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Make the Most out of Retired Life

Whether you retire because you want to or because you have to, you can make your retirement years happy and healthy, it's your approach to retirement that makes the difference. Retirement can be a time of fresh opportunity, with more time to spend with your friends and family, pick up old hobbies or take up new ones. It is also a time that needs to be planned for and anticipated properly, particularly financially given that your average income is likely to drop.

Planning Ahead

It pays to be prepared as retirement nears. From about two years out, start thinking about your options and planning for the choices you'll need to make. Consider getting professional advice because these are decisions that can shape your income for the rest of your life. You'll probably need to get used to a different pattern of income and spending when you retire. You're likely to have less money to live. Work-related costs will fall, and you may have paid off many of your debts. But your spending may go up in other areas, such as leisure, healthcare and, if you'll be at home more, things like heating.

The Money Advice Service's 'things to do as retirement approaches' checklist is a brilliant reminder for some of the key questions that need to be considered when choosing retirement, such as, types of pension, pension income and day to day budgeting.

Continuing to Work

As of 2012, around one in ten people of retirement age continue to work, or choose to re-enter the workforce. Some feel that they don't want to give up a job they enjoy, and many companies see the benefits of having an older workforce.

There are many benefits to continuing in the workforce in some capacity, assuming you're able to do so. Making money and bolstering your financial situation is one of them -- many people are finding that their savings aren't going as far as they thought due to the rising cost of living. Even if you're in a good place financially, additional finances can be used to pay off debts, save for an extended holiday or home improvements. Having a regular schedule and interacting with different people on a daily basis can also help maintain the emotional and mental health of retirees.

Voluntary Work

Volunteering is simple. It's about giving your time to do something useful, without getting paid (apart from expenses). In return you get the satisfaction of time and effort well spent. In addition, volunteering can be a great way to meet new people, learn new skills and gain useful experience. The range of opportunities is huge, and sometime slightly overwhelming in itself. Whatever skills and experience you have, there is something that you can do.

The biggest problem for many people is finding the time to volunteer. Retirement represents the perfect opportunity to become involved with voluntary organisations as formal work life curtails, and individuals look to utilise the variety of skills that they have accumulated throughout their lives.


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Fact Zone

There are two main types of fat: saturated and unsaturated. Saturated fat can increase the amount of cholesterol in blood, increasing risk of developing heart disease.


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