senior milestones
senior milestones

Setting New Goals For A Successful Retirement

Posted on January 5, 2023 by Henry Ford Health Staff
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As we enter adulthood, we anticipate many milestones, like graduating from school, finding that first job and moving to a first home. As we approach retirement, it may seem like those familiar milestones are missing. But they don’t have to be. How can you set goals and plan for this next stage of life?

“Even before retirement, you can begin to plan for your future life. Explore your lifestyle goals and then review your living, health and financial plans to help you achieve them,” says Hina Hussaini, M.D., a geriatrician at Henry Ford Health.

Planning For Life After Retirement

The time to identify goals for later in your life is before you retire, says Dr. Hussaini. Take time to identify what you want out of retirement and make plans to help you get there. She recommends planning for retirement in five areas: lifestyle, health, housing, finances and personal affairs.

1. Choosing your retirement lifestyle

How do you want to spend your time once you’re done working? To get started, think about these lifestyle areas:

  • Work: Do you want to stop working? Many people choose to shift to a new career in retirement. Or you might want to start a business or take a seasonal job.
  • Education: Have you always wanted to learn a new language or take up an instrument? Interested in exploring your family’s genealogy? Keep your mind active by signing up for classes at a local college or online.
  • Hobbies: Retirement is a perfect time to complete a passion project, return to a long-lost hobby or take up a new interest.
  • Travel: Make a list of places you’d like to visit. Consider taking trips that involve more physical activity earlier in your retirement. Choose a cruise or bus tour if you have limited mobility. Stagger trips so you can look forward to upcoming adventures.
  • Volunteering: Share your time and talents to help others in your community. You’ll make new friends and boost your mood as you give back.

2. Maintaining your health in retirement

Make your physical and mental health a priority in retirement by taking these steps:

  1. Schedule annual physical exams: See your doctor regularly for a thorough exam, preventive cancer screenings and recommended immunizations. You may need additional testing based on your family history, underlying conditions and lifestyle. Consider seeing a geriatrician, a physician specially trained to care for the unique medical needs of older adults.
  2. Stay physically active: Exercise offers many health benefits, including improving bone health, increasing flexibility and preventing injury. Find an exercise buddy to help you stay motivated. Try a new sport like pickleball.
  3. Address mental health needs: For some people, transitioning to retirement can increase feelings of anxiety or depression. You may no longer have the social connections you once enjoyed through work. Talk with your doctor about any mental health challenges you’re facing. Explore how psychotherapy may help you cope.
  4. Prioritize self-care: One of the joys of retirement is having better control over your schedule. Before you fill your calendar with activities, take time to care for your physical, mental and spiritual needs.

3. Planning for retirement living

Retirement offers an opportunity to move—whether that’s far away or just to a new home in your community. Dr. Hussaini suggests considering these factors when planning retirement housing:

  • Location: Do you want to stay in your current home, relocate to a new area or move closer to family?
  • Safety: Is your current home accessible if your mobility becomes limited? Stairs, rugs or clutter can increase your risk of a fall. Would you like to downsize to have a smaller home or apartment that’s easier to manage? Consider wearing a medical alert device to assess emergency help if you live alone.
  • Future needs: Even if you choose to stay in your current home, plan for future housing needs. As you age, you may need help with daily tasks. Would you prefer to have an in-home caregiver or move to an assisted living with graduated nursing care? Share your wishes with your family

4. Refining financial plans to support your retirement

Review your finances and determine how you’ll fund your retirement. You may want to meet with a financial planner to address these issues:

  • Do I have adequate savings to fund my desired retirement lifestyle?
  • Which funds should I access early in my retirement, and which ones should I save for my later years?
  • When is the best time to begin collecting social security?
  • Once I transition to Medicare at age 65, what other health insurance coverage should I consider?
  • Do I need a long-term care insurance policy?

5. Managing personal affairs in retirement

Take time before you retire to manage your personal affairs. Consult an attorney to:

  • Address end-of-life care: Create an advanced health directive or living will outlining your end-of-life wishes. Designate a relative or friend to make healthcare decisions if you cannot.
  • Create a will: Choose a personal representative to oversee the disbursement of your assets upon your death. Ask about ways to structure your investments to reduce the tax burden on your beneficiaries.

Retirement Planning Resources

You don’t have to make retirement plans alone. Consider tapping these resources for retirement planning:

  • Healthcare professionals: Your doctor can refer you to a social worker or local community resources to help you determine your current and future retirement needs.
  • Family and friends: Talk with family members or friends who have already retired. They may have advice on housing communities, activities and other resources to guide your planning.
  • Organizations: Many organizations are dedicated to helping older adults live an active and fulfilling life, including the Area Office on Aging and the American Association of Retired People (AARP).

Looking for more information about healthy aging advice or want to make an appointment with a geriatrician? Call 1-800-436-7936 or visit henryford.com.

Dr. Hina Hussaini is a geriatric medicine doctor who sees patients at Henry Ford Medical Center - Detroit Northwest.

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