Living Life after Retiring
Retirement isn't a day it's the rest of your life. Living life healthily and staying active is important - where you live and the care and support you need.
Fun holidays, affairs with hobbies and new found learning
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If we are forced to consider some vital things about life, we would find ourselves in somewhat of a quandary. Asked if we wish to enjoy life in our twilight years - a period that could last up to and over 30 years, the answer is of course in the affirmative. Asked the same about the present day and the next few years, the answer is doubtless the same. Yet we all know money doesn't stretch that far and life takes its own turns.
Career, family, children, illness, a roof, hobbies, sports, days out, nights in, holidays, working for ourselves. In all of this we are presumed to try and save for the future too with a pension plane, so that we are not sat on the sofa watching the Wrestling all the time. So how are your plans for retirement fanning out? Do you have any plans?
You may continue to work when you reach pensionable age, whether that's the private pension age or that of statutory pension age. A difference of almost a decade. The main issues you will face when that time comes is your health, your income, your time and you dreams. Some people are not lucky enough to take off five years from work to escape and retirement pretty much becomes the play ground of everything an adult may wish to do with so much money on their hands.
Yet you can all do all those things if you have money and your health. Whether paid or unpaid, voluntary or part time it has been found by researchers that it is very good for the mind and body if you continue to work for some time after you reach retirement age. Perhaps it's the sudden drop off of being responsible for something, missing the daily tasks and the vital exercise that turns a busy life into loneliness.
A quality of life is something we all try to achieve through out stay on the planet. We may work for ourselves, take six months and get back at it again. Or choose early retirement. In every case we try to get some value in return. Staying in work or keeping busy is important, to a certain degree as opposed to doing nothing at all. So that just leaves your health.
Stating the obvious, your body likes exercise and there is a real danger with the drop off activity and an increase in income and less expenses, that your body may start to change at the wrong time. Consider some of the following activities to keep life on the go before you decide what's next for you and a loved one.
- Mind that disposable income doesn't turn into weight gain
- Try to get up and go to sleep at the same time as you were used to
- Your bodily functions need to be kept on the move, how's about a walk?
- Consider going to the doc to understand how vitamin supplements can aid you in your senior years
Quite, you're only 55/65, a 90 your Nan ran a Marathon not so long ago, and people older than you are rock climbing, sailing and kayaking. You need not be so adventurous but a swim, joining a club so you stay socially active and to keep the mind alive. You won't believe how much you miss work, especially if you don't replace it with other activities. After all this has been said if you don't wish to retire and cash out, then don't! Keep your mind and body healthy and you'll earn more out of that guaranteed pension income annuity than the insurance company expected.
Life is not so simple, you can plan for it and watch most things not follow the route or you can live like fate exists and not have a care in the world. Whatever you though at age 20, 30 or 40 about where you were living and what you would be doing at ages 40, 50 and 60 was probably not even close to your original idea. Now however you are expected to consider your pension pot amount, how much you might need to live on and where you should be living.
You may end up moving around several times over the next thirty years or not at all. Will you stay in your own home? Move abroad to a sunnier climate or perhaps become immobile (not by choice of course) or need care in your own home? Opt for a smaller home such as a bungalow so it's easier to get around or perhaps a care home for the elderly? Let's see what might be and the choices you have:
Proud, Paid Up And Not Going Anywhere
- There's a reason you bought your last home, perhaps to accommodate the children. It's the family home, you love the area, you know it well and the neighbours too.
- You considered retirement, the bedrooms are still there for visitors and it will continue to be fantastic at Christmas time and other holidays.
- We all try to get away without seeing the doctor, some of us manage it for 20 years, but you know the surgery and they know you and in these years quit a few things may start changing, your doc is someone you know and perhaps trust.
- You've received the Equity release scheme even when you weren't retired. Your mortgage is nearly or completely paid off and should any issues arise or you want some of your own cash from the home, there are options on the table.
- If you do need care and support then a local council may look more favourable on your being a local for such a long time, not really how it should work but apparently it does.
- It might be nice to pass the home down to your children, a little nest egg that they wouldn't otherwise expect. But don't let living life get in the way of making the right decision, because downsizing might be an option.
The Family Home Isn't So Full Anymore...
- Sometimes a house can feel too big and as you get older those stairs - you could get a stairlift, are going to be harder to handle. Cleaning, maintenance, how many rooms / bathrooms do you need?
