It’s not surprising that, according to the American Time Use Survey, retirees enjoy 7-8 hours of leisure time per day. Your newfound free time in retirement is equivalent to a traditional workday in the office. Only, you might be able to squeeze in a few more naps and hours of television than you could when working. So, how do you maximize your leisure time in retirement? Here are a few fun things to consider doing during your extra free time in retirement that won’t break the bank.
While we always stress the importance of planning and saving for the long-term, it’s also important that you create a plan that allows you to enjoy your life in the moments that matter most to you. After you leave the workforce, you should be able to enjoy some nice things and have good experiences. We’re not telling you to splurge and buy an unaffordable yacht to cruise the open ocean with, rather seek out those things or experiences that matter most to you, and the ones that will bring you happiness. Consider things like how you want to stay in touch with family and friends, whether or not you want to work or volunteer, or whether or not it makes sense to downsize your home and relocate to a new area. Planning for things like these will deliver a more rewarding and gratifying life in retirement.
As much as we all love our alone time, it might be a good idea to seek out a companion to spend more of your leisure time with in retirement. Yes, your significant other can come too, but what we’re talking about is a pet. Pets are loyal and loving companions, and getting to pamper an animal can help fill-up your days and bring you happiness in retirement. You can also look at adopting a pet as a mental health investment. It’s something that won’t break the bank, and it might even help to fill that void that was left years ago when your kids went off to college and began living their adult lives.
But what if you already have a pet and aren’t ready for a second or third one? Well, perhaps it’s time for you to consider connecting and spending time with younger people. Whether it’s taking your grandkids to see a movie every once in a while, or being willing to pitch in for their college funds, one of the most fulfilling experiences of retirement could be helping younger generations. And, it doesn’t have to be one of your grandkids. Maybe there’s someone in your neighborhood who you could help look after or a volunteer type program that puts you in touch with younger folks. Your true adventures in retirement can go beyond just a specific destination. Some retirees will tap into their strengths and become mentors and role models. Volunteering or becoming a leader in the community can offer meaningful, and exciting experiences that travel does not.
However, travel is one of the most desirable things to do in retirement. It’s the perfect opportunity to let your travel bug loose, especially if you’ve been forced to stay put for most of your career. Just make sure that your travel plans coincide with your budget. You can also look to travel during the off-season and enjoy the discounts that come with doing so. Plus, tourism agencies usually have senior discounts for you to consider taking advantage of.
Ultimately, no matter what you do to maximize your leisure time in retirement, it’s important for you understand that life is about more than just money. You too can become a super-ager by continuing to challenge yourself both mentally and physically. We want your retirement to be filled with spending time with the people you love, doing what you love. If it’s been awhile since you last sat down and spoke with a trusted financial professional, then click here to request your complimentary financial review. We’ll work together to develop a solid plan to help you achieve your retirement goals without taking on unnecessary risk.