‘What do I do now?’: planning for a happy and meaningful retirement

Retirement is giving Michelle Nixon, 61, the chance to do things she never had time to do when she was working.

Michelle Nixon says staying connected, fit and active are the keys to her happy retirement.

Nixon always planned to retire at age 60, her preservation age for accessing superannuation if she needed it.

“You get to that age where you just know that you’ve had enough,” she says.

“I felt that most of my working life had been full-time with only four weeks holiday each year and there’s no point sitting around to pension age and waiting until we’re 67.”

First, she re-potted her plants and cleaned out the gutters. Now she is on a mission to declutter her and her husband’s home of 25 years; she’s also learning to use her new iPhone.

She is a regular at her local community centre, where she is staying active with tai chi and stretch and strength classes. She’s also joined a friend in taking Feldenkrais Method classes, a form of movement, which provides the chance to catch up afterwards every week over coffee.

“I really appreciate not having to be somewhere at a certain time, just being able to say, ‘Let’s meet for coffee’,” she says.

“Connection is important for me [in retirement] and keeping fit and active.”

Seventy-nine-year-old Gwen Wilton agrees, although she took a different path to find her post-work network.

Gwen Wilton served as VIEW’s national president.

When she retired aged in her mid-60s, she joined the Picton branch of women’s volunteering charity the VIEW Club, which stands for the voice, interests and education of women.

The organisation supports the education of young disadvantaged Australians through The Smith Family, and volunteering commitments vary week to week, depending on the club’s needs.

“It’s been a really good experience,” says Wilton. “I love what we do. I’ve had the opportunity to meet a lot of the students that we sponsor; I can see the absolute benefit of it.”

Wilton says she also receives benefits back. “My mother had been in VIEW Club for many years and I could see the difference it made in her life - she absolutely blossomed,” she says.

“They were so supportive and friendly and it was wonderful for her and I thought I would have a look and see if it was something for me.”

In her retirement, Wilton also attends trivia events a few times a week to keep her mind active, belongs to a Probus club, and spends time with family and friends.

“I don’t know how I ever found time to go to work,” she laughs.

Remaining engaged in the community and not becoming socially isolated, particularly if living alone, is important for retirees who no longer have work colleagues around them, says COTA Australia chief executive Patricia Sparrow.

COTA, Australia’s Council on the Ageing, advocates for older Australians to promote, improve and protect their wellbeing.

Sparrow says a common error people make is treating retirement as a one-off event and not planning what they will do in the coming years.

“They’ll look forward to it and then the event happens and they have to rethink,” she says. “We’re not very good at seeing it as a major life transition and planning for it.

“We don’t think it through and think about what we want to do and what will give us meaning.

“You’ll often hear people say they really enjoyed it for the first three months and then think, ‘Well, what do I do now?’.”

Aware Super’s research suggests many people feel worried or overwhelmed when they think about retirement. Some have only focused on whether they can afford to retire and when, for example, they can access their superannuation.

It recommends retirees think carefully about how they will spend their time; planning scheduled activities can help them create purpose and enjoy life more.

Aware also encourages retirees to take time to determine what retirement will mean to them – and reports that everyone has a different answer about what their retirement will look like.

COTA’s Sparrow agrees it does not matter what retirees do to find meaning and connection in this new stage of life. She says volunteering, spending time with family, pursuing hobbies and even part-time or casual work are common pursuits.

“Some actually do want to just kick back and stay in their pyjamas all day,” she says.

But individuals have to decide for themselves. “So, it might be a hobby more than volunteering or it might be family more than something else,” says Sparrow.

“Those things that we know give meaning to all of us, the connection and purpose is important for everybody at every age, really.”

Planning their activities also enables retirees to obtain the right balance and prevent others taking up all of their newfound time with babysitting grandchildren or the like.

“If you actually think about it, you’re more likely to land with a balance that you’re happy with,” she says. “Do what makes you feel good and what nurtures you.”

• Advice given in this article is general in nature and is not intended to influence readers’ decisions about investing or financial products. They should always seek their own professional advice that takes into account their own personal circumstances before making financial decisions.

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