- Selling up and buying a smaller home could be beneficial to the finances and keep that guaranteed / flexible pension income saved for the holidays.
- You could move to the coast, the countryside or closer to your children
- Be sure when you do make the decision that you don't buy a smaller place for a similar value, unless upmarket is your choice
Upping Sticks And Moving Abroad For Sun, Sea And Solitude
- Some move abroad. Not only is a warm climate better for people with creaking bones, Winter really can be a downer, but the sunshine makes people happier too.
- Other countries can be cheaper to live in, much cheaper. France and Spain by at least half and the Black Sea by at 3/4s. Yet you can still get your pension if you live abroad.
- The concern however will be seeing family and friends, so if you do up sticks be sure you have a plan in case you really want to move back to the UK.
- There's also the health concern. Who would look after you and as much as we talk up the NHS, are the local hospitals and medical care much better?
Differences Between Retirement Homes And Care Homes
- Retirement homes and care homes are not the same, one is more like a hotel with the same tenant for years and years. Where bedding, cleaning and meals are prepared when you want them.
- Alternatively a care home is for the infirm or the immobile or for someone who needs a bit more care. Less of an hotel, with more nurses and carers on hand to assist. Both have different costs levied against the services.
Join An Entire Community Full Of Older People
- While a retirement home offers more freedom, leaving as and when you wish, consider what it would be like to live in your own home. Estates very rarely retain the same families these days, with many moving in and out, are your neighbours the same as they were ten years ago, as old as you?
- This is why a retirement village full of older people can be attractive. We would never really consider surrounding ourself with people of our own age. But when you have to walk ten roads to see someone your own age that you know for company or get a taxi into town for bingo or swimming...
- Well with a village, mostly everything you need is on site, a pool, a bowling green, cycling, pub, cinema, group activities and probably a healthy day tripper scene too.
- Care will come in many varieties from residential care to warden-assisted sheltered accommodation, and because it's local service might be cheaper and on hand quicker.
Like life, retirement living isn't really that much different, you just need to consider a few more things related to ensuring the pension income suits the pension plan and just as important, that you're happy and healthy too.
If you are reading this now and you are not venturing into retirement, yet have not enjoyed adventurous hobbies since you were a teen. Now is the time to understand that the only barrier to achieving those glorious fun filled moments is you. If approaching retirement then there is a whole world of activity awaiting you, even better now you have some real disposable income to look forward to.
I have read some blogs on retirement and some are seriously scary when it comes to mobile you can still be at 55. For instance, while it's fantastic to mention that you could spend your pension plan income on a golf course membership, you could also buy a yacht, learn how to sail and go around the world. Now how much more fun is that over trying to hit a ball into a hole?
You still have plenty of energy, cost need not be a major factor. There are walking clubs that accept all ages and sporting hobbies will more than welcome you. Mountaineering, orienteering, kayaking, pony trekking. These are just as suitable as a chess club, reading a book or being more social and joining sports clubs, badminton, darts or even poker.
With the years going past fast you maybe susceptible to diseases which knock your memory for six, affect your bones and cause all sorts of havoc elsewhere in your body. As long as you take care while staying active, these hobbies could keep your memory fresh and dementia at bay and keep blood flows and exercise at optimum levels. So hobbies are healthy and great for the mind.
With all these hobbies you to see the countryside, visit new places and get out more. You can jump in the car and go anywhere but even better if there's a reason and a communal feel to the event. Always be sure to check with your doctor before doing adventurous hobbies in your sixties, seventies and eighties. All of our bodies are different, some people can go skydiving ad run a marathon, others are best watching on the sidelines.
An hobby could be a business. Reinvesting money in a service or product you know could be fun as well as earn you some additional income. It need not be a large enterprise. Then there's voluntary work, if you have knowledge why not pass it on? To a youth group of the Cub Scouts, of offer your time to the homeless, helping other elderly people or going to the lecture circuit, standing for Parliament or the local council, be a Lord. With all of these things going on, don't forget your own family. Grandparents save their collective children £4 billion annually in childcare fees.
Holidays For Retirees And Over 60s
If you thought Wayne Rooney's wife went on holiday a lot, wait until you reach the age of 50 or 60. Many people can only afford one lavish holiday a year during their working years, some none at all. You can imagine what happens when the expenses are lowered and a pension cash windfall happens their way. Many stats show that people over 60 go on at least four holidays a year and not to Clacton or Margate, proper holidays abroad for the over fifties.
