What Not to Do in Retirement - 5 Things to Avoid in Later Life - Rest Less (2024)

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Mahalia Connor March 14, 2023

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With significantly more free time for you to decide how to spend it, it’s important that you keep your wellbeing in mind when deciding what commitments to make and how to fill that time.

This includes keeping in mind the physical activities that you participate in, as well as dedicating your mental or emotional capacity to others.

We reached out to our Rest Less Events community for some top tips on how youshouldn’tspend your retirement, and came up with 5 things to avoid during your retirement (and what to do with it instead).

The most popular answer by far was:

1. “Do not sit inside all day doing nothing”

What Not to Do in Retirement - 5 Things to Avoid in Later Life - Rest Less (1)

Some suggestions of other ways to spend your newfound spare time included:

  • Get Outside– many retired people spend time inallotment gardens. You can apply for an allotment via your local council, however there are also many public or shared plots run by local groups or charities, such as one owned byAge UK Herefordshire & Worcestershire.
  • Join Local Clubs or Special Interest Groups– read our beginner’s guidehere
  • Travel– whether it be solo travel,cruising, or asafari adventure, there are plenty of tour companies specialising in travel for retirees. Many retirees choose to take aGolden Gap Year
  • Adopt a Pet– you may find you desire a new type of companionship in your retirement. This often comes in the form of a pet. Older pets often don’t get adopted by families, and also may not need as much physical exercise. Speak to your local animal rehoming centre for advice on how you can give a pet a new home.
  • Volunteer– Giving back to the community and making a difference in the lives of others can be so fulfilling. There’s a lot to consider when deciding whether to commit yourself to volunteering, and how much time you want to dedicate to the cause, so read our guide onVolunteering in Retirementto see if you think it could work for you.

“Volunteering has been proven to promote a positive mental attitude – essential in retirement.” – Pat

However, it is important to find the right balance for you, which could be a very different pace to other retired people you know. Patricia made a very important point, “One of the best things about being retired is the freedom to do what you want when you want. Make sure your volunteering doesn’t stop you doing that”.

2. “Don't run around like a headless chicken. Don't lose your identity.”

Many people who are at the stage in their life when they are thinking of retirement, or have recently retired are anxious of losing a large part of their indentity which developed through their careers – their work identity. There are plenty of resouces online which discuss this idea, for example, this Forbes article titled ‘Grieving The Loss Of A Work Identity‘ and this podcast from Harvard Business Review, titled‘How Retirement Changes Your Identity’.

It is important to look after yourwellbeing in retirement, both physically and emotionally. That includes setting clear boundaries with anything you have signed up to help with or participate in, as Micheline said, “Don’t over commit – or life will be one mad rush again, governed by the clock”. This includes setting boundaries and learning to say no, even to family. Pat warns, “Don’t let your children rely on you being available when they want you, soon you will have no time for yourself.”

3. “Never think you are too old to take up a new challenge!”

  • “Don’t stop trying new things.”– Patricia
  • Learn a new skill– There are plenty of free courses for over 60s, read our essential guidehere.
  • Re-enter education– this could be studying for an A-Level course, a university degree, or the many other different types of qualifications out there, learning has no age limit! Don’t want to become a student again, what aboutbecoming a teacher later in life?

Priscilla shared that she is now studying for a Level 3 in Art and Design. “After supporting others in Education for years I’m now the one doing the learning and loving it.”

Jenefer also directed us towards a free online course by the University of Tasmania calledUnderstanding Dementia (MOOC). “I found it so informative when befriending a 90 year old lady. And who knows, it may even help me to understand what’s happening to me in the future.”

4. “Don’t procrastinate…do it now!”

A lot of people urged others to do everything they wanted while they could. As Eila wrote, “Don’t put it off. Do it whilst you can. You never know what’s round the corner”, and pointed to the Covid-19 pandemic as a good example of why you should grab life with both hands while nothing is stopping you!

Some tips to avoid procrastinating in retirement include:

  • Filling your diary with plans – if you physically write it down, you are more likely to commit to something rather than just saying it or thinking it.
  • Be open-minded and flexible – you may think that this would counter the point above, however if an amazing opportunity comes your way and you can be flexible with your plans, take that opportunity while you can! It might not be available again.
  • Set yourself small goals – is there something you always wanted to learn? A new skill you wanted to try? Now that you are retired you can set your own goals!

5. “Don't forget the reason you saved for retirement”

If you are fortunate enough to have retired financially comfortably, make the most of it! Jane told us, “I had saved all my life for retirement but still had to give myself permission to spend it”.

This short article from Forbestalks about how many people are torn between leaving a legacy for their children or grandchildren, and spending the money for themselves. By creating a plan, you can fulfill your wish to leave a legacy, but also enjoy your retirement by giving yourself permission to spend your money.

Final thoughts to remember

“I’ve been retired 20 years and they have been wonderful years.”– Sue

Most importantly

“Find your own rhythm!”– Linda

Mahalia Connor

Mahalia is Head of Community Engagement at Rest Less Events so you will often find her chatting away to community members! She loves collaborating with members of Rest Less Events to come up with new ways to engage the community that create truly authentic and special moments of connection. When she's not busy dreaming up new ideas for Rest Less, you can find Mahalia getting creative at home with all sorts of whimsical art projects!

* Links with an * by them are affiliate links which help Rest Less stay free to use as they can result in a payment or benefit to us. You can read more on how we make money here.

