Mak­ing plans to en­joy re­tire­ment

Hastings Leader - - Gardening -

It should be a time when we have the free­dom to travel, study, take up new sports, and do the things we’ve al­ways dreamed about.

Each year, more baby boomers — those born be­tween 1945 and 1965 — face re­tire­ment. For this gen­er­a­tion, re­tire­ment will mean some­thing dif­fer­ent to that of ear­lier gen­er­a­tions who val­ued re­lax­ation, pot­ter­ing in the gar­den and per­haps tak­ing an over­seas hol­i­day.

In 1950, life ex­pectancy was 67 years for a man and 71 years for a woman, so re­tire­ment was gen­er­ally a short re­ward for a long life spent work­ing, of­ten hard phys­i­cal labour.

To­day, ma­chin­ery and tech­nol­ogy have taken away much of the back-break­ing work and peo­ple are less likely to be worn out phys­i­cally by age 65.

Life ex­pectancy con­tin­ues to in­crease, with the fastest grow­ing age group be­ing aged 80-plus.

So the is­sue has now be­come how do we plan a life af­ter work that might be 25 to 30 years long?

There are two ma­jor prob­lems — one is fi­nan­cial, the other is life­style.

Baby boomers are used to an ac­tive life­style. They want to hike the Grand Canyon or go on a bike tour of Tus­cany.

New Zealand Su­per­an­nu­a­tion is de­signed as a fi­nan­cial safety net, not a liv­ing wage.

If we want to pur­sue ex­cit­ing ac­tiv­i­ties we will need a lot more than the gov­ern­ment pro­vides.

While peace of mind that our nest egg will sup­port us when we stop full-time work is im­por­tant, so too is how we spend that nest egg.

A few key ar­eas to con­sider when plan­ning your fu­ture in­clude:

Health: Part of any life­style plan should in­clude a clear strat­egy for stay­ing ac­tive and healthy. Think about what type of reg­u­lar ex­er­cise pro­gramme you can de­velop to keep you in good shape.

Fam­ily and re­la­tion­ships: Many peo­ple say that spend­ing time with fam­ily and friends is im­por­tant to them. How­ever, when a part­ner fin­ishes work, it’s not al­ways easy sud­denly hav­ing them around all day.

Part­time work: A num­ber of re­tirees will work past 65, some be­cause they want to, and oth­ers be­cause they have to. Do­ing some sort of work, even vol­un­tary work, can be great for men­tal stim­u­la­tion and so­cial in­ter­ac­tion.

Hob­bies and in­ter­ests: De­vel­op­ing new in­ter­ests or hob­bies can make your re­tire­ment years both busy and ful­fill­ing. It might be go­ing to arts and crafts classes, tramp­ing, coach­ing young ath­letes or learn­ing to fish.

In­tel­lec­tual growth: Our brains don’t stop work­ing when we reach 65, so think about do­ing some pa­pers at univer­sity or join­ing U3A (Univer­sity of the Third Age). There are plenty of in­ter­est­ing and chal­leng­ing cour­ses.

Con­tri­bu­tion to so­ci­ety: For many peo­ple, re­tire­ment is a time to give some­thing back.

Hav­ing skills and ex­pe­ri­ence, re­tirees can make an enor­mous con­tri­bu­tion to so­ci­ety.

If you want a suc­cess­ful re­tire­ment, you need to plan for it now — it won’t just hap­pen.

To de­velop a clear vi­sion for the fu­ture you need some goals and you need to un­der­stand how you will achieve them.

Re­tire­ment — a time to en­joy your­self, so make plans.

Newspapers in English

Newspapers from New Zealand

© PressReader. All rights reserved.