Planning for your retirement can often be challenging and you'll have spent many years saving into your pension to ensure you have enough to live comfortably in your old age. However, there are lots of exciting things you can do once you retire too.
Here are just a few of the top activities you can take part in after you finish work.
1) Go travelling
One of the most popular things you can do is embark on a travelling adventure. Lots of people wait many years to see the world, watching their children head off on amazing holidays to exotic countries. However, when you're retired, this is your chance to do the same.
There are lots of places in the world to visit, so whether you want to go on an expedition for a few months exploring many different countries, or you wish to spend a long time living somewhere else, retirement could present you with a great opportunity to head abroad. You also have options if you want to free some cash to pay for this, including releasing equity in your home and receiving money for a proportion or all of your home.
2) Get in the community spirit
Another – less costly – thing to do is to enjoy being part of the community again. Years spent working means you probably didn't have time to help out at local fairs, attend neighbourhood meetings or give your assistance at village or town events.
However, you now have time on your hands, which means you can really get into the community spirit; you never know, you could bring forward new ideas for the local area, shed a different perspective on how things are run and perhaps even make new friends with people you never knew lived nearby.
3) Rediscover hobbies
As you'll have all the time in the world, this could be the ideal time to get back in touch with old hobbies you used to enjoy doing. It is not often we get to really take part in our pastimes, whether it's knitting, swimming, reading or making decorations, so make the most of this opportunity.
You could find that you can pick up where you left off and you haven't forgotten the skills you once had. Or, you might discover a new set of hobbies to do – perhaps you suddenly realise your love for making curtains, doing Tai Chi with your friends or completing Sudoku puzzles!
4) Give yourself a new project
Your hobbies will satisfy you for a few hours a day, but if you're used to a working life, you may find it difficult to switch off and relax. If this sounds like you, sinking your teeth into a project could be the ideal solution. While you might not want to do anything too strenuous, this could be the optimum time to redecorate your house, invest in a property development or begin a small business selling cakes at local fetes.
5) Spend more time with family
Of course, perhaps the best way to spend your retirement is to enjoy time with your family. You may have not been able to go on holidays with your grandchildren before, but now you can pick them up from school, babysit and have them stay for long weekends, giving you the chance to really appreciate moments with them.
If your youngsters live far away, this is a good opportunity to visit more often and make sure you don't lose the special bond you have with them.
If you're looking to boost your finances in retirement, you'll find there are several options to choose from – and making the decision over which one to pick will partly depend on the lifestyle you hope to achieve after leaving work. Read on for our guide to the potential avenues open to you.
If you're looking to supplement your state pension with additional income upon retirement, you may be affected by plans to change the pension system to make it simpler. Read on to find out more about this issue and what the implications may be for your income.
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