AAC –Life Challenges – Life Transitions – Retirement – Q1 – Sylvie

How can I plan for a fulfilling retirement?

Transcript

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How can I plan for a fulfilling retirement? Each person will define the word fulfilling differently. However, there are a few areas to consider when planning a fulfilling retirement. So number one, financial factors. It is worth visiting www.gov.uk forward slash plan retirement income for basic information around pensions and other useful advice. It's a good time to assess your current situation such as the pensions, state pension entitlement, your savings and investment returns, and any debt you currently have. Calculate what finances you will need at the basic level to cover household bills, healthcare, travel hobbies, and include savings for a rainy day. Then calculate what income you will be receiving and how this can be maximized. If you need help at this stage, it is worth consulting a financial advisor, an independent one, and also to remember to review your finances every year as the economy changes. So number two, health factors. Really try and keep on top of your health with regular checkups with a dentist, optician, and keep up to date with GP screenings, things like that. Also, obviously, regular exercise, looking after what you eat and getting enough sleep, the basics really, but this becomes more important as our value on health increases. Health is everything, so that you can enjoy retirement and continue to enjoy this stage of life, which you have worked so hard for. So be proactive in protecting and maintaining your health, catching any potential problems early. Number three, social factors. When we leave work, we also leave behind colleagues and the social daily interactions they offer. It is so important to look at alternative ways to get this interaction. So you have more time on your hands when you retire, and this opens up new doors to meet new people and do new things. And this, as we grow older, can help us to keep a positive mindset. Helping others and supporting others also gives us a great sense of purpose. Number four, legacy planning. Peace of mind can come with knowing that you have everything sorted for when you're no longer here. You can relax then and enjoy your retirement knowing that everything is in order. Sometimes putting off things keeps us thinking about them. Oh I must write my will. You know, it's going to take up more headspace, and then you're taking your focus away from living well onto when we're no longer here, which is less of a positive mindset to be in. So number five, purpose and identity. It's really worth sitting down and clarifying your goals, your non-negotiables, which aspects of your current life and unrealised dreams or goals are you wanting to work towards in your future and maintain. Maybe take some time to reflect what gives your life purpose beyond your job. Continuing personal growth is important. Maintaining routines is important. And all of these things help you to redefine your identity without losing your previous. Finding new purpose becomes very important. And you can do this by finding purpose in your community, supporting others, and you know, growing, doing a new course, taking up a new language, a new exercise class, anything like that. And family as well, family become more important. So connecting with the family, being there more for your children, your grandchildren if you have them. And these all become a new part of your identity. So I hope this information has been useful, and I would recommend going to visit the gov.uk website around planning your retirement. That's a great place to start. Thank you.