So you’ve had a successful career and have enjoyed your life. Your hard work has paid off, and you have enjoyed your earnings these past retirement years. But your life now lacks some meaning and purpose. You may wonder how you can best use your finances to benefit your own life or the lives of others. The good thing for you is that many successful people have gone through the same experience. Here are five ways that they spent their money after retirement to find the most satisfaction and purpose in life:
1. Donate to Charitable Organizations
Recent studies have found that nearly two-thirds of Americans donate money to charity in a given year. They do this for many reasons, but the vast majority want to contribute to a cause that will benefit those in need. A certain satisfaction only comes from providing for others when they cannot provide for themselves. If you want to feel like you’re putting your money to good use, donate to charity.
Perhaps an even better help is not just giving your money but giving your time to help those in need. Local charities are always eager for extra hands to help accomplish their mission. There are many different methods of service, all of which can do nothing but help the charity. Volunteering can provide even greater satisfaction because you get to meet and provide help directly to those in need. It is much more impactful when you see whom you are helping.
3. Spend time with Friends and Family
Life in the workforce can be demanding and ask much of your time and effort. There has never been a man who looked back upon his life and said, “I wish I spent more time at work than with my family.” Instead, that is often the biggest regret in life. When you’re retired is the best time to connect with families and friends. To feel satisfied with your life and strengthen your family bonds, spend time with family.
4. Stay Physically Active
As simple as it sounds, staying physically active can provide the most significant stress relief and satisfaction in life. Consider establishing a new gym routine or going on regular walks. It doesn’t need to be anything extravagant, but keep your body active to feel satisfied with living your life. These simple habits will help you avoid health issues and feel healthy and eager to stay active.
5. Try New Hobbies
What is that thing you’ve always longed to do but were too busy to commit? Perhaps it was playing the piano or learning another instrument. Maybe it was golf or another sport? Some think it is too challenging to learn new things and develop new skills at a certain age. But that has been proven wrong countless times by those who, after retirement, find satisfaction in living their life by trying new things.
Authored by Carter Walch