Five great tips for your first week of retirement

So, you’ve had your farewell party, and your ex-colleagues have sent you on your merry way. Come Monday morning, you shouldn’t be asking yourself, “What should I do now?” but rather an enthusiastic, “Let’s get started!”. While you should ideally have a good sense of your wants and needs before retiring, you’re not alone if you hadn’t planned that far ahead.

Whether you’re still navigating the planning stage or scrambling to find your footing in your first week of retirement, here are five great tips to dive into your first week of retirement¹.

1. Reward Yourself

While you’ll surely be showered with gifts during your retirement party or sendoff, don’t forget to reward yourself as well. There are many options to choose from, depending on your retirement goals.

2. Understand Your Situation

Adapting to your new life as someone outside work has its unique rhythm and timing. To avoid feeling shell-shocked, it’s important to set realistic expectations and acknowledge the vast differences between your pre- and post-retirement life.

To give you a more concrete idea of what you’ll go through, here are the five stages of retirement you might encounter in the first week and beyond:

1. Pre-retirement: While still working, you’re actively planning your retirement future or imagining what it feels like to be free of work. As the big day approaches, expect loved ones and colleagues to excitedly discuss your impending departure.
2. Honeymoon: Your last days at work and the initial euphoria of retirement are filled with celebratory showers, and fun activities provided to you by your loved ones, colleagues, and even your boss!
3. Disenchantment: The emotional high eventually fades, and reality sets in. Your body craves the structure of your former work routine, leading to awkward and weird moments.
4. Reorientation: This is where you rediscover and redefine yourself in this new chapter. Remind yourself that the work grind is over, and it’s time to embrace new possibilities. Experiment with hobbies. Also, incorporate different habits and set fresh goals that ignite your passion or combat boredom.
5. New retirement: Here, you’ve found your footing and established a comfortable new identity. Those occasional work-related habits might still surface, but instead of feeling strange, they’ll likely evoke a chuckle or two, becoming humorous reminders of your past life.

Knowing these five phases can ease the inevitable feeling of emptiness and confusion as you redefine your routine and embrace the unknown. Stay flexible, trust your adaptability, and savour the journey of crafting your fulfilling post-retirement life.

3. Start A Healthy Routine

Start a healthy routine and get right into it. While celebrating and settling in, weave healthy habits into your days. Nourish your body with good food, embrace the joy of movement, and prioritise your mental well-being.

The first thing you need to do is establish a morning routine. It’s a must for anyone transitioning into retirement as it helps fend off bad habits, eradicates potential time-wasting, positions you for success, primes you for planned activities and enhances your mental well-being. “Win the morning, win the day,” as they say! So, craft a fruitful morning that sets you up for a positive mindset throughout. Take your time, experiment, and find what works best for you.

4. Make A Concrete Retirement Plan

Beyond crafting and following a rock-solid healthy routine, your first week of retirement is prime time for making concrete plans and setting goals. A pre-planned roadmap is your anchor against the sea of freedom you’ll be in. Without a plan, it’s easy to drift into aimlessness and retirement boredom.

A retirement plan is about actively shaping your future and should consider managing your money, future-proofing your life, reconnecting with others, including your elders, and rediscovering your identity and structure for freedom. This could involve hobbies, learning new skills, or simply creating daily rituals that bring you joy. If you’re stuck, here’s 101 Ideas For Your Retirement Bucket List.

Having a concrete direction and clear goals equips you to navigate retirement with confidence. So, give yourself a purpose, set achievable milestones, and watch your retirement blossom into a fulfilling journey.

5. Take it easy, unwind, and embrace the quiet moments.

Remember, retirement is your well-deserved vacation. While a whole world of possibilities are waiting to be explored, there’s no need to rush. You’ve earned your retirement! No office calls at midnight, no Monday morning blues, just the boundless freedom to do what brings you joy.

Enjoy your first week and the coming years, but don’t forget the other important stuff. While there can be a lot of work to do, the difference now is that it’s for yourself, not for a paycheck or an unruly boss. It’s your retirement to enjoy!

The information contained in this article is general information only. It is not intended to be a recommendation, offer, advice or invitation to purchase, sell or otherwise deal in securities or other investments. Before making any decision in respect to a financial product, you should seek advice from an appropriately qualified professional.  We believe that the information contained in this document is accurate. However, we are not specifically licensed to provide tax or legal advice and any information that may relate to you should be confirmed with your tax or legal adviser.

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