Downsize Your Home: Find The Best Place For You To Retire
Maybe remodeling isnt for you. Maybe your home isnt for you either!
Most of us live in homes that we bought with dreams of raising our children. Now, most of our children are grown and gone and we can think about where we want to live for retirement. Here are some lists of the best places to retire.
Moving when you retire can be great for your lifestyle, it can also be great for your finances. If you can buy a less expensive home, then you can lower your monthly expenses and maybe even use home equity for retirement expenses.
Use the NewRetirement Retirement Planner to model downsizing as part of your retirement plan.
Create An Online Course:
Create an online video course and earn money by teaching people around the world. On Udemy, You decide what to teach, create the curriculum using their software, and they help students find you. Maybe your familys cooking is the best on Earth, or maybe youre an expert-level knitter. In whatever youre an expert, you can be a teacher.
Become A Teacher Or Tutor
After all those years of hard work in your career, youve gained some truly valuable skills and expertise. Share this wealth of knowledge by becoming a teacher or tutor.
Tip for getting started: Try reaching out to your local community college or nearby schools. See if they would be interested in having you come teach a class or tutor students in your area of expertise.
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Apply For Fun Classes
You probably completed the sentence before: Ive always wanted to learn
Well, now is the time to do it. Retirement is the perfect time to learn new things, and Ive got the best tip for you!
Whatever you want to learn, there is an amazing class for you out there on Masterclass. On this streaming platform, you can learn from the best in the world at your own pace, anytime, anywhere. Whether you want to learn more about gardening, music, science, business, tennis, magic, Italian/ Mexican or BBQ cooking, basketball, etc. there is an amazing class for you on Masterclass.
Masterclass is a streaming platform that makes it possible for anyone to watch or listen to hundreds of video lessons taught by the most successful and famous teachers in the world. Say hello to your new teachers: Gordon Ramsay, Aaron Franklin, Serena Williams, Anna Wintour, Ron Finley, and so many more. Get yourself the best gift for retirement: an annual Membership to Masterclass. Get more info here.
What To Do When You’ve Retired
This is a guide for people in NSW who’ve retired. It provides information about managing your money, housing, health and wellbeing plus work and volunteer options in retirement.
After decades in the workforce comes the next life stage. Depending on your circumstances, it’s when retirees get to decide how and where they’d like to spend their time.
One of the most important aspects of retirement is living within your means. You’ve earned your retirement – now make it last.
Whether you have a fixed income annuity, self-managed super scheme or you are relying on the full or part Age Pension, make sure you create and stick to a budget.
This will enable you to make the most of all the other options to do in retirement, including:
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Give Photography A Shot
Even a basic point-and-shoot camera is fine for newbie photographers, and sites such as can act as a beginner’s class. Photo and camera clubs can pick up from there, offering companionship, mentoring, and a venue for exhibiting work. Talk to people at local camera stores to find out where the nearest clubs can be found, or try the .
Declutter Your Home And Free Your Mind
Go through cupboards, wardrobes, drawers and desks and while youre at it, get up in the attic and sort out all those things youve been meaning to for years. Keep anything special and sell or donate the rest. Youll have peace of mind that all your possessions are in order and that youve got all the things that are most important to you and what you find can be rejuvenating by reminding you of your younger self and the things youll enjoy rediscovering.
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‘you Think Retirement Is Nirvana’
Jay explains how she felt in the lead up to retirement: I think like most people of any age, you think retirement is nirvana, you think its going to be fantastic. And I had worked in the exhibition business which meant I worked weekends, evenings, and long hours. It was a fantastic job, really interesting, but I suppose in a way I was quite exhausted. And I was thinking, Oh wouldnt it be fantastic to not get up early in the morning, not to be working in the evenings.”‘
But when retirement materialised, it wasnt the dream that Jay expected, I think emotionally I was dying to do it. But after 3 or 4 weeks it hit me that I could sit here looking at these 4 walls unless I personally took charge, took responsibility and did something.
Here Are 12 Ways To Prepare Now For Retirement So That Youll Be Happy Active Fulfilled And Never Ever Bored
175,200 hours.
10,512,000 minutes.
That is the amount of time you can expect to have in retirement, considering the average length of retirement is approximately 20 years, according to the Center for Retirement Research at Boston College.
How will you spend all of that newfound free time?
Without a sense of purpose, the risk of dissatisfaction increases, and what should be a meaningful time becomes an anxious or uninspiring one. The average retiree in Britain grew bored after just one year, according to a U.K. survey. And one-third of retirees eventually give up on retirement and return to the workforce, according to a 2016 Federal Reserve study.
