People often suggest determining a certain percentage of your income to set aside for your golden years. However, a better approach would be to first identify the kind of lifestyle you plan to enjoy, and then save accordingly. Here are some things you might want to do:
What's your passion in life? Where do your talents lie? Are there interests you've had to neglect for the sake of work? What about the skills you've always wanted to pick up but never had the time for?
Learn a musical instrument. Pick up painting. Explore the art of woodworking. Write a novel. Take up photography. Cultivate an indoor garden. Do the things you've always wanted but never had the time for. You have decades of time to discover what you're capable of.
You only have a lifetime to see this world, so don't let its treasures pass you by. Go on a road trip around the region, check out the far reaches of the exotic West, see the wild animals of the African plains, lie beneath the Northern Lights, ride a hot air balloon towards the sunset, scale the heights of the Himalayas, dive into the depths of the ocean, or even go into space – who knows what opportunities will be available by the time you retire? The universe is a big place. It's waiting to be explored.
Are there any organisations or causes that speak to your heart and ignite the passions of your soul? Are there groups of marginalised or disadvantaged people whose lives you would like to improve, in any way possible? Sure, you could make donations, but now that you have the time, it might be more valuable and meaningful to reach out to them on a more personal level. Do chores for the elderly. Cook food for the poor. Be a friend to the friendless. Let them know that they're not alone, because we're all in this together.
As we age, our bodies become more prone to medical problems, and it becomes all the more important to maintain a healthy lifestyle. Consider taking up a regular exercise routine. It doesn't have to be something too strenuous or boring, as long as it gets you moving and gets your heart pumping. You could try ballroom dancing, aqua aerobics, martial arts, yoga, or perhaps gather a few friends and start a soccer team. Find something that will bring some physical liveliness to your days. Your body will thank you for it, and the endorphins released in exercise will go a long way towards reinforcing your sense of well-being and happiness.
Retirement doesn't mean you have to stop working if you don't want to. If you have saved enough to get by, you'll have the freedom to pursue a dream career that might have been financially risky in your youth. Perhaps you've always wanted to open a bakery, or be a barista, or set up a fishing tackle shop along a beach on some peaceful remote island. Or perhaps you might prefer working freelance on fun odd jobs, productively engaging your mind and contributing to the workforce without the pressure of making ends meet – where you can enjoy the work for its own sake, rather than as a means to an end.
You might even wish to return to your old industry, now with the wisdom and experience of a full career. You could be a valuable mentor to younger workers in the field, sharing your expertise and advice to help them on their way.
Without the daily interaction with others that most jobs entail, retirees have a tendency to become increasingly isolated from other people. However, there's no reason why this has to be the case. Join a club, connect with other retirees, meet up with old friends, or be part of an online community with others who share your interests. Or venture out of your comfort zone and get to know people vastly different from you, even people you think you would hate. You never know what deep friendships or life-changing experiences you might otherwise miss out on.
Retirement can be a fresh start in life and a chance to begin again. What better way to do that than to go back to school? Learn more about subjects that interest you, or which you think you should explore further. You finally have the luxury to study what you want rather than what you need. Keep your brain engaged and expand your knowledge of the world you live in. School is also a great place to make new friends and maintain an active social life.