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16 Things You Could Do On The First Day Of Your Retirement

16 Things You Could Do On The First Day Of Your Retirement

Retirement is a beautiful time in your life. You’ve done the daily grind, you’ve lived a life, raised kids, and had some adventures. It’s time to settle down for your golden years, reflect on your choices, and have some carefree fun. If you’re having trouble figuring out what to do with your free time, here’s a short list of ideas to get you started!

1. Get a part time job

Idle hands are the devil’s playthings as the old saying goes. Sediment lifestyles are poisonous to the mind and the body and if you’re having trouble finding a reason to get off your chair and move around then maybe a part-time job can help. Something that’s low pressure where you can interact with other people, make a couple of bucks, and get out of your house for a bit. It can also contribute to your income along with your 401k and pension if you have those things and a little extra money is never a bad thing.

2. Spend some time and money on your hobbies

When you’re young, life is just so busy. We have to work, we have a social life to maintain, and sometimes we just want to take some time to ourselves. Once you’re retired, the fast living has come to an end and you have a lot more free time. Why not restore that classic car you’ve always wanted? You could write that novel you’ve always wanted to write. If you’re an aficionado of BBQ, you can get a smoker and work on that perfect rib rub. The world is your oyster and the things you enjoy have been neglected long enough.

3. Exercise more often

It’s important to exercise all of your life. However, it’s especially important once you’re older. Even though you don’t have to work anymore, you still have a myriad of diseases headed your way that are associated with being old. Heart disease is more prevalent than ever. Obesity and diabetes are pretty big deals too. Getting some exercise can extend your life, make you feel better, and help stave off the woes of growing older. Your metabolism isn’t getting any faster so you should probably do something about it so you can enjoy your golden years even more.

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4. Do that long overdo work on your house

Does your roof leak? Does your insulation need replaced? Do you not want to pay anyone to do it? Well I happen to know a certain someone with a lot of free time and not much to do. That person is you. Now that you’re retired, you can turn your house into the castle you’ve always wanted it to be. Replace the counter tops, put that full service bar in your basement, and make that sun room a beautiful place for your grand kids to play. Plant a garden, work on your lawn, and get rid of that dying tree in your yard. You don’t need that tree in your life anyway. You have time to perfect your house so why not do that?

5. Or you could always move

If your current house isn’t worth all the trouble, then why not move to the place you want to be? Some people like living in the city with stores and entertainment a mere few blocks away. Others prefer the country with huge yards, clear skies, and a quiet neighborhood. Whatever your tastes are, you should make good on them. These are your golden years and you should spend it where you want. Then once you move, head one space up on this list and you suddenly have something else to do!

6. Start a business

You’ve spent the last 20 to 40 years being a part of a business. We’re sure you’ve picked up some insider info on how it all works. You could always take that experience and start your own business. It’ll give you something to do and think about and you could even be providing jobs for other people someday. If you’re looking for some good ideas, check out number two on this list. You have hobbies and interests that could easily be turned into a business idea. Then you’ll get paid for doing something you love. That’s not a bad way to spend your later years.

7. Get back in touch with your family and friends

Being a highly motivated worker with a spouse and kids is a lot of work. You very likely have loved ones that you haven’t spent much time with over the years. Retirement is a great time to give them a call and go get some coffee to catch up. There may be people that you didn’t have time for as a worker but could be very positive parts of your life now that you don’t work anymore. You have second cousins and distant family that you may have never met. Isn’t it time to change that?

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8. Volunteer

There are very few things that give you the warm, fuzzy feeling of helping your fellow human beings. No matter where you live, we’re sure there are people nearby who need help. You can volunteer at the local soup kitchen or homeless shelter. You can volunteer to clean up parks and local landmarks. Churches and schools in your area always have something they could use a couple of extra hands on. If you’re super adventurous, you could even go help out overseas somewhere. The world still needs you. You just need to find out where it needs you!

9. Teach others your wisdom

You’ve lived quite the life. You’ve seen things and done things. You worked hard and managed to make it all the way to retirement. Chances are there is a field or area of expertise that you could easily teach. Some schools and universities are looking for teachers. You can hold seminars at your local library or even teach a class at the local learning annex. There are several generations of younger people that could use a lesson or two from someone with your experience.

