Habits may shape your life in significant ways. Habits are frequently the deciding factor between daydreaming and actualizing. Those who are physically fit make regular time for workouts, and musicians regularly engage in the practice. Writers frequently produce written work.
The pathway to anything worthwhile is usually achieved because of the formation of a habit.
To what extent do your current habits provide a happy retirement?
The importance of good saving, investing, and budgeting practices cannot be overstated, but is retirement just a mathematical problem? Do you see budgets and asset allocation models while daydreaming about your retirement? You probably don’t. Although financial stability is essential, remember that it is only a means to a goal, not an end.
What additional habits can ensure a comfortable retirement?
(1) Urgency: Always act like time is of the essence.
In the United States, the median age of death is nearly 80. If you can retire at age 65 and maintain your current health and activity level until age 75, you will have at least a full decade to fulfill all of your lifelong ambitions.
Successful retirees appreciate the value of every moment and act accordingly.
(2) Be willing to take chances
Risk avoidance can be a desirable strategy in some situations. Helmets, seatbelts, and life insurance are great! However, you shouldn’t get so preoccupied with constructing a moat that you never venture beyond the fortifications. An exceptional retirement requires a healthy dose of risk. This is not a recommendation that you go out and try things like base jumping or using power tools while intoxicated, but an encouragement for you to take measured risks to achieve your goals.
(3) Maintain a healthy lifestyle
Flu, diarrhea, and TB were the top three killers in 1900. Heart disease, cancer, and strokes are today’s leading causes of death. Food habits, physical activity, smoking, alcohol consumption, and stress are all influenced by lifestyle factors. Imagine how long the average life expectancy might be if we weren’t actively working to reduce it, given the advances in medical science. Practice healthful behaviors regularly.
(4) It’s better to retire for a purpose
Quitting your work and retiring early is a surefire way to feel unhappy and unfulfilled. Defining retirement in terms of what you’ll no longer have to do (job, duties, commitments) may leave you vulnerable to feelings of insecurity, guilt, regret, and boredom.
Happy retirees don’t spend time trying to escape their problems but solving them.
(5) Retire based on your savings, not your age
When asked when you plan to retire, you should provide a cash sum rather than a specific date. Independent living in retirement is much more than just reaching a certain age; having sufficient financial resources is essential. If you desire a certain standard of living in retirement, you should know how much money you’ll need to save.
Successful retirees don’t care about age, but they do care about their savings.
(6) Make a Decision
Pick acceptance over rejection, motion over inaction, and excitement over boredom. Sometimes it’s best to wait to get what you want. It’s a bad habit to have once you’re retired. Time’s running out. Finding your life’s true calling is a challenge, no doubt. True, going for the gusto is both terrifying and hazardous.
Active retirees take on new challenges with enthusiasm. Not one of them holds out for “Someday.” They have finally accepted that “Someday Is Now!”
(7) Perform Vital Tasks
As humans, we are responsible for contributing to the world, and in retirement, that requirement does not go away. This essentially means that we can make decisions independent of how much money they’ll net us.
(8) Foster significant connections in your life.
Humans rely heavily on their relationships with others to be fulfilled. Successful retirees are always searching for new ways to maintain meaningful relationships with their families and communities.
The work you do every day matters more than the work you do once in a while. There is no time in life when this is truer than when you’re retired. The more effort you put in every day will form positive habits that will help make your retirement successful. If you invest time, you can find that you have developed a habit of living a rich and fulfilling life.