JOST Insights

Once we have a client's long-term financial strategy in place, we find retirees shift the anxiety from money to time. We often form reliable income plans to address how money is going to be spent, but just as important is a plan on how all this extra time is to be spent. Obviously, traveling the world would be nice, but that is not only expensive, it can ultimately be unfulfilling more so than  people anticipated. So what can you do with all this extra time that adds richness to your life that you do not have to be rich to enjoy? Here are some items we came up with based on years of discussions with retirees.

1. Sit in on university classes as a student or Auditor

        I always thought college would be fun if you could just observe the lessons, participate in class discussions but did not have to worry about exams and assignments. That is exactly what seniors can do at a local State-funded college. Find topics that interest you and just go to those classes. Many States offer free tuition for seniors and this is a great way to keep your mind and body active by having a schedule with a place to go and a subject to learn more about.

2. Read

      There are so many classic novels that have been written over the years, many of which are just too cumbersome to get into while you have a career. Now may be the time to finally get inside the mind of Dostoevsky, Dickens and Rand among others to see what all the buzz is about. Even better is if you and your spouse or friend(s) can read around the same pace and discuss chapter by chapter.

3. Increase physical Activity

     Now that the "don't have time" excuse is off the table, add-on to your physical activity routine. This is not only great for longevity, but will also be a mood boost and social enhancement. You do not have to exhaust yourself, but any increase to your normal routine will pay dividends, especially when the sun is out! Always a good idea to run this one past your doctor to make sure the activity(s) you choose are aligned with your long-term health plan.

It has been said that the number one killer of senior citizens is retirement; this is often because the post-career phase of life leads people's minds and bodies to a more stagnant state than when they were working. Leaving a long-established workplace takes away from the social atmosphere retirees were accustomed to and can lead to depression. The above suggestions are just some ways to counter that narrative and have a retirement that is satisfying once the finances are in order.

The information provided is for educational and informational purposes only and should not be construed as investment or financial advice. Individuals should consult with a licensed financial professional to determine strategies that best suit their personal situation. JOST is not affiliated with any government agency, including Social Security.