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What Not to Do in Retirement - 5 Things to Avoid in Later Life - Rest Less (2024)

FAQs

What Not to Do in Retirement - 5 Things to Avoid in Later Life - Rest Less? ›

Failing to Plan

The biggest single error mistake may be pretending retirement won't ever arrive when, for a large majority of people, it does. About 67.8% of men born in 1980 will live to age 65, according to the Social Security Administration. For women, the figure is 80.9%.

What is the biggest mistake most people make in regards to retirement? ›

Failing to Plan

The biggest single error mistake may be pretending retirement won't ever arrive when, for a large majority of people, it does. About 67.8% of men born in 1980 will live to age 65, according to the Social Security Administration. For women, the figure is 80.9%.

What not to do after retirement? ›

The top ten financial mistakes most people make after retirement are:
  • 1) Not Changing Lifestyle After Retirement. ...
  • 2) Failing to Move to More Conservative Investments. ...
  • 3) Applying for Social Security Too Early. ...
  • 4) Spending Too Much Money Too Soon. ...
  • 5) Failure To Be Aware Of Frauds and Scams. ...
  • 6) Cashing Out Pension Too Soon.

What do people miss the most when they retire? ›

Instead, they miss the people they worked with. Anecdotal evidence from the study participants showed they missed the connections and friendships with coworkers. Others found it hard to stay in touch after retirement.

What do you spend less on in retirement? ›

What Are Realistic Ways Retirees Can Spend Less? If there's a large gap between your regular retirement income and your regular spending in retirement, you'll need to look at the big spending targets that you might be able to reduce, such as housing, transportation, food and contributions.

What is the #1 regret of retirees? ›

Some of the biggest retirement regrets include: A vague financial plan. No retirement goals. Counting on long-term employment.

What is the biggest retirement regret among seniors? ›

Retirees who were less confident about their financial situations say not saving was a major regret. Other savings regrets included not making the most of their 401(k) plan, not enrolling in the plan early enough, and not saving the maximum amount allowed by their plan.

What is the 3 rule in retirement? ›

The 3% rule in retirement says you can withdraw 3% of your retirement savings a year and avoid running out of money. Historically, retirement planners recommended withdrawing 4% per year (the 4% rule). However, 3% is now considered a better target due to inflation, lower portfolio yields, and longer lifespans.

How do you turn your life around after you've retired? ›

Following these eight tips might help you adjust to retirement better so you can feel fulfilled and happy during this chapter of your life.
  1. Expect to Go Through Stages of Emotions. ...
  2. Structure Your Days. ...
  3. Set Small Goals. ...
  4. Grow Your Friendships. ...
  5. Consider an "Encore" Job. ...
  6. Create a New Budget. ...
  7. Schedule Volunteer Shifts.
Feb 26, 2024

How to enjoy life after retirement? ›

Be proactive about how to enjoy life after retirement with these tips for living your best life:
  1. Make Your Health a Priority. ...
  2. Create a Daily Routine. ...
  3. Focus on the Present. ...
  4. Identify What Gives Your Life Meaning. ...
  5. Embrace Opportunities to Learn. ...
  6. Establish Goals. ...
  7. Make Friends. ...
  8. Take Up a New Hobby (or Revisit an Old One)

What is the average lifespan after retirement? ›

According to their table, for instance, the average remaining lifespan for a 65-year-old woman is 19.66 years, reaching 84.66 years old in total. The remaining lifespan for a 65-year-old man is 16.94 years, reaching 81.94 years in total.

What is the happiest age to retire? ›

When asked when they plan to retire, most people say between 65 and 67. But according to a Gallup survey the average age that people actually retire is 61.

What does the average retired person do all day? ›

The study showed that those in retirement spent less time on things like working, educational activities, and caring for others like their children. They spent more time on things like personal care, eating, household activities, shopping, leisure, civic activities and talking on the phone.

What is the biggest expense for most retirees? ›

Housing. Housing—which includes mortgage, rent, property tax, insurance, maintenance and repair costs—is the largest expense for retirees.

What is the 7 rule for retirement? ›

Understanding the 7% Rule for Retirement

Let's illustrate this with a simple example: if you have $100,000 in your retirement savings, under the 7% rule, you would withdraw $7,000 each year.

What is the $1000 a month rule for retirement? ›

One example is the $1,000/month rule. Created by Wes Moss, a Certified Financial Planner, this strategy helps individuals visualize how much savings they should have in retirement. According to Moss, you should plan to have $240,000 saved for every $1,000 of disposable income in retirement.

What is the #1 reported mistake related to planning for retirement? ›

Answer: Underestimating the impact of inflation. Underestimating how long you will live.

What is the number one mistake with social security? ›

Claiming too early

This may be the single biggest issue impacting Americans because Social Security allows people to begin collecting their benefits when they turn 62, or about five years before the full retirement age for most people.

What is the greatest risk that most people will face in retirement? ›

Longevity risk

The Society of Actuaries estimates that a couple both reaching age 65 have a 50% chance that one surviving spouse will live until age 93 (25% chance of one surviving spouse living until age 98). The biggest threat retirees face is outliving their savings.

What is a common mistake people tend to make in retirement planning? ›

Failing to save enough for retirement is a common mistake,” Callahan says. See what retirement accounts are available to you, such as a 401(k), IRA, Roth IRA or other employer-sponsored plan.

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