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Amongst my group of friends, who are mainly in the over 60s age group, there is a lot of talk about retirement. To be honest most of the men are already retired, whereas some of the women still work part-time. Up until recently I worked part-time in addition to writing my blog and doing some freelance writing work. After turning the milestone age of 60 I am beginning to question when is the right time for retirement?
Most of my friends and myself have worked part-time over the years and we often discussed whether we wanted to continue to work into our sixties. Our main problem is what do we do with ourselves once we do retire? We can’t go shopping everyday (or we would pretty soon run out of retirement funds!) We don’t want to turn into one of those ‘gym junkie’, bottled water-sipping, lycra-clad women who spend everyday working out at the gym. We don’t feel like taking up knitting, cross stitch or sudoku either!
My memory of my retired grandparents was that they grew roses in their garden, went fishing or sat around on their recliners watching daytime TV drinking copious amounts of tea! In other words they were fairly sedentary. During a recent visit to my Dad’s house I noticed that he has very wisely replaced the cups of tea with a drop of port! His philosophy is that at his age “it aint gonna kill him”.
I also notice that my mother does a lot of knitting, jigsaw puzzles and sudokus. I often ask her why doesn’t she go and play cards or bingo with other senior citizens. Her very prickly reply to that is “there are too many old people at those places”. Well I guess when I get to her age I’ll be in denial as well!
These days people at 66 years of age (legal retirement age), are comparatively younger than people of the previous generation. I’m sure you’ve heard that 60 is the new 50 and so on. Mostly people in this age group have better health than their parents and keep fit and active rather than sitting around. Hence they are spending their retirement travelling and taking up new sports or hobbies.
Using a retirement planning app can help you figure out what you’ll need and for how long, so you can live your best life throughout your entire retirement.
A good option to enjoy a comfortable retirement is a reverse mortgage in Florida. Unlike a traditional mortgage you aren’t obligated to pay portions of the money borrowed back on a regular basis. A reverse mortgage is a completely different type of mortgage that can actually provide you with money regularly. Those instalment payments can help you to improve your monthly income during retirement.
If you are not sure how much you can borrow use an online reverse mortgage calculator to assess your situation before applying for the loan. When you get a loan through a reverse mortgage lender you will have the security of knowing you cannot be evicted from your home. Defaulting on such a mortgage is nearly impossible unless you leave the home permanently. You must use it as your primary residence to meet the loan terms. If you cease residing there you or your family can pay the remaining amount owed. Otherwise, the home will be put up for sale.
So the question still looms, what do we do with ourselves once we retire? I think the answer to that is keep doing what we already do (apart from going to work!) If you really miss work start up a small on-line business, get a cushy little job a couple of days a week or do some voluntary work. Schools are always looking for people to help students with their reading and hospitals like volunteers to help with patients. If you’re interested in starting your own business but don’t have the necessary funds and don’t know where to begin, this checklist can help you get started!
Here are some other ideas:
Retirement is something that we all vie for as we get older, however from what I’ve seen first hand is that it sometimes comes at a cost of retaining our sense of usefulness and industriousness. I have seen many retired people become bored, lonely and even depressed. So my advice is to give retirement careful consideration, particularly before the age of 60.
What are your thoughts about retirement? Do you feel that people are retiring too soon?
For more great articles on retirement and planning for retirement read Jan & Rowan’s blog: Retiring Not Shy
This post is part of the Lovin’ Life Linky with a Lovin’ Life Team of the “ageing positively” kind who are as keen as I am to promote the Lovin’ Life mindset. The Lovin’ Life Team includes:
Kathy was a 50 something year old when she started up this blog 6 years ago, but has since turned over another decade and is now in her early 60s. She is married with two adult children and lives on the Tweed Coast of New South Wales, Australia. Kathy enjoys living life to the fullest and loves to keep fit and active by maintaining a healthy diet and exercising regularly. Some of her interests include reading, photography, travelling, cooking and blogging! Kathy works part-time as a freelance writer but her real passion is travelling and photographing brilliant destinations both within Australia and overseas and writing about it.
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