The notion of retirement as a time of leisure is outdated. Most older adults want a similar level of engagement and meaning as in their working years. This is as it should be. From traveling the world to helping people in need, there are a variety of activities that can give you meaning and joy in retirement.
To get a leg up on a happy retirement, start in the years before leaving your job by exploring the interests you want to pursue later in life. You can even use those interests to create a more personalized financial plan. Then youll be fully prepared to hit the ground running .
Need some inspiration? Here are 12 ideas.
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Common Goals Of Retirees
Without the restrictions of full-time work, how do you envision spending your hours? In the Merrill Lynch survey of adults over age 50, 95 percent of respondents said they would rather focus on having more enjoyable experiences than on buying more stuff. And financial constraints had little impact on most retirees’ ability to enjoy life. In fact, more than 88 percent of retirees across all income levels said they had increased flexibility and freedom to do the things they wanted to do.
Here’s what the Merrill Lynch survey respondents were looking to accomplish through their everyday activities:
- Get or stay health: 83 percent
- Relax: 72 percent
- Connect with family: 58 percent
- Have fun: 57 percent
- Make or expand social connections: 56 percent
- Learn: 47 percent
- Give back: 41 percent
Maintain Your Retirement Plan
No matter what else you are doing on this list, maintaining your retirement plan is something that all of us must do.
It is important to assess your financial situation every 3-6 months. You need to know if you are going to have enough money to do what you want to do in retirement for as long as you live .
A good retirement calculator can help you with these assessments. The NewRetirement Planner is a detailed and highly personalized tool that saves your information so it is easy to update. Best of all, the planner gives you immediate feedback on the impact of any updates on your overall financial health.
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Dont Underestimate The Process Of Retirement
Not everyone is aware that retirement is a process once they retire. Its one of the biggest life changes you will go through. Going from a working life with routines, structure, goals, social interactions, and purpose to retired life with a lot of free time and losing all that.
A lot of people go into retirement, cold turkey. They arent aware of the major life change they go through and can feel lost, sad, and even depressed once they are weeks into retirement. Whether a life change is positive or negative, it always causes some stress. So, its normal to feel that way.
Major life changes take time to adjust and figure out again to really enjoy it. And everyone handles it differently. Some people are better at it than others. But there are stages to retirement that everyone goes through. Some quicker than others. And being aware of the stages and the process of retirement makes you more prepared and aware of where youre at. And whats coming next.
Become An Expert At Anything
Youve probably had a lot of life experiences and dreamed about others that never happened. Did you ever think about becoming a brilliant chef but didnt have the time to go after it? Or did you once think about developing your mechanic skills but couldnt follow through?
Retirement is the perfect time to turn an interest into something that you master. You could create the next great thing in pottery, or fine-tune your woodworking skills. Whatever you pursue, plan to become an expert. And then pass that knowledge on.
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Start A Small Business
If youve got a hobby or skill that has the potential to earn you some money, why not turn it into a business? For example, if youre skilled in arts and crafts, you could make items to sell at marketplaces or online. If you love animals, you could become a dog walker, dog groomer or pet sitter. If youre an ace at baking, you could start your own cupcake business. Get some top tips by checking out the Governments expert advice on starting a business.
Create A Retirement Bucket List
Creating a retirement bucket list is the best exercise to put your mind towards all things you want to do in retirement. You probably have a couple of things in mind about what you want to do when you kick the bucket. Well, to give you some extra inspiration Ive created an article with 101+ Ideas For Your Retirement Bucket List. Or you can get the inspiring book: The Bucket List: 1000 Adventures Big & Small on Amazon.
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The Best Things To Do When You Retire
You’ve waited all your life for this moment. Make the most of your retirement.
You wait and save and plan for retirement your entire life, it seems. And then, what?
Retirees often find themselves, quite suddenly, with more free time on their hands than theyve made a plan for. Here are some of the most rewarding, productive or stimulating ways for retirees to spend their time.
Find A Cause To Advocate For
Your efforts to advocate for an important cause can have far-reaching impacts. Advocacy doesnt need to be complex. It can be as simple as sending letters to elected officials about an important issue. You can also join advocacy campaigns. RTOERO advocates for critical issues and welcomes your support.
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Frequent Your Local Library
Pickup your grandkids and head to the local library and share the joy of reading. This is also a great place to make new friends.
Tip for getting started: Head to your local librarys website, and you will likely find an event calendar. Libraries often have both senior events, and also music and storytime events for the kiddos.
