpose in retirement often comes with staying in good health.

park-woman -bicycle-purpose in life in retirement

During the years of working and raising a family, it is so easy to let your fitness slide. There is not enough time for everything so many of us allow our weight and diet to decline. But once you have retired you will have plenty of time to improve your physical health and fitness.

Stay in shape.

There are still many retirees who spend days lying on a couch watching TV and snacking. Some people gain weight during retirement because they are not active, and began to eat more out of boredom and depression. Overweight and lack of exercise put retirees at great risk of many chronic diseases such as diabetes, stroke, cancer, and heart disease.

But you can get into shape with a healthy diet and regular exercise. Exercise can take many forms – jogging in the mornings, hiking in the woods, biking to the grocery store, taking yoga classes, swimming in the lake. Try to choose an exercise activity that you enjoy so you can stick to it for a long time.

There are many books and videos that you can use for working out from the comforts of your home. But if you want to exercise with others you can join a gym and take group fitness classes. Do not be afraid to try something new such as Pilates, Kickboxing, or Zumba.

Another good idea for staying in shape is to hire a personal trainer and learn new techniques for improving your overall well-being.

Stay in good health.

Maintaining good health is often a number one goal in retirement. Do not wait until something is wrong to visit your doctor. Take a preventive approach and have your regular health check-ups and screenings, so if any problems get caught early you can do something about them.

4. Working in retirement

If you still find that you miss working, there is no reason not to make work your new hobby as long as you find it enjoyable and not stressful.

Part-time jobs

Working part-time in retirement can be a great way to feel fulfilled. Even though your official full-time career has ended, it does not mean you have to stop working completely. The surveys show that many retirees prefer to work part-time jobs to stay busy, socialize with people or simply pursue their lifelong passion.

The Bureau of Labor Statistics predicts that a growing number of the labor force (164 million people by 2024) will have 13 million workers aged 65 and older. Many retirees have enough money to cover their living expenses in retirement. But many others who prefer to take on a part-time job for extra income or to cover the shortage of retirement savings.

There are plenty of part-time jobs for seniors including tutoring jobs, consulting jobs, service jobs, and more. Part-time jobs provide you with extra income and still allow you to enjoy more free time, travel time, and indulge on your hobbies.

Here are some options for the part-time jobs for retirees from the AARP article:

Top 25 Part-Time Jobs for Retirees

Small business

If you are planning to start your own business in retirement, you are not alone. According to statistics, the highest rate of entrepreneurs is in the 55-64 age group. For many people, being retired does not mean never working again. The most popular types of business these days includes consulting services, and freelancing.

coffee shop - purpose and meaning in life in retirement

Whatever business you are planning to start make sure you do something you passionate about. To start a new business will require a lot of time, money, and effort over a prolonged period. You need to be passionate about the product or service you are offering to make your business succeed. Otherwise, you will lose the excitement when faced with challenges fast and will not be able to carry on.

5. Giving back to the community in retirement

Many people choose to give some of their time to charity work and volunteering. Many of us feel the desire to give back to the world in gratitude for the opportunities we had in life. This is a great way to find your purpose in life and stay busy and valued. You will have a chance to meet new people and feel good about yourself while contributing to the community.

Countless groups and organizations are looking for an extra hand and might not have money to hire the help they need. If you need to find an organization, think about what you are passionate about and what matters to you the most. You can volunteer by sitting on Board of Directors, helping renovate housing, tutoring children, or organizing events and fundraisers.

Some great options are to volunteer at a homeless shelter, animal shelter, local hospital, church, and library, or teaching to share your knowledge. Offering your time and assistance to those in need will give you a great sense of purpose and making the world a better place to live.

One of my friends is passionate about helping seniors in her local community. She teaches nutritional training class “Successful Aging” at several senior centers. Currently, she is focused on raising funds for the creation of an Outdoor Recreation Area and Shade Pavilion so older people will spend some time outside in nature and feel less isolated and lonely.

