3 ways to love your life now and into retirement
Written by Glen James
Host of the Retire Right & money money money (formerly my millennial money) podcasts & author of The Quick-Start Guide to Investing.
In our latest Facebook group chat, we asked: would you prefer to retire sooner and keep things simple, or work a bit longer for more luxuries? Most of the community leant towards retiring earlier and enjoying a simpler life. That got us thinking—how can we make the most of our time right now, no matter our age? What does ‘simple’ look like? Here are 3 simple ways to start living a more fulfilling life today, without breaking the bank:
#1 share food with friends
As we get older it’s common for our social circles to get smaller, often narrowing to our partner, kids, maybe close friends and neighbours. It’s important to continually work on building your social networks, even if it feels difficult. Spending time with acquaintances, not even necessarily close friends, can improve your health dramatically and help prevent feelings of loneliness. What better way to socialise than to eat and drink?!
Here are some ideas to get you started: invite a few friends or neighbours over for a potluck dinner where everyone brings a dish. Give your grandkids the challenge of bringing a dish they’ve cooked themselves! This not only cuts down on costs but also creates an opportunity for meaningful conversations and connection without the need for a fancy setting. If you’ve got a few dollars to spend and you’d prefer not to have to do much prep, meet your friends for coffee at your favourite cafe, or enjoy dinner at your favourite restaurant or club together. (On the note of clubs: many clubs run weekly meat raffles and Christmas ham raffles—get involved!) These kinds of rituals, when done regularly, impact your sense of belonging and joy. Get out there and enjoy some food and drink, however you can!
#2 practice the art of gratitude
It’s well-known, thanks to much research, that practising gratitude can greatly impact your sense of happiness. It’s also a very quick exercise! You don't have to journal for an entire hour each day (though feel free to if you enjoy it), but starting with a few simple gratitude prompts to reflect on while sipping your morning coffee can be an easy way to begin.
Let’s try this together! Use these prompts below to take a moment of gratitude about where you are right now:
‘I’m grateful for these three things I see’ (name 3 things you see)
‘I’m grateful for these three things in my home’ (name 3 things)
‘I’m grateful for these three friends’ (name 3 people)
#3 move your body
Moving your body is one of the most beneficial activities you can embrace, especially as you enjoy your retirement years. Engaging in simple physical activities, like taking a gentle walk in the park, gardening, or even stretching at home, can have profound effects on your overall well-being. Regular movement helps maintain flexibility, balance, and strength, making daily tasks easier and more enjoyable. Plus, it can uplift your mood and boost your energy levels, contributing to a more vibrant and fulfilling retirement. Remember, staying active doesn't have to be strenuous; even small, consistent movements can make a big difference in your health and happiness.
If you’re unsure about where to start, check out YouTube on your phone or computer–there are many creators on that platform that provide free beginner workouts of all kinds—Pilates, yoga, stretching, and more. You don’t have to join a gym to enjoy exercise, you can do it in the comfort of your own home.
No matter where you are on your retirement journey, it's never too early or too late to start enjoying the simple pleasures in life. These small, meaningful actions can add richness to your days and help you make the most of your time. Remember, it's the moments we create and cherish that truly define a fulfilling life.
Community question
Wayne asks: I’m about to retire and have contacted my super fund to change to a pension account. They suggested keeping some funds in an accumulation account as well as the pension account. They said I might want to downsize my home in the future or want to go back to work again in the future. Neither of these options interest me. Is there any other reason to do this ?
Glen: Hi Wayne, There wouldn’t be any other real reason to do this. It may be a feature of the fund that their product rules say there has to be an active accumulation account linked or the fund has an in-house ‘best practice’ to do this. One other reason could be to continue to fund life insurance within the account. It’s important to note that in the future if you do need to contribute money to an accumulation account, you can always open a new account. But in answer to your question, it doesn’t sound like you have the need for an accumulation account.
