Retirement Ready?

Ok, you’re ready. Aren’t you?

You’ve actually known the date for quite some time. Now the party is planned. They sent the invitations out. You have planned a big trip as soon as you retire. Oh, the planning you have done.

You know the amount of money your company pension pays out each month. You know the amount the Government pensions pay. You have worked really hard to pay down that mortgage. You’re financially ready, right? Right?

What else?

There are so many other things to worry about. Have you transferred the health insurance to a seniors plan? Check.

Have you let the bank know your auto-deposit checks won’t be coming in from your workplace? Did you discuss with the bank how you want to carry on banking? You know that you get a reduced rate on the banking fees as a senior … of course you need to ask for that.

Line of Credit. Whew, you did get that extra amount put on your limit last time they asked you. Now that you will be retired they may not offer any more increases. You don’t want to use the increase but it is nice to know you have it as a safeguard.

The financial issues are all very important things that must be done to ensure you have a smooth transition to your retirement.

But that is not the end of them.

Can you afford it?

This new lifestyle will take a little getting used to. No, I don’t mean not getting up and off to work each and every day. You probably will still wake each morning for the first while at the same time as usual but now you can sit with your coffee or tea and watch as everyone else hurries on their way to work.

You need to think about the things that you won’t need to buy now that you are retired. Lunches at work are not a thing now. Transit passes are now cheaper as you will buy the seniors’ pass. Also, you aren’t out and back each day of the week.

If you still drove to work, now you won’t have to buy the same amount of gas as usual. Your car insurance will go down when you retire … if you ask.

As we get older our appetite can diminish and now you can order off the senior section, and pay less.

You won’t need to be buying your work clothes any longer. Just buy what you need, that works for you now. Buy only what you like.

Vacations often have senior rates. Ask about them.

Want to exercise more, now you have the time? Go to the recreation center and ask for your senior rate. Most rec centers have interesting classes you can join as well.

Who are you and who do you want to be?

The first thing you need to do is spend time thinking about what you want to do now. If you haven’t done this already, this is the time.

The world is your oyster. You can find a hobby and indulge in it. Take your time and try out different classes and see where your interests lie. This may have changed. Don’t get locked into what you have always done.

One hobby I have been wanting to start is astrology. I bought my telescope second hand four years ago. I always need time to start something new so it has sat in the corner of my kitchen just waiting for me.

This year, due to COVID, we took a driving holiday to visit one of our sons and his wife in Winnipeg. While there, we visited his in-laws. His father in law has a big interest in astrology and so I brought my telescope with me and he taught me how to use it. I can’t wait to start when I get home.

He told me that sometimes the best times to see things are in the middle of the night. I don’t care as I can set the alarm for the middle of the night and then sleep in or have a nap in the next afternoon.

Are you ready to retire? Spend some time to think about this. How you want to spend the rest of your life. It’s a big world out there and you need to get your share.

Go for it!