Practical advice for pre-retirees - from those already retired
This week, in The Epic Retirement Club (Facebook Group) there was a wonderful discussion led by our epic retirees. They were offering open and honest advice to our pre-retirees about the things they wish they’d known and acted on before they retired. There was some really terrific advice shared on the post, which was packed with long, well-thought out responses. In fact, there was so much good stuff that I thought I should turn it into a long, valuable article so it doesn’t get lost in the annals of social media. It almost makes me redundant - knowing there’s such good advice out there in our community! I’m delighted to see it matches up to lots of the things in my book too. So, here’s 20 of the best pieces of advice. Enjoy. Leave your own as comments on the newsletter too.
Think about what you’ll do once the honeymoon is over
Before retirement (I retired at 56), I thought it was a maths problem and therefore all my pre retirement planning was financial. I had a great financial plan but did not have a ‘what am I going to do plan’. After the initial honeymoon period of around 12 months, which was awesome, I fell into a bit of a heap. Even travel was not quite so enjoyable as I had not earned the holiday, unlike taking a break from work. I eventually found a great little casual part time job where I am connected with people doing something I really enjoy. And they are OK with me going away for long periods at a time. I wish I had thought more about what life would be like after the first 12 months of retirement, planned in advance, and set up a part time role. I did not appreciate that for me, working is actually an important part of a well rounded enjoyable retirement! Advice from Barry Wyatt
You retire from WORK not LIFE.
Don't be afraid to try new things even though they may be out of your comfort zone. You may surprise yourself. Advice from Robert Silvestrini
Be aware - it’s hard to get or up the balance on a credit card once you aren’t working anymore
Increase your credit card amount as it’s impossible to do when self funded living off your super., get a interest free card to buy furniture etc - just in case. Advice from Kathryn Davis
Don’t put off the good stuff, you might not stay healthy forever
Travel lots as you never know what’s around the corner health wise, enjoy new things/people. Advice from Jean Shephard
Think about putting some structure into your days and weeks
Have an idea of how you will structure your time. From having a few regular weekly activities to having travel plans to look forward to. Advice from Jan Smith
Be proactive about keeping in touch with people from your working life
If you work in a large organisation, get the numbers of the people you respect and like the most. Stay in touch with the real people you like being around. Advice from Brendan Winduss
Be kind to each other in adjusting to retirement.
You'll most likely spend more time in daily life with your partner. Do fun things together and also maintain your own activities and friendships. Grow together and also individually as a person. Advice from Jan Smith
Have a complete health check up.
Your body is important. Advice from Lyndal Meredith
Get money into super every which way that you can
Get as much money into super as possible as it’s all tax free coming out. Advice from Robert Relph
Use your leave before you retire, rather than getting it paid out
Take all annual/long service lease as leave - super is paid on it. Super is NOT paid on lump sum payouts. Advice from Scott Malpass
Declutter
Declutter everything - the house, your finances, your super, your insurances … Advice from Lyndal Meredith
Replace things that need replacing before you retire
My brother retired at 60 but wished he had replaced things in the house. Like oven, carpets, fridge, paint inside etc. before he finished work. They cost $$$ after retirement. Advice from Astrid Thompson
Be lifestyle-ready as well as financially ready
By that I mean give serious thought to how you will fill your days when you no longer have work and you’ve been on the big trip. What will get you up in the morning and genuinely excited about the day ahead? What are your passions? Dig deep - this is the chance to find out who you are outside of work and live the real you. Have a go at some of the things you identify before you finish work to help with the transition from work to your retired life. Advice from Giulio Cerasani
Celebrate
Enjoy the fact you made it to retirement age as not all do. And, take up activities you enjoy that also keep you fit active and connected to society and try not to over think everything. Advice from Bob Dyer
Make sure you have a purpose
Retirement without a purpose has been found to reduce your life expectancy. Advice from Steve Weir
Feel the tension dissipate
Learn to stand up straight and lose the tension in your neck. shoulders, and upper back from years of desk work. Developing a simple routine for flexibility and exercise while still working will make it more likely you will succeed and keep it up, or expand it in retirement. "A flexible spine is the key to eternal youth." If you think you are standing upright already, find a wall or doorway with no floor moldings and try to stand with your heels, butt, shoulders, and back of your head against the wall, looking straight ahead. Advice from Pat Entwisle
Let go of your working ego
To younger working people your work experience quickly becomes irrelevant, be ready to just let this go. Your working life becomes a conversation with other retirees. Advice from Geoff Smith
Get advice and have a financial plan
See a financial advisor and formulate a plan, without that there will inevitably be financial stress. When you are working out your budget make sure you allow for whatever travel and activities you want to enjoy in your retirement. Advice from Andy Will
Enjoy the small things and resist getting FOMO
You are not missing out because your priorities are different to other people’s and remember, not every moment needs to be productive - find joy in small things as it’s these smaller things that often have the biggest impacts. Advice from Glenda Rosie
Volunteer and make a difference; and keep learning
It is not too late to study and, it is a great time to get involved in political activism Advice from Eva Meland
You can read more on the post in The Epic Retirement Club here.
