3 Things To Know Before You Leap Into Retirement

Financial aspects of retirement are, of course, important. However, the non financial aspects are also important. Let’s look at some of the non financial aspects in retirement. Here’s 3 things to know before you leap into retirement.

Photo: Mary Taylor

What are you going to do in retirement?
‘Relax, go travelling, look after family, visit friends, improve the golf’ are often responses from people approaching retirement.  Or join the ‘Fishmore and Dolittle Club’.

Other people have a more regimented approach to their retirement, with plans for 3 months, 12 months, 2 years after retiring.

Still other people had created sections of their ‘lifestyle pie’ with volunteering, part time work, sport, learning and socialising. 

Photo: Bret Kavanaugh

The Importance Of Mental Challenges
Anna Wroblewska, writing in JStor says, more mental stimulation leads to better mental preservation, while a lack of stimulation results in the opposite—a faster rate of deterioration.

For Lorna Prendergast graduating with a Masters Degree in Ageing, at age 90, was one way of keeping the brain active in her retirement. Her studies, however, were also way of finding out if music was a ‘form of temporary relief for people affected by dementia’ – thus helping the community.

David Bottomley is also a firm believer in learning in ‘retirement’ (actually don’t even mention the ‘r’ word with David!). When he graduated he was Australia’s oldest Phd graduate.

Stephen Petersen lectures at Laneway Learning  He is also the author of ‘on turning 55 (or 65, or older)

Not everyone in their retirement wants to go to university to learn and graduate. There are so many other learning opportunities available, such as via friends, community courses, sporting and other clubs. Plus there’s the internet – a source of learning new skills for many people.

Where are you going to live in retirement?
In Australia we are blessed to have many great lifestyle locations, but should you move in retirement?

We’ve researched over 200 locations around Australia (and continue to research) and chatted with many people about why they moved. What do they enjoy about their new location?, What do they like about their new location.

But should you move? Will it be in your best interests?  Some people downsize, whilst others upsize in retirement – particularly people who yearn to have a few hectares around a property.

Photo: Karolina Grabowska

When we research ‘Where To Retire In Australia’, there is a long list of items to view. Ranging from medical facilities, cost of living, transport to sporting and cultural facilities. There are so many things to look for when considering a move in retirement.

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