If you are retired, you already know the biggest problem. You may not have figured out how to fix it. If you’re getting close, but haven’t taken the final step to punch out for the last time, you may be able to sense it.
Sooner or later, you are going to have to face it. Once you do, here are some thoughts to help you fix it.
Here is a key.
Your biggest problem with retirement may not be the same as my biggest problem. So how do you fix a problem you can’t identify?
The first step is learning what your biggest problem is. Not mine, and not your friend’s. You are unique. There is hope, though. Although you will have a one-of-a-kind retirement, and your biggest problem won’t be the same as someone else’s, here are some common retirement problems and some ways to fix them. This list will give you a head start on a solution once you determine what your biggest problem is.
- Not enough retirement income
The best time to start working on this one is at the beginning of your work history. The second best time is in your twenties. If you are nearing or already in retirement, that solution is gone like last summer, but there is still a number of things you can do. The third best time is now.
- Consider a reverse mortgage
A reverse mortgage can add your monthly mortgage payment back into your pocket. Talk to the SunRiver team to find out if you qualify and how to get started.
- Find less expensive alternatives
For many retirees, finding a less expensive alternative frees up the money they need. Rather than paying for an evening’s entertainment in Vegas, join hundreds of your neighbors and friends at SunRiver’s free concerts and events. Bring your own beverage. You can save a hundred or more per outing. It’s not settling or cutting back, it’s reallocating resources.
- Accept part-time work
You have a lifetime of valuable experience that many local businesses would be foolish not to learn from. You don’t want a real job, but a few hours a week helping out a local business may be just the thing…added income for you, needed help for the business.
- Bored, bored, bored
Believe it or not, even though doing nothing may feel good for a short time, doing nothing isn’t a way of live for people like you. You have integrity, and sitting around doesn’t feel right.
“Leisure is a nice thing to enjoy as a break from work, but that doesn’t mean it is equally enjoyable when it is all there is. It can be far less pleasurable, even outright boring, when it is the only thing we have to look forward to, day after day, week after week, month after month, year after year, for what may literally be decades of retirement.” (Michael Kitces, WSJ, Oct 13, 2014.)
- Find something enjoyable to do
Go out and find things to do, don’t wait for them to come to you. At SunRiver, we have over 50 clubs with a wide range of interests and activity levels. Volunteer at a local charity. Accept part time work. Stay active.
- Make new friends
SunRiver residents move here to get out of the cold, snow, ice, humidity, rain, you name it, and we have residents who are here to get out of it. We all have one thing in common. We want to enjoy our retirement and stay active. Enjoying the concerts, events, and activities is more fun with friends. Talk to the people at the table next to yours. Invite someone new to sit at your table.
- Start a new career/business
If you are the kind of retiree who can’t sit still and you miss the entrepreneurial challenge; rather than working for someone else, even part-time, start your next business. You have the luxury of knowing you’ve already had one successful career. Now you can take your experience and skill and strike out in a new direction. Do something you’ve always wanted to do but didn’t have the time.
- Not enough energy
One of the big problems with retirement is finding you don’t have the energy you used to have. There are some solutions.
- Have a medical checkup
The first action to take is to make certain your lack of energy is not from some medical problem. Some of the medical reasons for lack of energy are simple and easily treated. You may lack some essential vitamins or minerals. Other causes may be more serious, but you won’t know until you get a health assessment.
- Get or stay active
The more active you are, the more energy you will likely have. As SunRiver St George’s Lifestyle Manager, Lisa McLeod says, “You don’t stop playing because you grow old – you grow old because you stop playing.”
The same could be said for becoming inactive. You don’t become inactive because you grow old – you grow old because you become inactive. Your body was built to move and keep moving. Everything tends to work better when you keep moving and stay active, and tends to clog up and run down when you don’t move.
- Enjoy life
Have you noticed you have more energy when you are engaged in something you enjoy? Conversely, when you are bored your energy sags quickly. Find activities you enjoy and do them with people you enjoy being around. You will find you have more energy and more fun.
I hope we’ve hit on your biggest problem with retirement. If not, you probably know what it is, and you’ve seen some ideas on solving the problems we mentioned. Don’t ignore your problem, identify it, find a solution, and take action. Here’s to a happy, healthy, and lengthy retirement.