6. Caregiving in retirement

Many people choose to become a caregiver to take care of aging parents who need help with their lives. I know a few neighbors who are taking care of their grandchildren and a friend who retired early to become a caregiver for her disabled brother.

These situations are very common. We all hope for long and healthy lives for our family, but there are times when our loved ones need our help. Becoming a full-time caregiver is not an easy decision and it may affect your lifestyle. But most caregivers take on this new role out of love and good intentions.

Final Thoughts

Retirement is not a one-time event. It takes place over time, and we need to develop new interests, explore different parts of ourselves, and form new identities.

Everyone is different. Your retirement should be about you. And what other people find rewarding and enjoyable might not appeal to you. So, keep looking until you find something that you are passionate about and it adds meaning and purpose to your retirement life.

We would love to hear from you! Do not hesitate to share your thoughts about finding a sense of purpose in retirement in the comments below.

Do not forget to share this article if it helped you!

Tips for a Smooth Transition to Retirement

by Maggie Leave a Comment

woman in purple dress with field flowers - smooth transition to retirement

Retirement is a major life transition. And all transitions come with adjustments.

Life changes after retirement. Everything work-related is gone. Everything we got used to is gone. There are no more schedules, early commutes, and daily routines.

Most of us imagine life in retirement to be like a delightful vacation – no alarm clock, no schedule, no deadlines, and no stress. Just sleeping in, having a morning coffee on a deck, reading a book, going for a long walk, or staying up late with a glass of wine. However, we need to realize that transitioning from a work-oriented lifestyle to retirement includes a big adjustment.

Unfortunately, a honeymoon period is often followed by a feeling of disappointment. Sooner or later, it might be a big contrast between expectation and reality. No wonder it will take time to find your own way to a new life in retirement, and you need to be prepared for that challenge.

I have created a list of helpful tips for a smooth transition to retirement. Try these tips to create a new life for yourself.

Prepare for ups and downs.

The first year of retirement will be filled with bumps and adjustments no matter how well you are prepared. Do not expect the transition from your 30 or more years of work to retirement to happen without stress and anxiety.

There are going to be surprises and disappointments down the road before you settle into something comfortable. There may be times when you feel lonely, isolated or a bit lost, which is normal.

Like many other life transitions, retirement comes with emotional and mental adjustments. Your transition to retirement will not happen overnight. Most retirees will go through stages of emotions when adjusting to a new life. Give yourself some time by understanding that this will be a process.

Do not spend your time dwelling on the thoughts about the end of your career, loss of identity, loss of social connections, and purpose in life. Accept that you have done all you can working for many years and focus on your next phase of life. Make peace with it and move on to your next challenge.

I recommend reading my post: 5 Common Emotional Stages of Retirement

Develop a routine.

We all need structure in life and our job helped create that structure for many years. When we stop working the structure is gone.

What happens when you retire? It is Monday morning, but you do not need to go anywhere. There is nothing planned. There is no alarm clock, no morning rush, and no early meetings or deadlines.

pastry and coffee mug on a table - transition to retirement

The first few days or weeks will be exciting. You can sleep late, read in bed, or catch on your favorite Netflix shows. But I am sure that by the end of the week or month you will start feeling bored, isolated, and maybe a bit depressed. The fun is gone, and you will be glad to go back to something more meaningful in your life.

That is why you need to develop a routine and create a “new normal”. Some people love to have a daily routine, while others cannot bear to have everything predictable. But without proper planning and developing daily activities to get you up every morning, your retirement life will be dull.

Set goals.

Setting up personal goals can be a powerful tool for finding purpose in life and helping you with the transition. Your retirement goals are maybe a little bit different than when you were working.

Your pre-retirement life was structured around achieving mostly professional and financial goals. After you retire, you still need to set goals for yourself to ensure you feel a sense of purpose and accomplishment.

