Lifestyle
Choose your own adventure: 3 different ways to retire
There’s no one way to retire, but there is your way. We asked the experts to share their best advice on how to find your retirement groove.
By Rosalyn Page
With retirement comes more time and the chance to start a new chapter — whether it’s an end to work and slowing down, seeking out new travel horizons or breaking your own mould. But where to start and how to plan?
So how do you begin shaping a retirement that feels purposeful, energising and truly your own? We asked the experts to share their insights on planning a life beyond work – one that nicely fits who you are now and who you want to become.
1. The full-stop retirement: a new daily rhythm
For some people, retirement means a complete end to the working life and time for hobbies, pastimes or being with the family.
Before embarking on this new chapter, it’s worth considering what brings you purpose and joy.
“Write down all the things you want to do and, if you have a partner, compare the lists,” says Jill Weeks, retirement lifestyle expert and author of 21 Ways To Retire.
After years of being time-poor, it’s a moment to rediscover simple pleasures, according to Kim Watty, who with daughter Prue co-founded The Main Act, an initiative to help women design their next chapter in the lead-up to or after retirement.
“Whether it's art, sport, grandparenting, a new side hustle, or uninterrupted mornings, don’t rush to fill the space – allow delight and curiosity to lead,” says Watty.
Weeks recommends that anyone thinking about retirement sketch out a plan for themselves – from the first day to the first six months, 12 months and two years – to give some structure to their life, without being too rigid.
Flexibility is important in case circumstances shift or plans need to change.
“Having a flexible plan means that you can ‘adjust the sails’ if unexpected events occur,” says Weeks.
Watty stresses that this phase doesn’t need to be ‘productive’ in the traditional sense.
“It needs to be meaningful – on your terms,” she says.
2. The road trip retirement: time for travel and adventures
Stepping into retirement isn’t always about slowing down – it can be an opportunity to change lanes, whether that means exploring the wide-open roads of Australia or heading overseas.
Dreaming big is more than just getting the finances in order.
“Sure, [finances] are important, but more important is what you want to use your retirement money for – and it has to be for enjoying the next chapter,” says Watty.
Watty’s message is that retirement is rarely just a financial or logistical transition. It’s also an emotional, social and identity shift – but one that can expand your horizons.
To do so, however, retirees may need to look beyond the standard retirement guide for direction.
“The majority of resources available at this time of transition are based on finance and financial advice,” says Watty. A guide like Citro’s Pre-retirement gameplan will help you consider both the money preparations and the life changes ahead.
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Weeks suggests tapping into your passions and skills to find ideas for fulfilling adventures.
“Be curious,” she says.
Retirees have accrued years of life experience, skills and career history, and retirement opens new opportunities to combine travel with other interests.
It’s a chance to do more than just see the sights. There are ways to explore your interests more deeply and share expertise with others.
Weeks offers examples of retirees who spend part of the year working on outback stations, people who are relievers for caravan park owners and other businesses, and someone who gives lectures on cruise ships, drawing on his years working in defence.
“Ensure you have a network of people outside of your work place, preferably before you retire, that can introduce you to new adventures, people and places,” she says.
3. The reinvention retirement: live with intention and creativity
This kind of retirement can usher in time for long-delayed creative pursuits and reinventing both your sense of self and your way of living.
It might be uncovering a long-held dream, a new role in the community, or simply a different rhythm of life, says Watty.
She encourages people to step out of the “shoulds” and into the “what ifs.”
“Identity doesn’t need to shrink in retirement. In fact, it can expand. We call it designing a life with intention and imagination, not just letting life happen to you,” she says.
More on this: The identity shift of giving up work doesn’t have to be scary
Weeks suggests those starting to think about retirement do an exercise where they list all the skills they have along with the things they like to do.
“Is there a way that you can match these?” she says.
Weeks offers the example of a woman who was a social worker for many years who also liked to travel. When retirement arrived, she started thinking creatively about ways to combine her skills and interests.
“With her skill of ‘helping people’ plus her love of travel, she went on to establish walking tours for women,” says Weeks.
Her advice is to look at retirement as a ‘portfolio lifestyle’ with different parts that can include part-time work, hobbies, volunteering and leisure.
She suggests people ask themselves: ‘Is my portfolio balanced?’
“This is your chance to explore, create, study — follow your passions,” she says.
Why women and men have unique retirement needs
Retirement is rarely a one-size-fits-all experience. Women and men have different needs as they move into retirement and consider their goals and priorities.
Watty’s mission is to offer a space where women can intentionally design their next chapter, whether they’re a few years away, actively transitioning or already retired.
“Women benefit most when they’re offered permission and structure – permission to dream and structure to turn ideas into action,” she says.
Her programs emphasise the importance of reflective journalling and peer connection because she’s found that wisdom and encouragement flow when women share openly.
“For partners, the best support is active listening and encouragement. Asking what she’s dreaming about. Share your hopes too, but don’t assume you’re on the same retirement path,” she says.
Equally, men can benefit from support to build connections and take the initiative to avoid drifting and the emotional and physical consequences of losing their professional purpose, according to Lanning Bennett.
A former business executive who founded GoRetirement, Bennett has a focus on helping men address challenges such as lack of social skills and connections they can face as they move into this phase.
Bennett believes retirement is a return to the natural self or the person we were before acquiring all the different identities through life – especially the professional career identity.
“Often we can't let these identities go and, in retirement, if we’re still acting as if we are CEO, this won’t work,” he says.
However, change can be more stressful for men. Bennett’s advice is for men to start preparing well ahead of retirement – years ahead – to form the social connections that will help build a bridge from their work selves to retirement selves.
“Find other interests and pursue them and build the social network well before retirement,” he says.
Feature image: iStock/PeopleImages
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