Making the most of your retirement

Approaching retirement? There are so many ways to use the time in a rich, rewarding fashion.

Some people plan for every moment of their retirement. Others approach it with a sense of fear about the amount of spare time awaiting them. But that free time can truly be a gift. Whether it’s seeing more of the world, spending more time with loved ones or picking up a new hobby – there are plenty of things to do to keep you busy in your retirement. Here are some of the best…

Travelling

You could take a city break to Paris or Barcelona, or travel further afield to America or Vietnam – the world is your oyster. Now is the time to plan that dream holiday and experience new cultures and experiences from around the globe.

Spend more time with loved ones

Spending quality time with children and grandchildren is a common favourite amongst retirees. Plus being able to help your children with babysitting, picking up their kids and help around the house can really help your loved ones get some free time of their own.

Get a hobby

Gardening, puzzles and woodwork are just some of the potential hobbies you could pursue in your new free time. This will give you something to look forward to as well as the chance to interact with others about something you both find interesting.

Volunteer

This is a rewarding choice for many retirees. From mentoring children, to helping a small business on a project, assisting at the library or hospital - there are plenty of opportunities for you to help out.

Make home improvements

There may be jobs around the home you’ve been putting off for a while. Yet now is the perfect time to address these changes you’ve been meaning to make to your home - even if it’s a just applying a fresh lick of paint, or buying a new kitchen or conservatory to enjoy in retirement.

Make new friends

Making new friends can help you broaden your horizons, and learn new things, which can all help to make yourself feel younger and more interesting too. With increased free time, it’s important not to overlook the importance of making the necessary arrangements to ensure you have enough money to be comfortable in retirement from your pension savings. There are different options available to access your pension income, with one of the more popular pension-income options being a pension annuity which offers a guaranteed income for life, and the potential to enhance your income by up to 50%1 depending on your health and lifestyle. Whether you’d like more information on an annuity, or your other options, it’s important that you seek professional advice or guidance from an individual or company like Age Partnership who are regulated by the Financial Conduct Authority (FCA) to ensure you remain protected and understand all the risks associated with each pension-income option to help you decide how best to access your pension savings. Source: Which? 2017