Have you recently retired or are you planning to retire in the near future? When you give up work, your life will change, and you will have more time to try new things. While leaving the workforce can be daunting, you will have the opportunity to spend more time with family, look after your health, and tick items off your bucket list!
With some organization, you can be happy and healthy in your senior years. To help you plan for a successful retirement, we have compiled these top tips:
1. Take Control of Your Health
As we get older, our health usually becomes a priority. Medicare is a type of insurance offered by the government to reduce health care costs for seniors age 65 or older. If you are already receiving Social Security benefits, you will receive this automatically. Otherwise, you will need to apply. Medicare covers the basics, such as physician visits, hospital stays, treatments, and diagnostics. You can supplement Original Medicare with a private, Medicare-approved insurer to gain extra coverage, including dental, hearing, and vision services, and drug prescriptions coverage (also known as Medicare Parts C and D).
A comprehensive healthcare plan will help you maintain your independence. Plus, staying active and being conscious of your diet will keep you healthier for longer!
2. Set a Budget
When you retire, your finances will usually change. For those who will have to live with a lower income, you may be able to reduce financial stress by creating a budget. Try to reduce or consolidate your debts and get rid of any subscription services you no longer use.
There are other ways to save money. You may be able to negotiate better rates on your utility bills and pay on time to avoid late fees. Some retirees have a special set of skills that they use to make money on a casual basis. For example, you might be a seamstress who can alter clothing, be able to teach piano lessons, or sell homemade baked goods at the market!
3. Clear the Clutter
You will be spending more time at home, so you should put “spring cleaning” on your to-do list. Often seniors will downsize and move into a more manageable living space once their children have moved out. Whether you are going to stay in your family home or relocate, clearing the clutter will give you a fresh start.
Your wardrobe will probably need a makeover as you say goodbye to your old work uniform. Other areas to sort through might include the kitchen, bathroom, and cupboards.
4. Manage Your Time
It is a good idea to plan activities to help keep you busy. Now is the time to do the things you have always wanted, and spend your time YOUR way. For example, you might be passionate about animals and sign up as a volunteer at a local shelter. Or you could learn to dance, play tennis, or bake bread.
Schedule in some time for friends and family because socializing will help to boost your mood and make you feel connected. Often seniors enjoy growing herbs and vegetables in their garden as it is a way to keep fit and be part of nature.
This is Your Time to Shine
Your retirement should be a time for you to relax and enjoy the little things in life. By focusing on your health you will have more energy, and the right insurance should be part of your action plan.
Set a budget, manage your time, and clear the clutter to give yourself the best start to retirement!