Why Hobbies in Retirement Should be Part of Your Financial Plan

You’ve been preparing for retirement the majority of your life. Planning for your goals and dreams and longing for the day where you can experience the joys of life without a job or business to worry about. Happiness in retirement depends on the person. For some it’s living the rest of their days on a golf course and for others it’s traveling the world. You might be planning for living expenses in retirement but it’s also important to plan for those experiences and hobbies that are going to bring you joy and happiness in the last phase of your life. If you’re working with a financial planner, it may be in your best interest to consider more than just your cost of living.

Memberships

There are plenty of memberships and groups to join in retirement. Maybe you want a club house membership so you can golf everyday. It’s also important to think about fitness and health. Joining a YMCA is a good way to stay social and active. Brain function is also something to consider. College classes aren’t just for youngsters and can help your mind stay sharp. 

Traveling

Seeing parts of the world that you’ve never experienced before is exhilarating. And as exhilarating as it might be, it can also be expensive. Deciding where you want to travel and what you want to experience before retirement will help your retirement nest egg last. Last second, spur of the moment trips are fun for some, but successful financial planning is goal-focused and plan driven. It never hurts to be prepared and it might help you get organized and ready for retirement with a traveling plan.

Family

Modern day retirees often times have family spread all over the United States and even the world. Grand-babies are born, weddings, and sometimes the unfortunate case of funerals present themselves. Putting aside funds for these unexpected family milestones will help prepare you for retirement. Questions like “what’s my number,” and “do I have enough,” can more easily be answered when you’ve planned for even the unexpected.

Retirement should be fun! You’ve worked hard all of your life and you deserve to travel, golf, play tennis, swim, focus on health and love, and spend your money however you see fit. Money definitely can’t buy you happiness but having it can provide you with the experiences, hobbies, and connections to friends and family that do bring you joy.

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