Mentally preparing for retirement

You can only read so many books, watch so many reruns and plant so many gardens when you’re retired. Frequent globetrotting likely isn’t affordable, either.

So, how will you spend the next 15, 20 or 25 years (or more) of the next stage of your life?

Being mentally prepared for retirement is just as important as the financial aspect. (Take advantage of our retirement planning worksheet).

Your honeymoon stage of retirement - when a month or two just seems like a long holiday - will be thoroughly enjoyed. You don’t have obligations. Your days are unstructured and you can choose to do whatever you want, whenever you want.

Stay active, keep busy

Once this period fades, however, it’s easy to find yourself bored, lonely or tired of what Netflix has to offer. The social and psychological issues in retirement often are underestimated.

The one thing you don’t plan for in retirement is what you’re going to do with all the free time.

The solution is simple: Keep busy.

• Pursue hobbies and interests you didn’t have time for when working full time.
• Connect with friends and neighbours.
• Join a club or a fitness group or enrol in an evening class.
• Exercise has many benefits. Strengthen your muscles, manage your weight and improve your mental health.
• Understand technology. It can help you do a lot of things like keeping in touch online with family in other cities or countries.
• Part-time employment. It comes with a bit of extra income and a socialization perk.

Regardless how you choose to spend your retirement, you’ll need to replace your work routines with new routines. It’s a significant lifestyle adjustment.

The career you recently ended likely gave you a direction, a feeling of purpose or sense of accomplishment. It made you feel useful and worthy.

Retirement is a time when you need to discover a new purpose in life to make your retirement years feel meaningful. What excites you or motivates you? What are you passionate about?

Find something(s) that can push you or inspire you and keep you active. Because watching television all day in the same chair in the same room is not how you envisioned your retirement.