3 Non-Financial Factors That Make a Better Retirement

November 28, 2013

retirementWhen we think of retirement, we often think of money. It’s important to save enough now, and invest it prudently, if you want to be able to live the life you want later.

However, it’s important not to get so caught up in the financial aspects of retirement that you forget about other aspects of retirement. If you want a truly successful retirement, there are some non-financial things to keep in mind:

1. Good Health

What good is having a huge nest egg if you don’t have the health to enjoy it? You won’t enjoy traveling the world, playing with your grandchildren, or even just taking a well-deserved rest at home nearly as much if you have poor health. While you can’t control some things, like an unexpected illness or injury, it’s possible to reduce the impacts of poor health in a number of cases.

Physical activity, a healthy diet, and a good mental attitude can go a long way toward better health in retirement. Take care of yourself now, and you will have a more satisfying retirement later.

2. Something To Do

In theory, retirement sounds great. You can sit all day, doing nothing. No reason to toil for your survival. However, recent studies indicate that if you don’t have something to occupy you, there is a chance that you will suffer in terms of physical and mental health.

While doing nothing seems like it might be fun for a week or two, pretty soon you are likely to go stir-crazy. Think about what you want to do with your time during retirement. Develop a hobby, volunteer, travel, or even go back to school. You could even get a part-time job doing something you love. The key is to feel as though you have a purpose for your life. Without one, things get pretty boring fairly quickly.

3. Good Company

Don’t forget to include people in your life. Some people like to have a significant other that they can turn to for companionship. Others are happy to spend time with friends on occasion. In some cases, it’s enough to volunteer or get a part-time job and find social interaction that way.

The way you connect to others matters to your mental and emotional health. Having people to do things with, and hang out with on occasion, is important. You can stay active mentally, and you can avoid some of the problems that come with loneliness.

Bottom Line

A successful and fulfilling retirement isn’t just about having a huge nest egg. You also need to be able to enjoy the fruits of your labor. Being able to have a purpose in life, as well as having good company and good health, can ensure that you really do enjoy your years of retirement. Without good reasons to keep moving forward, you are unlikely to find yourself in a position to fully appreciate the wealth you have amassed.

What do you think? What is your ideal retirement? What are some of the non-financial things that would make your retirement perfect? Leave a comment!


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Miranda writes about personal finance almost every day. An experienced freelance writer, she's covered your money online and in print from every angle and is always looking for new ones.

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