Coping Tips For the Newly Retired
The first year after retirement can be hard on anyone, even those who have saved diligently during their careers to gain their financial independence.
Some go through what is called retirement guilt, particularly if they have a spouse or others in their household who still work or go to school full-time. The free time can seem like a burden to those who have to watch their families continue to wake up early for their daily commute.
An important part of coping with the guilt, stress, or anxiety of being fresh from the working world is to remember that you have earned your retirement. Since you have put in a lifetime’s worth of work and saved for the future, you are now able to enjoy your later years.
Money tips
If you have not been able to save enough into your pension pot, coping with the first year of retirement can be particularly hard. Even if you have been saving, a good tip to reduce money worries is to try and spend less than what you have already budgeted. Since you will be relying fully on your pension and receiving no paycheque, you may find that keeping your bills low will alleviate stress for the long-term.
Luckily, the best things about retirement are free: no stressful commute to work, and time to enjoy all the things that you never had time for before. Now you can read a book, enjoy long walks with the dog, or work in the garden. Keeping your spending down can be easy once you see all the ways you can enjoy your time for free.
Too much time
Despite all the ways to enjoy life on a budget, many new retirees still find themselves wondering what to do with all of their free time.
One tip is to try spending more time with your friends, which will require effort on your part if many of them are still working. If your schedule is often free, look at it as an opportunity since you will be able to fit into many of your friends’ schedules. You’ll find that you have time for luxuries such as meeting a friend at their office, or making home-cooked meals for a dinner gathering.
Along the same lines, new pensioners should consider taking up a hobby. Your days are completely yours now, which means that you have time to explore interests that may have been forgotten over the long years of thinking about your job, stress from your boss, and your family. If you approach retirement as a time to rekindle your passions, your first year of independence will go by in no time.
