Personal Finance
What do people do after retirement? Is it possible to retire at an early age and still have a meaningful life?
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Some retirees end up going back to work because they are bored in retirement.
There are ways to find meaning as a retiree, including volunteering and helping family.
Be sure to define your goals for retirement, and confirm you have the funds to achieve them, before leaving work.
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For many people, work provides fulfillment. Around 51% of people report they are very satisfied with their job overall, according to Pew Research. An even higher number — upwards of 60% — indicate they are very satisfied with their relationship with their manager and co-workers.
Without work to keep them busy, sometimes people end up struggling to figure out what to do with their time or how to find meaning in their lives. This is especially true for those who retire early. In fact, as many as four in 10 retired seniors have un-retired, according to Resume Builder, and combatting boredom was the second most common reason for returning to work after higher-than-expected costs.
If you have already retired, or are thinking about retiring early, and are wondering if you can still live a happy and meaningful life once you no longer have your job, here are some suggestions for what you may want to do with your golden years.
Volunteering is one of the most common ways seniors find purpose after retiring.
In one Quora post where a site user asked what people do in retirement, numerous people mentioned volunteering. Some said the contributions that they made at local charities were rewarding, while another said they volunteered at a museum restoring old aircrafts so they were able to indulge a passion of theirs.
There are ample organizations that need volunteers, so whether you want to walk puppies at the shelter, tutor underprivileged kids, or act as a tour guide for local historical buildings, you should be able to find some way to give back while filling your days.
Travel is an obvious answer to what you should do to fill the time in retirement, and many people responding to the Quora post said they regularly travel around the world or at least around the country.
If you plan to travel, you’ll want to be sure you have a larger retirement nest egg saved up as it can be expensive to go and see the sights.
Of course, there are ways to travel on a budget including buying a used RV and staying at inexpensive national park campgrounds. The key is to watch your budget, though, and take advantage of senior discounts on accommodations if money is tighter than you’d like.
Of course, this option will work only if your children have kids and want childcare help, so if this is your retirement plan, make sure grandkids are in the cards first so you don’t cause family conflict by pressuring your kids to start a family before they are ready to do so.
These are just three of many ways you can try to find meaning in retirement. The key is to define what’s meaningful to you. Before leaving work, you’ll want to identify what you hope your days will look like and work with a financial advisor to make sure you have the funds to live out whatever dreams you have for your retirement.
If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention.
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