Originally Posted on ivyhesse.com

Your retirement period can be a time of joy or pain, it all depends on how you plan for it now when you are still actively working. Considering that this period can last upwards of 30+ years, it is very important to have an idea of how you want to spend that time so you can be prepared both financially, physically and emotionally. If you don’t take my word for it, check out how your Pension Advisors plan to spend theirs in this video by Enterprise Trustees.

5 Resources For Planning Your Retirement Time

Kick your retirement planning juices into action by checking out some resources below about how to plan for your time in retirement and ways you can spend that time.

1. Eight Things To Do Before You Retire

As you prepare to enter retirement, there are issues you should consider to help make your transition into retirement a successful one. We believe history has shown that these activities are best conducted with the participation of a spouse, partner or other family members, as retirement is often a significant point of change for the entire family. The checklist below can help you organize your activities and better prepare for that big day. read more at mysavingsatwork.com


In this post by Fidelity Investments, they recommend eight (8) issues that  you need to address prior to retirement and include:

  1. Retirement Expenses - Identify all potential expenditure during retirement, considering how your lifestyle may change during retirement
  2. Insurance Coverage - Consider the fact that some insurance coverage provided by your employer may not be available once you retire
  3. Medical Cover - Be sure of what is covered and what is not with the Standard Health Insurance that comes with Social Security and ensure that you've made provision for additional coverage
  4. Social Security Coverage - Check your expected benefits and claim procedures to ensure you start process on time
  5. Retirement Income Plan - Ensure that your retirement income projections adequately takes account of factors like; market movements, inflation, health costs, gifting and other estate goals, among others
  6. Pension Benefits - Ensure you track all your assets, including all your pensions accounts through various employers and consolidate them to have a better view of your total assets and manage income distributions from them
  7. Estate Plan - Review your wills, powers of attorney and beneficiaries for your estate to ensure they are still relevant to your current situation
  8. Emergency Fund Set Up - ensure you have additional funds as buffer to cater for unexpected expenses beyond your expected pension benefits and estimated expenditures

2. Create a Plan for a Meaningful Retirement

http://www.kiplinger.com/article/retirement/T037-C000-S004-devise-a-plan-for-your-life-as-a-retiree.htmlread more at kiplinger.com Some people enter retirement with a full-blown plan. Other new retirees struggle to fill a blank canvas. The key to a meaningful retirement is not just filling your time but crafting a portfolio of pursuits that are based on what's important to you, experts say. "Many times, work is what you do and not so much who you are," says Catherine Frank, executive director of the Osher Lifelong Learning Institute, which is affiliated with the University of North Carolina at Asheville. "Retirement is an opportunity to create a life that reflects more closely who you are."


This post provides some advice to help you decide what you will do with your time during retirement. It also has a free tool to help you  forecast your spending

3. Tips for Financially Preparing to Retire

The following tips will help you gather the information necessary to make timely and informed decisions about your retirement. Via thebalance.com



This post recommends 14 issues that you should deal with prior to retirement and in addition to some of what is recommended by Fidelity Investments, also adds that you should:

  1. Consider the costs of long-term care costs and insurance cover
  2. Consider whether you would still take up some work during retirement
  3. Start contributing to your retirement account as soon as possible and contribute as much income as possible
  4. Meet with your pension provider and investment advisors to let them help you craft the best plan and portfolio to maximise your retirement income
  5. Consider diversifying your portfolio investments

4. The Retirement Problem: What to Do With All That Time?

http://knowledge.wharton.upenn.edu/article/the-retirement-problem-what-will-you-do-with-all-that-time/“The questions people ask at earlier stages of life become more profound at these later stages,” he says. “Am I living the life I want to live? What is most important to me? Who is most important to me? Research indicates that those who are happiest in retirement tend to answer that question by “giving back” and discovering a sense of purpose. “The most successful people in retirement look to use their talents and passions to make a contribution,” he says. read more at knowledge.wharton.upenn.edu


This insightful post by Wharton University takes a look at some psychological challenges that emerges during retirement and notes that 'it's not all about the money'. It notes that retirement time is the time when people start asking such questions as; whether they are living the kind of life they want to live and what and who are the most important to them. It notes that from its research over the years, those who are happiest during this period are those that use that retirement time to 'give back'. Determining how you give back is what requires some work but you can start with knowing yourself and figuring out what matters to you.

5. How To Decide What To Do Next When You Retire

http://www.forbes.com/sites/nextavenue/2016/11/21/how-to-decide-what-to-do-next-when-you-retire/It's a huge question for new retirees and people nearing retirement: What will I do with myself?! "Part of what faced me when I admitted to myself that I was going to be retired was that there were so many choices and so much information," The primary thing is living the life you want to be living. You have a choice of what kind of things you want to spend your life on. So you need to know what your convictions are. Via forbes.com



This Forbes post features an interview with a retired Presbyterian Minister who embarked on the journey of determining what to do with her time during retirement and realised that the problem was not the lack of information about what to do, but rather, the abundance of it. She decided to make that process much easier for others by putting her findings together into the book How to Decide What to Do Next When You're RetiredThis book touches on such topics as how to:

  1. uncover your own personal meaning and values
  2. plan for each stage of retirement
  3. consider the potential obstacles of ageing
  4. identify your personal goals and directions
  5. create helpful habits
  6. plan balanced days and weeks
  7. recognise and appreciate your accomplishments
  8. build both consistency and flexibility into your planning

I hope you find these resources useful. I look forward to reading your thoughts and comments using the form below.

Images from forbes.com, upenn.edu; Images from forbes.com, upenn.edu, mysavingsatwork.com; Images from forbes.com, upenn.edu, mysavingsatwork.com, kiplinger.com; thebalance.com