Despite understanding that their working years will end eventually, many people fail to consider what they will do when they retire.
If you’re one of these people, here are 9 ideas for things to do in retirement.
Do some travelling.
According to the Financial Times, there has been a significant rise in the number of 50 to 70-year-olds seeking travel adventures.
Many tour operators are now focusing on this age group, offering trips to all corners of the world from Athens to Arizona, the Balkans to the Bahamas, and Queensland to Québec.
Moreover, these senior travellers are not put off by travelling alone.
According to a recent ABTA report, the over 75’s are the most likely demographic to travel solo.
The travel organization also revealed that the number of 55 to 64-year-olds who travel alone recently jumped to 17%, a 6% rise on previous years.
Approximately 40% of the senior travelers set off intending to find new friends during their adventures.
Travel operators have recognized the need to cater to such groups, so you’ll have no problems finding one.
You might consider looking at destinations or other dedicated travel events as a starting point.
Have More Family Time.
Many people relish the thought of having a child-free home when they retire and having the freedom to do what they want.
However, your retirement presents you with opportunities to create new memories and strengthen family ties.
A great way to achieve this is through the so-called 3G, or multi-generation, holiday.
Spending some quality time away with your family, free from the pressures of everyday life, is something precious.
You also might want to consider organizing an extended family gathering or visiting relatives overseas.
For those people who are under 65 and look after a grandchild, you could put this towards building your state pension.
To qualify for the full State Pension benefit, you must have made 35 years’ worth of NI (National Insurance) contributions.
Looking after a grandchild under 12 can help you fill any gaps you may have in your contributions.
You can get more information about your eligibility for this on the gov.uk website.
Continue to work part-time.
Working beyond your planned retirement age may not have been one of your first considerations.
However, there are certain advantages to continuing to work part-time. There are many online platforms like Survey Voices that will let you earn money by doing simple tasks that require minimal effort.
Also, doing so will allow you to continue contributing to your pension.
As always, taking financial advice from a regulated advisor such as Portafina is highly recommended.
It will also let you try something new and get paid for it. Finally, you may not be ready for retirement, so part-time work can help bridge the gap.
Working part-time in retirement is not uncommon.
In 2018 the proportion of people aged between 60 to 64 in full-time employment was around one in three. This figure is a considerable jump from the previous ten years when it was around one in five.
Take a walk.
Walking is an excellent form of exercise, and a great social activity too.
If you are over 60, you can get discounted membership of the National Trust, which lets you walk hundreds of stunning trails.
You may also consider joining a local walking group.
To find one of these, you can visit sites such as Ramblers. Another option, if you’re a dog lover, is to take other people’s dogs for a walk.
The Borrow My Doggy service is filled with people needing someone to walk their dog.
Exercise your brain.
It is never too late to learn something new, and your retirement presents you with plenty of opportunities to do so.
OpenLearn Is a fantastic online resource offering a range of free courses, including everything from poetry to philosophy and music to mathematics.
If you want to get more formal qualifications, you might consider going back to school as a mature student.
If this is something you might want to do, there is a possibility of getting funding for your studies.
If you’re more into creativity than academia, you might consider learning a new skill such as woodwork, sketching, or jewellery making.
As well as searching online, you can get information on such courses from your local library.
Do some volunteering.
Volunteering is an excellent way of meeting new people, making new friends, and helping others.
There are countless opportunities to get involved in your community and help out with something meaningful to you.
The website allows you to search through millions of volunteering opportunities near you. Such opportunities include organising events, supporting carers, raising funds for charity, and so on.
Move overseas.
Your decision to move to sunnier shores might not go down too well initially with your family.
However, when they realize they have the chance of frequent holidays, they may change their minds.
Popular destinations for emigrating seniors include Portugal, Spain, and Bulgaria.
However, before you set sail for foreign shores, you should first check on certain things such as access to healthcare, your welfare rights, cost of living, exchange rate fluctuations, and so on.
You can get information about accessing the State Pension while living abroad from the gov.uk website.
Become a blogger.
You may think that this activity is more suited to your grandchildren, but you could be wrong.
A lifetime of work will have provided you with considerable knowledge and experience of many things.
You can be guaranteed there is someone in the world who will need what you know.
Blogging or vlogging (video blogging) your knowledge is not only fun, but it can also provide you with some income from advertising and endorsements.
Play your cards right, and you just might be the next Internet sensation
Get Comfortable For Retirement.
Being financially comfortable means you can have a more stress-free and enjoyable retirement.
Unfortunately, around 28% of UK adults anticipate having insufficient income during retirement.
Moreover, approximately 15% are convinced this will be the case.
Planning for your retirement is something you should start doing long before you intend to retire.
One thing you can do straight away is to begin checking your pension regularly.
Doing so will allow you to spot any high chargers or underperformance and take action to rectify these.
Of course, you may not feel comfortable doing this yourself.
Therefore, using the services of a regulated financial advisor will help you make the best decisions regarding your pension and its performance.
Conclusion
Your retirement is inevitable, as it is for everyone else. However, many people fail to consider what they will do during this phase of their life.
Hopefully, reading this brief article will give you a few ideas of what to do when you stop working.
Even if you had made plans, perhaps these nine ideas for retirement can help you further.