10. Get smarter

If teaching isn’t your thing, why not be taught? You’ve got a lot of time which means you could go back to school and get that degree you’ve always wanted. Or if you have a degree, you could always go for the next level in that degree or even start a second degree. It’s probably been two or three decades since you’ve been in school. Things have changed since then and becoming educated is never a bad idea.

11. Babysit

Many parents in your neighborhood would love a night out — and if you still like having kids around and enjoy spending time with them, babysitting might be for you. If you need to make some extra money, this could be the perfect way to enjoy a child’s company and have a job at the same time.

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12. Travel

This is something a lot of retired people do anyway but it’s still a great idea. There are a lot of ways to travel. You can buy a motor home and go on a road trip, buy some plane tickets to an exotic place you want to go, or even go camping. You deserve a vacation and now you have the time, money, and motivation to do so. Do you know what goes well with oysters? Pina Coladas and beaches, that’s what.

13. Make sure you’re really okay

It’s about time you took a visit to your doctor and got a little more than your monthly check up. You should have your heart looked at, your body scanned, and some more in depth tests done. You’ve just worked for 20 or 30 years at a stressful job. Your diet probably hasn’t been all that great and you may have been a smoker for a while. These things take an unimaginable toll on the human body. Go see your doctor and make sure you’re going to actually enjoy your retirement. Visit your dentist and take care of those chompers. Make sure you don’t need glasses. You don’t need to call off of work and get a doctor’s note anymore so take advantage of the opportunity!

14. Give up the grudge

You’ve likely made some friends over the years and it’s equally likely that you’ve made some enemies. You may have some loved ones that you haven’t spoken to in years because of a disagreement. Now that you have some free time, isn’t it time to figure out what those disagreements are and figure out how to fix them? These have the potential to be the calmest, happiest times of your life. Why let old grudges wreck that?

15. Be more social

Just because you don’t work doesn’t mean you can’t go places and do things every day. You could join a club like a book club or fishing club, throw some dinner parties, and other social activities. Go out there and meet people. It’s the perfect time to do so. A lot of retirees can end up old and alone because their social lives were their jobs. You can easily avoid this by finding things to do with other people. If there aren’t groups in your area, start one!

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16. Relax

If there is one thing people don’t do enough of anymore, it’s relax. It’s your first day of retirement. You just finished working 20 to 30 years. You’ve raised kids. You’ve been to concerts, parties, amusement parks, and planned family vacations. You’ve had friends and family pass away which means mourning and funerals. It’s been busy and stressful. Now the kids are out of the house and you don’t work anymore. Sit down, put on a favorite movie, and just stop for a day or two. You have the rest of your life to do everything on this list but the first thing you should do is sit down, take a deep breathe, and understand that the hard part is over. You’re free. Enjoy yourself.

Featured photo credit: Stonewood Financial via stonewoodfinancial.com

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Published on July 4, 2018

Top 10 Recommendations on Money Management Apps

Top 10 Recommendations on Money Management Apps

Don’t want to overspend your budget, swipe your credit card too many times, and feel like a financial mess? Instead of beating yourself up for the bad financial decisions you’ve ever made, create a new plan!

The solution is simple, save more and spend less. But, we all know it’s easier said than done.

One problem is finding quality apps that save you time and money, and aren’t just hype.

Luckily, there’re many great money management apps available at your fingertips. Here are 10 reliable money management apps that can help you save money, and crush debt.

1. Personal Capital

    When was the last time you’ve tracked your net worth? Probably months ago or maybe never. Personal Capital allows you to easily track your net worth and plan for retirement.

    Here are some of its main features:

    • Sync many investment accounts, and expenses (mortgage, credit cards, etc.) in one place
    • Discover hidden fees and how much they’re affecting your retirement plan
    • Wealth management for investors requiring a long-term strategy

    With Personal you’re free to track your expenses and net worth.

    Available for: iOS and Android

    2. Mint

      If your smartphone could only install a few apps, Mint would be one of them. Why? Because Mint tracks all your balances and bills in one place.

      Here are some of its main features:

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      • Effortlessly track all your bills and balances in one dashboard
      • Categorized expenses to understand where you spend your money
      • Uncover hidden fees, and determine your investment style with sophisticated retirement tools.

      Feel at ease with managing your money by a reputable company that isn’t going anywhere.