Get A Job Youre Passionate About
This might seem counterintuitive. You just retired, after all! However, you may have always wondered what a different career path would have been like. Now is your opportunity to find out.
Tip for getting started: Start by thinking through what would truly interest you. Dont take the first thing that comes along. Youre retired now you get to be choosy. Once you pick a field of interest, search the web for openings. You can also directly contact organizations you would love to work with and inquire if they might have a good fit for you.
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Become A Lifelong Learner
There are 120 Lifelong Learning Institutes on university campuses throughout the country, all designed for people over 50. The courses vary from one institution to another and are not free. The program at the University of Massachusetts at Boston, for example, costs $225 a year, but the fee entitles members to attend five classes at a time, ranging from tai chi and yoga to digital photography. Brown bag lunches, museum trips, and other social activities are included.
Fostering A Child After Retirement
If youre asking yourself how do I find my purpose in life after retirement, fostering children in need could be your perfect calling. Its one of the most rewarding things to do after retirement, and it can change a childs life, as well as your own.
At FCA, we see fostering as a partnership, and were committed to making it work for everyone. We want everyone to feel theyre part of a large, happy family, and we would love you to be a part of it.
If you would like to learn more about fostering, then get in touch or download our guide, Fostering 101: The Beginners Guide to Fostering a Child. Its everything you need to know about fostering in one, handy place.
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Educational & Rewarding Hobbies For Retired People
Retirement can be a great opportunity to enrich yourself and expand your mind. Below are some of the best educational hobbies to explore in retirement.
- Be a Mentor:Want to impart your wisdom to others? There are many mentor programs out there that are always looking for people willing to help.
- Take Classes:There are plenty of free classes available for you to learn a new skill or explore a topic in further detail.
- Read:Just like with exercise, everyone wishes they could read more. Perhaps there are books you always wished you could read. Or you could just do a search online for the best novels of the past 25 years and start there. Either way, reading is a fun and rewarding hobby that will also help keep you mentally fit.
- Learn a Second Language:Even if you dont travel the world in retirement, learning a second language is a popular hobby among retirees and can even help stave off mental decline.
- Volunteer:Perhaps youre not ready for a part-time job just yet. Volunteering can be a rewarding hobby, as well. Find a cause/non-profit that means a lot to you and see if they accept volunteers.
What Do You Call A Person Who Is Happy On Monday Retired
Life after retirement is the life you have planned for saved for and now, you can actually enjoy living this crafted life.
Once you retire, you dont have to spend your days rushing to complete work in time and receive your paycheque at the end of the month. Instead, youll have plenty of time to accomplish the many goals you have set for yourself and saved for all these years.
You already know the world we live in You already know that many, many enjoyments come with a cost and that cost is usually money.
If you dont have a sufficient amount of money, financial stress will hover like dark clouds at this time you have prepared for and looked forward to with joy.
Start now save enough money for your retirement, complete all other responsibilities well and work on creating the best retirement life for yourself.
Wishing you All the Best, and your best life yet in your retirement years.
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Single Start Dating Again
Many seniors are happy with the single life. But, if thats not you, retirement offers a chance to make a fresh start.
Finding love online may seem impersonal to a senior. But its second nature to a child, grandchild or younger friend who may have valuable experience to share on what to expect, how to get started, and how to stay safe and avoid scammers.
AARP has advice and information about dating and online dating after 50.
Here Are Tips To Help You Pay Off Your Debt Before Retirement
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Start a side hustle:
If you feel that your current income is insufficient to help you pay the debt before retirement, you can start a side hustle.
If you choose a side hustle that you would love to engage in, like photography, handicraft design, and managing social media for small businesses, then you wouldnt even have to feel stressed.
In the words of Marc Anthony, If you do what you love, youll not have to work a day in your life. So, try to choose a side hustle that doesnt lead to additional stress in your life while helping you make some extra money to pay off your debts in time.
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Minimize credit card usage:
Interest rates on credit cards are really high. Howard Dvorkin, the CPA and chairman of debt.com, says, Right now, credit card interest rates are hovering around 20%.
This stat implies that you are paying a dollar for every five you borrowed. Such high rates of interest can not only eat away your current income, but can also leave you struggling during your retirement years when youll have to live on a fixed income.
So, you must minimize credit card usage now and all excess spending. But, of course, if you can stop using your credit card, thats even better.
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In the case of federal student loans, try seeking loan forbearance:
Many times people carry student loan debt into retirement. In 2017, the Consumer Financial Protection Bureau found that around 2.8 million adults over age 60 carried student loan debt at an average balance of $23,500.
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