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How to Stay Busy in Retirement

Originally Posted On: https://www.iquanti.com/

 

Retirement may be accompanied by a sense of joy and anticipation – you finally have the time to write that novel or plant the vegetable garden you always wanted! And while some retirees have well-laid plans for how they want to spend their free time, others may find themselves feeling adrift. Not many people give much thought to how they want to spend their retirement, but this can be a very gratifying process. Your hobbies are a great place to start, but if you’re at a loss, consider these four ways to stay busy in retirement:

Figuring out your finances

When figuring out your retirement lifestyle, it’s important to understand how much money you have to work with and where it’s coming from. Take some time to look at your full financial picture, including social security, retirement accounts, pensions (if you have any), and other sources of funding like rental income, and even the cash value of permanent life insurance. You can access the cash value of a permanent life insurance policy like whole life insurance or universal life insurance for any reason. This can be particularly helpful during market downturns when you may not want to withdraw as much from your retirement accounts, and to manage taxes. Remember, accessing your life insurance’s cash value reduces the death benefit.

Take a trip

Now that you don’t have to apply for PTO before taking a vacation, you’re free to explore the world at your own pace. These days, many tour operators offer custom travel packages designed especially for retired folks. A group tour is not only a great way to visit places you may not otherwise see, it also gives you a chance to meet other travelers.

Consider volunteer work

Volunteer work can be a great way to meet people and stay busy after retirement. Some retirees may enjoy working at pet shelters, while others may have more to contribute at a soup kitchen or local charity.

Some retirees may find ways to use their professional skills to support small or understaffed non-profits. Writing content for brochures, bookkeeping, offering pro-bono legal advice, or even just taking on admin work can all be satisfying ways to keep your skills sharp as you contribute to your community.

Explore new hobbies

For many people, retirement is the time to experiment with new activities. Try cooking or painting classes, book clubs, dance lessons or even yoga workshops. Don’t worry about prior experience – focus on learning and enjoying yourself. These activities can help you develop creative skills or just get your body moving. Group activities are also a great way to meet new people with similar interests and form new friendships.

 

Reconnect with old friends

We all have a college buddy or elementary school best friend that we fell out of touch with. When you’re working, it can be difficult to find time to meet or call old friends. Retirement can be a great opportunity to rekindle some of those old friendships. These days, social media makes it easy to find people online. But even if you’re not a social media whiz you can reach out through mutual acquaintances or alumni networks.

 

The primary purpose of permanent life insurance is to provide a death benefit. Using permanent life insurance accumulated value to supplement retirement income will reduce the death benefit and may affect other aspects of the policy.

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