You may be about to retire, or your retirement might be some way off. Either way, you should consider what you will do with your time when you stop working.
Check out these nine ideas of things to do when you retire.
1. Travel
According to the Financial Times, we are in the age of the senior traveller. Today, there is nothing off-limits to the over-50s, with tour operators offering packages to almost any location.
ABTA has revealed that the over-75s are the most likely to set off on their travels alone. There has also been a rise in the number of solo travellers in the 55-64-year old group, with about 40% hoping to establish new friendships on their travels.
Most travel operators cater to senior solo travellers and groups. If you are struggling to find the travel package you’re looking for, try visiting a dedicated travel event such as Destinations. You’ll find a vast array of options, and you’re bound to find what you’re looking for.
2. Enjoy More Family Time
Retirement means enjoying more free time for many people. However, it also allows you to create some great memories with the people you love.
For instance, a multi-generation (3G) holiday is an excellent way to spend quality time with your family away from the stresses of daily life. Alternatively, you could visit relatives living overseas or organise an event to bring your extended family together.
Over 65s who look after their grandchildren could be entitled to National Insurance credits. If you have any gaps in your contributions over your working life, these credits can boost your State Pension. You can get details of your eligibility on the gov.uk website.
3. Take Up Walking
Walking is a great way to maintain your fitness and meet new people. You can enjoy some of the most beautiful walks in the country by visiting National Trust sites. Even better, you can get discounted access if you are over sixty.
Of course, you can walk anywhere, and there will likely be plenty of walking groups in your local area. You can check out the Ramblers website to discover other walkers in your area.
Alternatively, you could use the Borrow My Doggy service. If you enjoy walking dogs but don’t have one, this is an ideal way to combine your love of canines with an excellent form of exercise.
4. Keep Your Brain Active
You might have retired, but that doesn’t mean your brain has to stop working. You are never too old to learn something new, and keeping your brain active is also great for your well-being.
Sites such as OpenLearn offer an extensive range of courses you can study at a pace that suits you. What’s more, many of these are entirely free.
If you want a more traditional form of learning, you could consider returning to school or university. As a mature student with a lifetime of experience behind you, you might be able to circumvent the standard entry requirements. Also, you could qualify for funding to support your studies.
Keeping your brain active isn’t limited to academic pursuits. If you have a creative edge, you might consider taking up a craft such as woodwork, sketching, or jewellery making. Also, you could continue to develop your computer and digital skills. You can find courses online or at your local library.
5. Volunteer
Volunteering is not only an admirable use of your time but a great way to meet new people while helping others. There will be plenty of opportunities to volunteer in your community, and you can find these on sites like Do-It.
For instance, consider offering help to carers, organising charity events, or lending a hand on a community project. If you are passionate about a particular cause, you could lend some time promoting or supporting that.
6. Move Overseas
Emigrating to warmer climes might not go down well with your family initially. However, their attitude may change when they realise they have an opportunity for subsidised holidays. European Union countries are popular with many Brits moving overseas for their retirement. Among the most popular destinations are Bulgaria, Portugal, and Spain.
You should check things like healthcare and welfare in your chosen destination. Also, consider the cost of living and the effect of currency exchange rates on your finances. You can get information on how to draw your State Pension by visiting the gov.uk website.
7. Become a Blogger or Vlogger
This retirement idea might seem radical, but you might be surprised. Blogging and vlogging are not just for the younger generation. Indeed, after a lifetime of work, you have a wealth of skills, experience, and knowledge to impart. You can be guaranteed there will be plenty of people out there looking for answers or information you can provide.
Growing your following to a significant level can lead to endorsements or sponsorship. You might even discover that your blogging activities can supplement your retirement income.
8. Continue Working Part-Time
Traditionally, retirement has meant ceasing work entirely. However, in recent years, working patterns have changed, and many continue working part-time in retirement. Indeed, almost twice as many women are working part-time in their sixties as there are men.
Working part-time has many benefits. Not only does it allow you to receive an income during the early stages of retirement, but you can maintain meaningful relationships. You could ask your employer to reduce the hours in your current role. Alternatively, you could try something completely new.
9. Get Comfortable
YouGov research has revealed that around 28% of people don’t think they’ll have sufficient funds to sustain their retirement. More worrying is that 15% are sure they won’t. Planning your retirement finances is crucial to enjoying a comfortable retirement. Indeed, you can’t do the things you want without being comfortable.
Your pension will likely be one of your primary sources of retirement income. You can do a few things to ensure you get the most out of your pension pot. For instance, you should check it regularly to ensure you are not paying too high pension charges. Also, you should keep an eye on its performance as this will significantly influence your funds’ growth.
A regulated financial advisor can help you check your pension. Check out Portafina. They will then present you with your best options to maximise your pension’s value to get a comfortable retirement.