Overall, goals give us a sense of direction. And with direction comes a sense of purpose. Make a list of your goals the same way you make a ‘to do’ list. Think about goals you want to achieve in six months or a year. Writing down your plans on a piece of paper will help you stay focused on a new life.

If you do not know how to create goals in retirement, I recommend reading my post: How to Create Retirement Lifestyle Goals

Find your path.

How you transition from the workplace to retirement will depend on many factors. It will depend on your financial situation, your health, and your vision of what retirement will be like. And you will set yourself for a smooth transition to retirement if you plan for that ahead of time.

fisherman on a beach - smooth transition to retirement

Think about whether you want to spend your free time doing something similar you did before retirement, or if you want to try something different. Write down a list of interests and activities that brings you joy even some of them you might put on the back burner for a while. Do not forget to include in your list new things you like to learn.

Discovering something new you have never done before can be a great way to step out of your comfort zone. Now that you have more time, there is a whole new world out there waiting to be discovered.

All those things we regret not having time to do during our working years can act as an inspiration when we transition to retirement. There are endless possibilities to explore once you have time and the freedom of retirement. It can be sports and travels, learning a new language or instrument, starting an art project, or home renovation.

If you want to learn more about what to do in retirement, I recommend reading my post: 15 Ideas What to Do When You Retire

Keep in touch with your friends from work.

Losing your network of co-workers and office friends can be hard. Eventually, life in the office will go on without you. Even though you are retired, it does not mean you have to lose contact with the group of your office friends completely.

A simple email, text message, or phone call can lead to regular catch-up meetings with your friends from work. Also, you can make arrangements for lunch or dinner dates once a month to stay in touch with your ex-colleagues. Most workplace friends will be happy to catch up with an old friend they have not seen for a while.

Once you retire, it is easy to become involved in other activities outside of the workplace. But keeping workplace friendships alive during retirement can help you mentally adjust to life without work.

Focus on your health and fitness.

We should all aim to stay fit and healthy to enjoy retirement. There are so many ways to be physically active by walking, gardening, exercising, swimming, hiking, etc. If you have not made exercise a normal part of your life while still working, retirement is a good time to develop this habit. Just going for a walk in a park or trail can do wonders for your mood.

Lately, practicing meditation as a strategy to relieve stress and anxiety has become more popular than ever. I do not know how often you should meditate, but some articles are suggesting that 10 to 20 minutes of meditation a day can be very beneficial for your well-being.

What you eat and how often you exercise will impact your health. Being active and eating healthy food can add more years to your life and save money on future medical bills. Make sure that you eat regular meals instead of snacking if it was your habit while at work.

an omelet and potatoes on plate - focus on eating healthy in retirement

Do not forget to go for a regular health check-up because prevention is better than cure. Regular visits to your doctor might help to prevent heart disease, stroke, diabetes, and some types of dementia.

Get your finances in order.

You will set yourself for a smooth transition to retirement if you get your finances in order before you retire. It will be easier to adjust to a new life without a regular paycheck if you know what you will have to live on.

Look at your current spending and figure out what you need in your new life and what you do not. You might learn that some of your expenses will decrease, but some will increase with time.

There is no need to spend money on business clothes, commute, take-out lunches, and other work-related things. But you will want to spend more money on travels, activities, and hobbies. Unfortunately, your medical expenses will increase with time.

I recommend creating a retirement budget that will help you see how much money you need for fun and entertainment and how much to cover your living expenses. You might discover you need to keep working longer or take a part-time job to cover your new lifestyle in retirement. Or you might learn you have enough money saved and can retire early.

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Final Thoughts

Most of us look forward to retirement as a time to relax and enjoy our golden years. Finally, we can do whatever we want and when we want. But the transition from work life to retirement comes with its own challenges.

Many people will learn how to adjust to retirement life in different ways. Everyone’s path will be unique. But you will know how to deal with challenges if you are prepared. Following the tips above will help you adjust to retirement better so you can feel happy during your new phase of life.

