At retirement, some retirees are ready to finally kick back, travel the world, buy a house in the country and live out their old age. Others are not so ready to relax. They fear that feeling of boredom and would prefer to keep working as long as they can move.
For both groups, there’s hope. Countless creative options exist for retired people can stay productive even long after they’ve left the office. Some of these activities cost next to nothing. For example, volunteering, socializing, and taking up a new sport. Other retirement activities are not so inexpensive and may require some capital. Fortunately, there are many easy ways for retired people to raise money, e.g. applying for their retirement benefits, taking out a home equity loan, or using a reverse mortgage calculator to find out how much reverse mortgage they can get on their home.
Here are some productive things to do in retirement
1. Take a Vacation
Once you’re out of the workforce, the perfect way to celebrate will be to take a long fun vacation, different from the short ones you took when you were employed and had to be back to work in a week or two. Travel internationally; to a place you’ve always loved or always wanted to see. Some great locations for post-retirement travel include Israel, Australia, Southeast Asia, Africa, Ice-land, Ireland, Sicily, and Costa Rica.
If for any reason a retiree can’t travel internationally, there are several options for domestic travel, e.g. taking a United States Coast-to-Coast road trip or RVing with your family. You can also transform your home into a staycation resort and live the rest of your retirement like an endless vacation.
2. Work Remotely
Most people in the working population wouldn’t mind having flexible hours, so flexibility is a huge bonus for the retired. A lot of people would keep working forever if they could choose their hours. Retirement gives you a chance to wake up whenever you like, go about your daily activities and then sit in your home office for a few hours doing remote work.
According to remote work statistics in 2022, 70% of people working remotely reported that they were more productive when working in the comfort of their homes, so what better way for a retiree to remain productive than find remote work.
There are different ways for retirees to find remote work. They can either search for traditional jobs that have a remote-work option or go for contract or freelance jobs. Traditional remote jobs expect the remote worker to follow almost all the same rules as every employee while freelance jobs allow the retiree to determine their hours, clients, projects, etc. Remote jobs exist in almost every industry and one can find them by either searching online or asking to be hired by previous employers on a remote basis.
3. Start a Home Renovation Project
After retirement, you’re probably going to be spending more hours in your home than you ever have. Therefore, retirement is the best time to make your home into a dream retirement home that’s cute and comfy. There are several renovations you may need to make in your home to accommodate your advancing age. Renovations are expensive so you may need to only pick projects that are worth the cost.
Some great home renovation ideas for retirement include a new porch, a new home office for remote work, a new kitchen, a curbless shower, a first-floor bedroom, etc. Many retirees raise money for these types of home renovation by taking out a reverse mortgage loan.
4. Move to New Locations
After retirement, you no longer have to live close to your workplace; this gives you the freedom to move to anywhere you love. You can set up new roots, meet new people, and live close to your favorite kids or grandkids.
The best thing about a post-retirement move is that there is often no hurry to it, which means you can take as much time as you want to pick a new location of your choice. This makes the move as stress-free as possible for you. You can also choose a city just based on its good weather or friendly people since you have no obligations to any city in particular.
5. Start-Up a Business
Armed with your retirement benefits or a personal loan, you can start your dream business post-retirement. When you have the time and money to start a business, your possibilities are endless. However, try to delve into a field where you have knowledge or experience, otherwise, you can hire a professional to offer business advice. Try not to sink all your retirement benefits in an ill-thought-out business plan.