Holidays are the easiest thing to enjoy and take advantage of. There are the means for getting away, for solitude, to enjoy time with a loved one, to enjoy time with a new loved one or spend time with the family. Many older people do actually go on holiday on their own from time to time, either through necessity or through their own wishes.
The types of holidays vary just as they do for the younger generations. Age is not really a gap to enjoyment. We are different too, with separate past times. Some people like to bronze it up on a beach, but other can't stand just laying around. Museums, art galleries, theme parks, historic locations, there is a world of wonder just a plan ride away and you can bet that every 50, 60 and 70 year old that can is on it. So what holiday might you enjoy?
I know we keep mentioning walking. Ramblers clubs now an entire walking holiday. It is important to look after your health, walking even for twenty minutes can extend your life so you can grab more of that insurance company's guaranteed payments for a lot longer. Whether it's hill walking or taking in some low lying Scottish mountains, tumbling through Yorkshire or around the Devonshire coast, walking is great for exercise, fresh air for fantastic for the lungs and it's really good to get out in and see parts of the UK the whole world talks about endlessly.
Coach Trips And Holiday Parks
There is one main reason that coach holidays exist for the seniors in society, it's because hotel groups, holiday parks and caravan sites set up their own coach travel companies to pick whole communities up and take them miles away to enjoy an holiday together. Remember that holiday with Nan and Granddad in Rhyl, yes you was in on the deal.
Because these resorts offer package holidays they tend to be cheaper and there's usually plenty of activities on hand, meals and excursions on hand to keep you all entertained. What is more, you'll make friends too, hardly difficult when sat on a coach for two hours. These holiday companies tend to have hotels and parks around the UK and abroad, so once you get to know them, travelling further afield is a real joy.
The Cruise You have Always Avoided
Some people are cruise people. That's just the way it is. I didn't start on wine until I was 40 and the average age for going on a first cruise is around 50. Believe it or not, I am actually thinking I might be going on a cruise in the next twenty years. They are enormous ships today with every activity you can think of, swimming pool on top of an ocean, clubs involving crafts, cards, games and charades. Constant entertainment, music and shows to meals all day long and you get to visit ports across the world too. Did you know some older people, paid with their pension, stay on a cruise for the rest of their life!!
The biggest problem with getting older is letting yourself get old. By that I am suggesting that if you are not careful you may put yourself out to pasture like an old horse, when in reality 60 is the new 40. We've done walking to death, I promise no more walking. Sit down, how's about education as a past time? I would have loved to stay in college and learn great things about the world,but I had a need for money.
When you retire you have a lot of time and you have a bit of money spare, it is hoped. You also have a lot of hours with nothing to do unless you fill them with an activity. Now if I was short on income for the future but could afford a course. Contemplating what jobs I could do to help my community that didn't involve laboriously laying bricks or long hours, I'd think psychology.
People pay good money for people to listen to them and to suggest solutions and at the age of 65, it's one way to both earn money and not have to move around a lot do it. You'd help people also. There are more than 1000 subjects to learn at Open University and online colleges around the world. Either taken for fun or to aid in a financial income. If you ever wanted to learn more about science, the galaxy, the planet you have many years to study and to enjoy.
It can be rewarding, it's also healthy. if you keep those brain cells busy they will thank you for it longer term. You don't need to leave the home today to study but you can attend lectures if you wish. There's distance learning which still leads to diplomas and degrees. You could also consider adult education courses that are run more locally, on accounting, crafts, theology, computer course or learn Spanish for when you move abroad to Spain and into your new retirement village.
We joke about wheelchairs, stair lifts, walking frames and whizzing around in a mobility chair but it's a serious issue. If we can't get out and about to do the shopping one day - sure there's home delivery, if we can't go for a walk, get in the bath of our own accord life seems less about life and more about coping. That isn't right, is it?
Whether with disability, newly impaired or simply can't be out for too long, here's a few suggestions to keep mobile:
- A motorised scooter or mobility wheelchair is something you can drive yourself, most shops have been adapted to allow easy access and staff are on hand to assist when you arrive.
- Disability living Allowance (DLA) / Personal Independence Payments (PIPs) / Attendance Allowance is a financial top up from the government that enables you to hire someone to help or afford more transport costs or upkeep of that mobility aid.
- These same allowances enable you to pay for home help, meals delivered and any other help you need to get around the home.
Being disabled or getting old and finding yourself not comping too well does not mean life ends, it just changes and there are many groups, associations, family that are ready to help should you need it.