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From the Teacher Support Network, www.teachersupport.info.
MAKING THE MOST OF YOUR RETIREMENT
How to manage money, relationships and more time on your hands
By Lucy Rowe
Guide links:
Money management
Now you’ve retired money can become more of an issue than ever. Going from a regular income to living on your pension and savings can be a difficult time for many. The first thing that you can consider is how to make the most of your money.
Budgeting is a great way to start and can help you to highlight any areas where it is possible to cut back your spending or reallocate your funds. Our ‘Money makeover’ Factsheet can also help you to find great ways to save on your regular outgoings such as energy bills and food shopping.
There are also many organisations which offer discounts to those aged 50+. Visit the Senior Discounts Website to find out about discounts in your area.
Changing relationships
Whilst planning your retirement you will probably have been thinking about your pension and finances. However may people don’t realise the great impact that retirement can have on their personal relationships.
Common issues include teachers finding themselves suddenly spending more time with their partners and finding their loved ones have fallen ill or passed away. There are organisations you can turn to for support, for example Relate and CRUSE, who provide counselling and practical advice on these issues.
Hobbies
Having retired you may find that you suddenly have a great deal of free time on your hands. Whilst this can be one of the best things about retirement, many people can end up feeling lonely and isolated.
Hobbies can be a great way to avoid this feeling, as well as helping you to learn a new skill and make new friends. Whether you’ve longed to try out a new sport or activity but have never had the time or aren’t sure what you fancy there are many options out there. Your local newspaper and doctors surgery often advertise social groups and many leisure centres offer activities and classes for the over 50s.
Staying independent
As you get older you may begin to have concerns about continuing to make routine journeys independently. There are many ways that you can still stay independent, even if your mobility is reduced. Concessions are available on public transport for older and retired people and you can claim a free travel pass for bus and train travel within a certain distance of where you live. There are also services in place for people who find it difficult to travel because of a disability, which you can find out about at your local libraries and train and bus stations.
If you are worried that you may not be able to stay in your home, organisations such as Age Concern and Independent Age can help you with any queries you may have.
However if you do feel that you would like to look into the option of assisting living, www.housingcare.org gives you information on a wide range of issues including retirement housing and choosing a care home.
Guide links:
Source information:
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