      Available for: iOS and Android

      3. YNAB

        Everyone needs a budget, there’s no way around it. YNAB (You Need A Budget) is an easy to use app that will change the way you think about money. Their motto is to “give every dollar a job”, and you’ll quickly discover why.

        Here are some of its main features:

        • Easily sync all bank accounts in one place
        • Visually see your debt paying progress with eye-catching charts and notifications
        • Customized categories setting saving goals

        The best part about YNAB is the community that comes along with it. You can hop on the YNAB forum to receive support, listen to the YNAB Podcast or stay tuned for their weekly videos.

        Available for: iOS and Android

        4. Wealthfront

          Albert Einstein once said “compound interest is the eight wonder in the world”, and for a very good reason. The problem is, most people are scared or unwilling to learn the basics of investing. This is why Wealthfront is the perfect solution for the hands-off investors.

          Here are some of its main features:

          • Variety of investment account options including IRA, Roth IRA, and more
          • Your portfolio composed of 7 different asset classes
          • Automatically rebalanced portfolio
          • Daily tax loss harvesting

          Wealthfront is perfect for people requiring investment guidance, or prefer a hands-off solution.

          Available for: iOS and Android

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          5. Clarity Money

            If you’re staying on top of your budget but want to take your finances to the next level, Clarity Money can help you. Clarity Money helps you stay under budget and build a personalized savings plan.

            Here are some of its main features:

            • Easily cancel subscriptions with one click
            • Synchronize bank accounts fast
            • Transfer money effortlessly between different accounts

            Clarity Money isn’t an app that does it all. But, it does make transferring money and canceling subscriptions fast and efficient.

            Available for: iOS and Android

            6. Acorns

              What if there was a way to quickly gain confidence in investing your money, without too much risk? There is, and Acorns is your solution. With Acorns’s technology, you’re able to make investments as small as $5.

              Here are some of its main features:

              • Automatic contribution option
              • Customized portfolio tailored to your needs
              • Low management fees ranging from $1-$2 per month

              Stop wasting dollars on expensive coffee. Instead, invest them towards a brighter financial future.

              Available for: iOS and Android

              7. Albert

                Do you budget by only subtracting your expenses from your income? If so, how would you discover any overpayments or extra money you could save? This is where Albert shines, and it does it all free.

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                Here are some of its main features:

                • Receive notifications for overpayments, hidden fees, and low balances
                • An Automatic budget that’s built around your spending and income
                • Easily track debt and set new financial goals

                While Albert does offer a paid option, most of its core features are FREE. So, what better option to save?

                Available for: iOS

                8. Prism

                  Have you recently forgot to pay a bill because life got in the way? Prism automatically tracks your bills and syncs your bank accounts in one place.

                  Here are some of its main features:

                  • View all your account balances in one glance
                  • Bill due dates are automatically pulled and tracked
                  • Receive early reminders for upcoming bills

                  If your budget is on “fleek” but can’t seem to stay on top of your bills, Prism is your go-to app.

                  Available for: iOS, Android, Windows, Amazon

                  9. Mvelopes

                    Remember hearing about people using envelopes to budget their money? Well, Mvelopes is the new envelope system for this generation. Easily create monthly budgets and track your saving goals.

                    Here are some of its main features:

                    • Connect unlimited bank accounts
                    • Real-time budgeting with auto transaction syncing
                    • Low monthly $4 fee or $40 annual

                    Mvelopes can help you crush debt, save more, and help you stop overspending. With its low monthly fee, it’s worth a try.

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                    Available for: iOS and Android

                    10. Wallaby

                      Most people don’t have time to track their credit card’s changing rewards and interest rates. Because of this, you need help reaping the most of your credit card’s rewards. Wallaby is the app that will help you do just that.

                      Here are some of its main features:

                      • Automatic recommendations for the best credit card to use for each transaction
                      • A friendly user interface, displaying credit cards with their corresponding images
                      • Free to use

                      If you’re using the same credit card to make your purchases, you may be leaving money on the table. Give Wallaby a try if you’re ready to maximize your credit card’s rewards.

                      Available for: iOS and Android

                      Take control of your finances and experience financial freedom

                      Picture yourself staying on budget and saving more money than you’d ever imagined.

                      It took hard work and dedication but you’d finally learned how to manage your money. You have to start taking control of your spending and saving habits.

                      You now have a list of reliable apps that can help you build better money habits, what are you waiting for?

                      Featured photo credit: Pexels via pexels.com

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