Have you thought about transitioning to retirement? Do you feel prepared for your new phase of life? Share your thoughts in the comments below.

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Everything to Know Before You Retire

by Maggie 2 Comments

Woman at computer - things to know before you retire

Retirement is a life-changing event. And like many things in life, preparing for retirement requires a lot of planning. You do not want to be one of those people who want to retire, but when that day finally arrives, they just let it happen. You want to be smart and invest time in planning and preparing for a big day.

Getting closer to retirement can be both exciting and stressful. You need to know if you are financially ready. And you need to understand how you will spend your days when you stop working.

Retiring without a plan can be disadvantageous. The better you are prepared and see what you are retiring to, the more successful you will be at this transition. Sometimes a step-by-step guide or “to do” list can help. I have created this post with all the things you need to know before you retire.

1. Know your financial situation and retirement needs.

The first step is to evaluate your finances. I read that new retirees have some financial anxiety related to the fact that they no longer earning a regular paycheck. The Baby Boomer generation is redefining what senior living and ‘retirement’ means.

The Boomers want more out of their retirement lifestyle – more activities, more wellness, and sometimes more of everything. But all these luxuries cost money. Not to mention ordinary bills for food, transportation, utilities, medical insurance, and taxes that must be paid every month.

Calculate what you need financially to support your retirement lifestyle.

You should have enough saved to live on 80 percent of your annual pre-retirement income. This number is a good rule of thumb if you do not plan on making any major budget changes.

When you retire you do not need a lot of things that you did when you were working. The costs of commute, take-out lunches, and business clothes will go down. But you will start spending more money on travel, hobbies, and activities. And your medical expenses will increase with time.

You might have a general idea of what you spend now. But you will be better prepared if you get a clear picture of your current cost of living and how that might change in the future.

The best advice is to create an estimated retirement budget based on your current and future expenses.

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Get a clear picture of your retirement income.

money bills & calculator - know your financial situation

When you are working, you probably have a single employer and a single source of income – your salary. In retirement, everyone has different sources of income. As a retiree, you receive income from multiple sources: Social Security, pension, part-time job, or rentals.

Another source of income will come from your nest egg – investments and retirement savings:

Tax-deferred accounts – 401(k), IRA
Tax-free – Roth IRA, Roth 401(k)
Taxable investment accounts
Taxable bank checking and savings accounts

You need your nest egg to last through the next 20 or 30 years. Therefore, it is recommended to withdraw a safe 4 percent from your retirement portfolio.

For example, if you have $500,000 in your retirement funds, you can spend roughly $20,000 ($500,000 x 0.04) per year when you retire. Add this number to your Social Security, and calculate if it is enough to cover all your retirement expenses.

According to the stats, the average Social Security benefit in 2020 was about $ 1,514 a month, or about $18,170 a year.

To calculate the retirement income based on the numbers above:

$20,000 + $18,170 = $38,170 a year or $3,180 a month.

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Know your withdrawal strategy.

Do you know how much income you can pull from your nest egg? A good starting point for many retirees will be a well-known rule of thumb – the “4% rule”.

The 4 percent rule refers to your withdrawal rate. If you have a well-balanced retirement portfolio (60 percent stocks and 40 percent bonds), you can withdraw 4 percent of your account balance.

For example, if you have $500,000 saved in retirement funds you can withdraw 4 percent of that amount – $20,000 in the first year of your retirement. Then, you should adjust that number every year for inflation. But following this rule should help you not to run out of money for at least 30 years.

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Think about your tax strategies.

We still need to pay taxes in retirement, but not all sources of income are taxed the same. Withdrawals from tax-deferred accounts such as 401(k) plan and traditional IRA will be taxed as an ordinary income.

Withdrawals from Roth IRA and Roth 401(k) plan will be tax-free. If you want to withdraw money from taxable investment accounts, you will have to pay capital gains taxes.

