We are primarily retirement planners, but oftentimes we find ourselves also wearing the hat of a life coach for our clients. One example is the impact that the pandemic had on people’s retirement plans. As Covid gets more in our rear-view mirror, it provides a good reminder that nothing is ever guaranteed about our future; all we know is today.
Retiring in a post-pandemic world presents unique challenges and opportunities. The pandemic has accelerated many changes in the way we live, work, and retire. Here are some ideas for retirees to consider in this new reality:
- Embrace remote work: Many employers have shifted to remote work arrangements during the pandemic, and this trend is likely to continue. Retirees can take advantage of this by exploring part-time remote work opportunities or starting a home-based business.
- Invest in health and wellness: The pandemic has underscored the importance of maintaining good health. Retirees can focus on their health and wellness by staying active, eating well, and exploring new activities like yoga or meditation.
- Explore new hobbies: Retirement provides the perfect opportunity to explore new interests and hobbies. Whether it’s learning a new language, taking up gardening, or joining a book club, retirees can find fulfillment in pursuing their passions.
- Consider downsizing: The pandemic has led many people to reassess their priorities and downsize their living arrangements. Retirees can benefit from downsizing by reducing their expenses, simplifying their lives, and freeing up time to pursue other interests.
- Connect with others: Social isolation has been a major challenge during the pandemic, especially for older adults. Retirees can combat loneliness by connecting with others through online communities, volunteer work, or social clubs.
Retiring in a post-pandemic world may require some adaptation, but it also presents opportunities for growth and exploration. By embracing change and staying open to new experiences, retirees can enjoy a fulfilling and rewarding retirement.
It’s true that you do need to have your financial plan built so that you can safely do all those things you want to do and not have to worry about running out of money. We can help with all the technicalities of that part. But we’d encourage you not to lose sight of the bigger reason behind it all; so you can enjoy the life you’ve always wanted to live. In a world full of uncertainty, there’s lots of comfort to be had from knowing that you are in the position to live your life to the fullest while you’re able to.
– Matt Perrone, Lead, Financial Planner