How to retire well

Tips for getting the most out of retirement, part one of our series

If, like many of my clients, you are on the verge of retirement, you may be wondering what life will be like on the other side. You have worked hard to get your finances in order and can finally enjoy the down time that a full working week did not afford. You may also be looking forward to being unencumbered by the restrictions of work commitments on your ability to enjoy annual leave freely. Retirement brings a wealth of opportunities and the possibility of exciting new ventures.

There may also be some concerns too, and this is completely natural. What will I do with all that spare time? What if I am lonely or bored? For many of us, work has been a way to keep our minds sharp and our social lives active. Will that change now that you are retiring? 

I have had many of these conversations over the years with a variety of different people, all of them feeling a mixture of apprehension and expectation. One correlation I have noticed in those who found retirement to be a blessing, are those who chose to plan ahead.

These are my top tips for retiring well, gratefully learned over the years from my many clients.

  • Make sure your finances are in order so that you can enjoy your new found time without feeling the burden of financial constraints. What are your retirement goals and how will you fund them? What are your expenses likely to be?

  • Make a plan for investments that will help your pension pot to grow to its maximum potential. Talking to a wealth management advisor is a great first step if you haven't already.

  • Practice self-care. Any sort of adjustment to routine can take its toll mentally. It's important to learn to recognise when you are feeling low or unmotivated. As with all stages of life there will be ebbs and flows, and retirement is no different. Self-care can be as simple as picking up the phone to a friend or loved one when you are feeling down, or making regular plans to engage socially with others. 

  • Keeping physically and mentally active. Now is the time to take up all those hobbies that you previously had no time to participate in. If you want to climb Pen y Fan but never had the opportunity, you absolutely can now. Retirement creates the perfect window of opportunity to build up fitness and realise your long held, but previously neglected, goals. The sky really is the limit if you put the time in. 

  • Keeping mentally alert is equally important too. It can be quite a change of pace, especially if you are transitioning from full time work to full retirement. Many people chose to study during retirement, particularly those who felt that they did not study in their preferred field the first time round.

  • Get involved in the community. Your local community is a great place to start in making social connections, and also provides the opportunity to volunteer and support others. As many charities rely on volunteers in order to function, this is one way that you may want to get involved. If you have a fondness for animals, a rescue centre or animal charity would welcome an extra pair of hands. Find something that you are passionate about and reach out to the organisers to get started.

  • Re-define your boundaries, and excel them. When you are out of your comfort zone, your brain creates new connections between neurons. You’re not only keeping mentally active at this point, but upskilling your mind. Neuroplasticity is the learning phenomena of how our brains function. By continually challenging yourself to try new things, you are strengthening your mental wellbeing. Your brain will continue to change even as you get older. Improving your cognitive function during retirement will help to ensure that you are healthy, happy and enjoying the best stage of your life.


If you would like to talk to a wealth manager about our retirement planning strategies, get in touch and a member of the IFAMAX team will get back to you.


Ashton Chritchlow