In addition to taxes, you need to remember about required minimum distributions (RMD). You will face this requirement when you reach the age of 72.

By the US tax law, you are required to start taking withdrawals from your retirement accounts such as 401(k) and IRA. The amount you must withdraw will be determined by the IRS. If you have more than one retirement account, you need to withdraw money from each account.

You need to remember that RMD withdrawals might push you into a higher tax bracket and you need to plan how to pay for additional taxes.

Know your medical expenses and long-term care coverage.

You will become eligible for Medicare at the age of 65. If you plan to retire before age 65 you will need to find a separate plan to cover your medical expenses.

Many baby boomers who are close to retirement still believe in free Medicare. I assume people do not do enough research to understand that Medicare does not cover all your medical expenses.

Medicare does not cover premiums, deductibles, co-pays for doctor visits, dental and vision care, long-term care, personal care, and other expenses. It is important to remember that healthcare is the second biggest expense in retirement after housing and you need to plan for it.

We all know that the healthcare cost is rising. According to recent data from Fidelity, the average out of pocket healthcare cost for a 65-year-old couple will be close to $285,000 instead of $265,000 as it was a few years ago. And that number does not even include long-term care costs.

2. Expect to go through the emotional stages in retirement.

woman - rocky beach - things to know before you retire

Most people go through an emotional process when adjusting to retirement. In the beginning, there is a feeling of freedom and being like on a vacation that is going to last forever. Then, after a few years of fun and enthusiasm, you might start feeling bored.

You will learn that retirement is not a constant vacation. Eventually, you will realize that you have to fill up your days with something more meaningful than just traveling or playing golf.

It is good to be mentally ready for your new phase of life. You do not want to realize that most days you have nothing special to look forward to when you wake up in the morning. Or you do not have any reason to leave your house during the day. Or deep inside you wish you were not retired.

Like many other life transitions, retirement comes with emotional and mental adjustments. If you learn more about the emotional stages of retirement you will know what to expect. That knowledge will help you to better navigate the transition to retirement.

3. Structure your days in retirement.

Before retirement, your life has a predictable routine. The alarm goes off, you take shower, have breakfast, pack your lunch, and head out the door. Your job gives you focus and discipline and forces you to get up every morning. Work takes priority and everything else in life is scheduled around it.

But when you retire, there is nothing but time. Thus, you need to replace the established routine with something new. Waking up and trying to figure out what to do each day can be depressing.

You need to create a new routine that helps you plan your days otherwise you have no reason to get up every morning. It could be a hobby, a sport, a new skill, a part-time job, or volunteer work. Do not go to retirement without having a plan about what you are going to do to stay busy.

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4. Stay socially active and grow your friendship.

After many years of meeting people at work and seeing them every day, it might not be possible to keep up with them when you retire. You might feel isolated from your friends. You might start drifting through the days without much to do if you do not get socially connected with other people.

You can stay connected with your old friends by planning social events. If you are friends with other couples, invite them over for dinner or board games once a month. For many people, their social life relates to their work. However, you can do many things to improve your social life in retirement.

Take advantage of your free time in life to make new friends. It is not hard to find a volunteer job, join a group in the local community, or start taking a class at a senior center. Another thing you can do is to start a new club or join the club. It could be a reading club, a walking club, or a gardening club.

Staying socially active will restructure your daily routine. It will help you to feel that you are doing something meaningful beyond watching Netflix, doing crosswords puzzles, or reorganizing the house.

Putting It All Together

I am sure you have thought a lot about how you will enjoy your life in retirement. But there is a good chance you never thought much about how to transition from the workplace to retirement.

The key to a happy and comfortable retirement is in planning and preparing for it. It includes not just financial planning but envisioning your life in retirement. The more time you spend to know your retirement lifestyle goals, hobbies, and activities, the more successful you will be at this transition.

And If you do it right it might be the best time of your life!

Are you ready to retire? Do you have a clear picture of your retirement? Share your thoughts in the comments below.

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