Transitioning into retirement or retirement community living can bring many emotions forward and even more retirement questions. For example, what do retirees do day-to-day? How will I pass the time? Will I be okay on my own, or do I need help?
We want to answer as many retirement questions as possible for you and your family. So, we’ve put together a retirement guide FAQ with what we believe to be the most common retirement questions and the answers below.
What Are The 5 Stages of Retirement?
The 5 stages of retirement are:
- Full Retirement
The first stage is the pre-retirement or planning phase. This is when you start asking retirement questions. You find yourself focusing on your finances more and find yourself thinking about your retirement age. You may be asking, is age 70 too early? What will my retirement savings look like? Are my retirement accounts set up correctly? What about my retirement benefits? Hence the name planning phase.
The second stage is known as the full retirement phase. You have answered all your retirement questions and taken the leap. Finally, you’re fully retired and can begin the honeymoon phase of the retirement journey. The full retirement phase is when everything is perfect. You have a well-established budget where you know how much you can spend in retirement. This stage can last up to two years.
Third is disenchantment. You spend your whole working career thinking about how retirement will look. You will likely have many new retirement questions at this stage. We often over-fantasize retirement and may find ourselves lost when it doesn’t add up to what we imagine, or the answers we had to our first round of retirement questions.
The fourth is known as reorientation. During this stage, you’ll find yourself searching for ways to enjoy retirement better. This time, you have knowledge and experience in retirement. This time you have a better idea of what to expect. To enjoy retirement, maybe try a new hobby or create a new routine. The reorientation sage is about settling into retirement.
The fifth stage of retirement is stability. In the stability stage, you’ll find yourself fully at peace with retirement. No more retirement questions, now you’re a resource for others and their retirement questions! You know who you are, and you likely have a new passion in life, such as gardening, nature, carpentry, or any of thousands of possible hobbies.
What Do Retired People Do All Day?
Well, what people do all day is unique to every person. But here are some popular hobbies and ways to pass the time.
Physical Ways to Pass Time
Non-Physical Ways to Pass Time
What Are The Signs You Need To Retire?
- You’re burnt out or have lost interest in working.
- Your health has started to decline.
- You find yourself struggling to keep up with technology.
- You’re now debt free.
- You’re financially ready to retire.
What Are The Three Types of Retirement?
- Full retirement. Meaning you are completely done and can now kick back and relax.
- You’ve retired from your full-time career but have picked up a small part-time job.
- You take breaks from working and go into full retirement in spurts, going back to work after each break.
What To Do The Year Before You Retire?
Before you retire, you’ll want to start your retirement planning. Start organizing all of your retirement questions. For example, will you keep your health insurance or switch to medicare? Are you going to stay in your home or will you move? Is your debt taken care of, and can you pay it off and remain comfortable? You’ll also want to make sure you understand your social security benefits. Finally, look into your retirement withdrawal fees for IRAs and 401(k)s. To ease all of this, you can partner with a financial advisor who can help serve as a financial retirement guide.
What Should You Do Every Day When You Retire?
Your daily routine in retirement can look different for everyone. You’ll want to start each day with a purpose. Experts highly recommend a good morning routine.
Here is a good checklist that you can modify in any way you like:
- Take any required medicines.
- Drink the recommended amount of water.
- Prepare a healthy and nutritious breakfast.
- Make time for some self-care.
- Create a game plan for the day.
- Spend time on a hobby.
How Do I Stop Boredom In Retirement?
To combat boredom:
- Stay positive each day and decide the day’s purpose.
- Reach out to friends and family.
- Stay social and connected.
- Be plugged into the world around you.
Isolation is the one thing you want to avoid the most.
What Makes People Happiest In Retirement?
As mentioned before, having a new passion/hobby is crucial to finding happiness in retirement. Once you retire, you’ll need to create/find a new purpose. Such as a hobby, project, or even volunteering. Whatever brings you meaning is what you should dive into.
Where Is The Best Place For A Senior To Live?
Currently, Florida is ranked as the best state for seniors to live in.
Florida Does Not:
Of course, there are other great states to live in. There is no particular cookie-cutter approach. Each state or region has its pros & cons. You’ll want to create a list of what matters to you and start the research from there.
Why Do People Move Into Independent Living?
- They wanted a life free of chores. No more yard work or cooking!
- They no longer wanted to worry about personal safety and security.
- They wanted to find a circle of friends.
- They wanted to lower their monthly expenses.
How Do You Maintain Independent Living?
Losing grip on your independence is often a source of anxiety. Here are a few things you can do to help maintain and, in some cases, gain back some independence:
- Try and stay as physically and mentally active as possible.
- Maintain a healthy diet.
- Stay socially plugged in with family, church, friends, and neighbors.
- Continue to attend your annual checkups with your primary doctor, eye doctor, and dentist.
- Stay on top of prescribed medicine.
What Is The Difference Between Independent Living & Retirement Living?
One difference between independent living & retirement living is the cost. For example, a retirement home provides medical care, housekeeping, and other 24/7 services. However, these services are only available for a few hours in an independent living model.
Family engagement looks different between the two styles of living. For example, in independent living, family members are encouraged to be deeply rooted within their loved one’s new community. However, in retirement living, the same is asked. Still, family members are also involved in the medical care side of operations. In addition to retirement questions, family has many medical questions. Therefore, staff may update you in more detail, especially in cases of dementia and Alzheimer’s.
What Are The Four Signs That A Senior Should Not Live Alone? When Should A Senior Stop Living Alone?
- A sign to stop living alone may be losing mobility and or falling.
- One may need help to keep up with one’s yard and home cleanliness.
- Someone may begin to have memory issues or get lost easily.
- Struggling to maintain self-care.
How Long Do Most People Stay In Assisted Living?
It can be several years, but on average most people stay in assisted living for a year, some up to two years. But, of course, this can change from person to person based on their health.
At What Age Do Most Seniors Go Into Assisted Living?
The average age requirement for most states’ assisted living begins in the 60s, but some states go as low as 55. The average person in assisted living is 87.
At What Age Do Most Seniors Go Into Retirement Homes?
The average person in a senior living community is 84, but most residents range between 75 to 84.
Do People Who Live In Retirement Communities Live Longer?
Yes, studies have shown that individuals who chose to move to a retirement community lived longer. Retirement homes provide a way to eliminate the stress you face when living on your own in a private home. You also have the advantage of being surrounded by medically trained staff that can catch any health concerns early on and advise you on any retirement questions. Retirement homes also allow you to be socially and physically active through senior living activities. Both of which add time to your life.
Want To Learn More?
We hope you leave this blog with useful answers to your retirement questions. Still, our team is always happy to answer any additional retirement questions you may have! We also post blogs often, so feel free to explore some of our older articles for additional answers to retirement questions.
Saint Ann Retirement Center offers the best senior living options for retirement in Oklahoma City. Assisted living and independent living accommodations enhance the lives of individuals looking for support and comfort and a variety of amenities to keep the community active and engaged. Saint Ann is owned and operated by The Catholic Archdiocese of Oklahoma City, a not-for-profit Christian organization.