Five steps to retire well

While financial security is important to retire comfortably, the key to a truly fulfilling retirement goes beyond having enough money. It’s about ensuring all other aspects of your life—health, relationships, sense of purpose and overall happiness—come together to create something meaningful and purposeful.

Here are five areas to focus on as you plan your retirement:

Understand your new lifestyle

Retirement brings a significant shift in lifestyle. Without a structured work routine, you’ll have more free time, but what will you do with it? Will you travel, take up new interests, or give back through volunteering? Think about how you’ll stay active and involved. 

It’s important to consider your living situation too—will you stay put in your current home, or is it time to downsize or make a change? Planning ahead will make your transition smoother. 

Organise your finances

To enjoy your retirement without the worry of running out of money, you will need to plan financially. With life expectancy on the rise, Australians who retire at age 60 can expect to spend 20-30 years in retirement. This requires thoughtful planning to make sure your savings will last  . 

Not sure how much you’ll need to retire comfortably? Visit How much is enough.

A licenced financial planner can help you create a plan for your future. They can help you work out what you want to do in retirement and how to plan your finances to get there. Although there may be some costs for professional advice, it is an investment for your future and provides peace of mind.

Prioritise your health

Health is the foundation for retiring well. By adopting a lifestyle that includes regular physical and mental exercise, and a balanced diet, you can maintain energy and vitality for years to come.

What activities can help you keep well? Exercise does not need to be intense to be effective—walking, yoga and swimming can help you stay fit. Mental exercises such as puzzles or reading can help keep your mind sharp.

By prioritising your health, you’re investing in a long, active and fulfilling retirement. 

Invest in relationships

Retirement can change the dynamics of your relationships. With more free time, you may find that your connections with family, friends and your significant other shift.

Retirement offers the opportunity to connect with loved ones and invest in meaningful relationships that contribute to your overall happiness. Consider the relationships that matter most to you. Perhaps you’d like to spend more time with your friends, children or grandchildren, or maybe you want to make new friendships by connecting with people in your community.

Focus on happiness

Happiness doesn’t happen by chance—it’s something we actively work towards through our mindset and actions. While you can’t control what life throws at you, a positive mindset can help you navigate retirement even when the unexpected happens.

Try to find joy in the little things, whether it’s a book or time spent with a loved one. Focus on staying present in the moment and practice gratitude.

Retiring well is about more than having enough money—it’s about creating a life full of purpose, good health, connection and happiness. By planning ahead, you are one step closer to a more meaningful and fulfilling retirement.