Most retirement planning isn’t about money: The Ultimate Senior Retirement Guide

We recall that the focus of our initial retirement worries – in the years and months before taking the big step – were related to money. We were going to be living on less money, so would that mean having to cut back on our lifestyle?

Pauline Winslow’s The Ultimate Senior Retirement Guide is a great resource for any among us nearing retirement. This well-written, warm walkthrough makes it clear that living on less, perhaps a fixed income, is only one of many important facets of retired life.

“Retirement,” she begins “is not just an end but a beginning – a chance to rediscover old passions, cultivate new interests, and strengthen connections in this digital age.” It’s normal, she points out, for the newly retired to feel anxious as they step away from their careers; she calls it a mixture of “excitement tinged with uncertainty.”

Life after work is “a shift that many find daunting, yet it’s also a profound opportunity to rediscover yourself and redefine what makes you feel fulfilled,” she writes.

After all, up until now, work, with its deadlines, meetings, and other challenges pre-defined your day’s agenda. “If there’s one thing that often takes a backseat during our working years, it’s the luxury of cultivating a daily routine that genuinely aligns with our joys and rhythms. Retirement opens up this unique space, a blank canvas if you will, where the structure of your day can be painted to suit your deepest desires and needs. It’s not just about filling time, it’s about enriching your life each day,” she explains.

You still may need to battle the “retirement blues,” she warns.

“The shift from a structured work life to the expansive retirement days can sometimes bring about an unexpected guest: the retirement blues. This emotional response can manifest as feelings of uselessness, persistent sadness, or even anxiety about what lies ahead… identifying these signs in yourself or others is the first step towards reclaiming joy and satisfaction in retirement,” she notes.

In a chapter exploring the importance of “physical wellness” in retirement, she stresses that your efforts at maintaining fitness must adapt to fit “your body’s current state… it’s about understanding and embracing your unique physical narrative, which includes those quirks brought on by years of living and moving.”

Those who enjoyed “heavy lifting or intense aerobic workouts” in the past might do better now to focus on “low-impact exercises” like swimming, tai chi, and yoga. Consider balance-boosting activities, since “standing on one leg or walking heel-to-toe can significantly improve your balance,” she adds.

She writes as well about the need to adapt your diet to your current health situation. Even those of us dealing with “health conditions like diabetes, hypertension or heart disease” can, with “thoughtful adjustments… still enjoy a rich and varied diet.”

You need to keep your brain in fine form as well, she advises. History buffs, she writes, might enjoy trivia games, lovers of language may enjoy word searches and crosswords. “The key is to find games you enjoy because the more you enjoy the activity, the more likely you will stick with it regularly,” she points out. Adding friends can make it a social event: “trivia nights, playing strategy games like chess or bridge, or solving puzzles together” can “enhance your social bonds while sharpening everyone’s cognitive skills.”

A later chapter looks at handling grief later in life.

Community support – “people who understand and share the unique challenges of grieving in later life” can help, as can “engagement in therapeutic activities” such as writing, art, or attending or planning memorial events.

Many retirees will find themselves feeling very alone after the loss of a partner. There’s a silver lining to solitude, which she describes as “the perfect backdrop for engaging in activities that nurture your soul and spark your creativity.” Activities such as “painting, writing, gardening, or cooking special meals for yourself” will help you build “self-reliance and confidence in retirement.”

Winslow does spend some time on the financial side of things.

“Creating a sustainable budget on a fixed income is much like planning a well-balanced diet — it should be nutritious enough to maintain good health (in this case, financial health) and flexible enough to allow for the occasional treat,” she suggests.

Start by listing your fixed expenses – housing, utilities and insurance – and then factor it regular expenses like transportation and food. “What’s left can be allocated to discretionary spending – those little pleasures that brighten your day,” she notes.

Tweak your budget often and consider building an emergency fund, she suggests.

If you are living off investment income, “bonds, fixed annuities and dividend-paying stocks are three pillars of low-risk investment strategies that can offer you peace of mind and financial stability,” she writes. Converting some of your savings to an annuity “provides a guaranteed income… this can be particularly appealing if you’re looking for predictable income streams.”

A later chapter underscores the importance volunteering can have, offering “a pathway to stay socially active and mentally engaged, all while contributing to the betterment of your community.”

She writes about the importance of staying current with technology – and knowing its pros and cons – as a way to keep in touch, especially with your grandchildren.

In conclusion, Winslow urges readers to “step into… retirement with courage and an open heart. See this not as a farewell to your working years but as a hello to freedom and opportunities that were once dreams.”

This great book is a must-read, especially for pre-retirees.

If you’re among the lucky few who have access to a retirement program at work, be sure to sign up and contribute to the max.

If not, the Saskatchewan Pension Plan is open to both individuals and groups. You can join yourself, or if you are an employer, you can offer SPP as your company pension plan.

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