Mental health studies have shown that those who do nothing after retirement increase their chances of suffering from clinical depression by 40%. That’s why many retirees are choosing to “unretire.” This doesn’t necessarily mean going back to work full-time. Instead, it’s about filling your day with activities that bring you satisfaction. But to unretire successfully, you need to plan ahead, perhaps even before you retire. Here are five tips to get you started.
- Know what you will retire to. Create a vision of what you want your life to be like and what will bring you joy and fulfillment.
- If you want or need to work part-time, don’t be afraid to say "no" to opportunities. If you don’t want to work for someone else, consider freelancing or starting your own business.
- Maintain an ongoing schedule filled with appointments and activities over the next two to four weeks to encourage you to keep busy. But don’t overfill it.
- Find ways to “declutter” your life by trying to spend as much time as you can doing the things you love.
- Fully understand your financial picture. Knowing how much income you’ll receive from Social Security, pensions and retirement accounts and what your living expenses will be will help you determine whether you’ll be able to live the way you want to during retirement. If you're not sure, consider meeting with a fee-only financial advisor.