Life Begins At...

The Retiree Magazine Summer 2011-12

Life Begins At.....

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YOUR RETIREMENT 3. Finance Remember the Abba song, Money, money, money, it's a rich man's world? But are rich people always happy people? If this is the dominating ingredient in your life, then it's not a good recipe. Having a lot of money does not always equate with a better quality of life. Worrying constantly about money or hoarding it and not using it to enjoy your retirement can affect your health as mentioned in the previous section. Some people worry about never having enough money. But then, how much is enough? That's why it is so important to have a life plan for retirement to compliment the fi nancial plan. Then you'll have a much better idea how much you will need to fi nance your activities and be less likely to rush into big expenses that can chew up your assets. It is much better to 'try before you buy' – rent or hire and see how the idea of selling up your home to make a sea change or buying a motor home works for you. I have often heard people say after having a health crisis that, "Health is more important than wealth". There is an older man with only one leg who walks in the park near our place – slowly but persistently – and whenever I see him as I go walking past, I think to myself that I would rather have my own two legs than all the money in the world, as I love my walks, bike riding and swimming. 4. Freedom In earlier generations retirement usually meant staying in the family home for the fi nal years of life and winding down. Today retirees have so many more choices about where to live, travel opportunities, and when to actually retire, to name a few. Sometimes the choices and changes in this new stage of life can be 138 THE RETIREE SUMMER overwhelming. So often in seminars pre-retirees tell me the thing they most look forward to is freedom, to do what they like when they like. Retirement can fi nally be that time in your life to have the freedom to start doing new things, having more time for hobbies, travel or spending more time with grandchildren. I do think that the more you have considered your choices well before retirement, the less daunting it is. For much of your work life the routines of everyday life were fairly well set in place. It was easy to say, "One day..." Later..." "When…" "Then...", when it came to talking about things that you'll do in the future. In retirement those former structures and routines are gone and you now have a blank page to create the life you want and let go of old habits and commitments that no longer serve you. Some people embrace this new life and freedom with excitement and anticipation and some with nervousness at the thought of making changes. Sometimes old patterns can be hard to change. Just don't put it off till later because that can be too late. Is worry about money holding you back from doing something you would now love to do? You can't take it with you when you leave this earth. We have one life so let's make the most of it! 5. Fellowship Having friendly associations with others in our lives – family, friends, etc. – and how we relate with others can affect our health and wellbeing. Communication is a very important ingredient to add the right mix to the other ingredients, especially when there are money issues to discuss, important choices to make and boundaries to set. If you want some freedom to enjoy your retirement then you need to communicate your wishes to family members and set some boundaries of your availability. If you and your partner need to make some major lifestyle decisions, being open and honest about how you feel is really important as it could lead to an explosive and costly situation down the track. Maintaining regular social contacts is very important for our health and wellbeing, especially if you live alone, are widowed, or divorced. 6. Fun If you are working on getting the right mix of the other fi ve ingredients, this will be the icing on the cake! Variety is the spice of life. Create a mix of activities in your weekly planner, as mentioned in earlier sections. Live the width of your life, not just the length. Live in the present moment, not looking back at what was, or waiting for the future. There are many fun things you can do that don't have to cost a lot of money. Ask yourself, "Would you rather be rich or live a rich life"? I hope I have given you some insights on how to cook up that great life in retirement. Happy cooking!

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