So, you’re confident that you’re financially prepared for the life change that comes with retiring. Great stuff.

And yet, if you fail to consider the emotional change, the transition to retirement may be harder than you might imagine.
 
So, here are five practical tips to help you prepare for a happy and emotionally fulfilling retirement.
 
1. Know how you want to spend your time

If you’ve been working full-time, you'll likely find yourself with a huge amount of free time.
 
This may sound exciting, but can also prove quite daunting.

Before you finish work, plan for how you will fill all the hours that used to be taken up with work.
 
If you’re starting from scratch, ask:

• What do I enjoy that I'd love to spend more time doing
• What dreams did I used to have?

Take some time to ponder and scribble down anything that comes to mind. Then, use your notes to create a bucket list of all the things you want to do, places you'd like to go, and projects you'd like to achieve.

If you have a partner, work on this together.
 
While it’s always good to do your own thing, it’s wise to avoid going too far in pursuing different ideas for how you want to spend your future.

2. Make retiring a process

Where once you had to set a retirement date and stop work entirely, now you have multiple options. There are more flexible ways for how you can use your pensions, and employers’ attitudes have also evolved.

Some employers offer a transitionary period – sometimes over several years. This may allow you to work part-time and get used to having more time before you stop working completely.

Read more: What Is a Phased Retirement and Could It Prove a Smart Choice for You?

If you're a business owner, taking a gradual approach to retirement could allow you and your team more time to adjust to not having you at the helm.
 
3. Get clear on your purpose in life

If, like many of us, your identity is tied to your job or profession, you may feel you’ve lost part of yourself when you’re no longer working.
 
To avoid this, create a new purpose for this next stage of life.

Consider what you’re passionate about.
 
Understanding what energises you can help you find a renewed sense of purpose. And you can plan your days around your dreams and the activities you enjoy.

4. Create a routine to give structure to your days

Work has probably provided a steady routine and formal structure for years.

Be ready to replace it with a new schedule that suits you.

If you don't know where to start, you could create a routine that supports your physical and emotional wellbeing, for example:

• Go for an early morning swim to invigorate mind and spirit for the day ahead.
• Begin each day with a brisk walk
• Join a gym.

Rather than getting stuck in front of daytime TV because you can't think of anything else to do, form a routine that gets you out of bed and out of the house.

5. Build social interactions into your everyday activities

Losing regular social contact may be one aspect of work that you miss most.
 
Loneliness among older people is a growing problem. In fact, Age UK estimate that by 2034 there will be 1.2 million people over 65 in England who will often feel lonely [1].

To avoid this very real problem, be proactive. Join a club, take up a new hobby or meet up with a local friend for a regular walk, lunch, or a coffee.
 
For more inspiration, look up u3a to find out what’s going on near you. From sports and book clubs to theatre trips and art classes, there's bound to be something to inspire your next chapter.

Get in touch
To find out more about how we can help you prepare for a fulfilling retirement, please email info.wp@titanwh.com or call us on 0800 048 0150.

Please note
The information contained in this article is based on the opinion of Titan Wealth Planning and does not constitute financial advice or a recommendation for any investment or retirement strategy.