Blog Invest Best ways to keep busy after retirement

Best ways to keep busy after retirement

date December 30, 2020 time 5 min read 488 views

You’ve finally reached what everyone waits for. Retirement. Instead of waking up early every morning, dealing with endless meetings, and sloughing through your inbox every day, you might be wondering: what do I do after retirement? With all this new-found freedom, it’s finally your chance to stop the grind and pursue what you really enjoy instead.

Retirement is the moment that a lot of people wait for their entire careers. Instead of long commutes, late nights at the office, and worrying about deadlines and deliverables, you now have time to pursue your hobbies and passions.

But it can be hard to occupy all of this free time with productive things you’re passionate about. Especially when you’re used to having huge chunks of your day taken by work. If you’re struggling to fill your days, explore our top picks for what you can do after retirement.

What to do after retirement

Invest

You’re still going to need money in retirement. The extra free time may be a great opportunity to make yourself a more active investor.

You may already have retirement investments like an IRA or 401k, and probably a bit of money in stocks through a financial advisor. And these are great for safe returns.

But now, you finally have the time to do the research to expand your investment portfolio. Explore options like mutual funds, real estate investing, exciting new stocks, or hot up-and-coming alternative investments like peer-to-peer lending. You could make big returns if you research well.

Travel

Now that you’re done with the 9-5 grind, you have more free time. And with more free time, it’s the perfect opportunity to see the world. 

Instead of staying at home after retirement, hop on a plane, or plan a road trip to scratch your travel itch. You don’t have to worry about overusing your vacation days, travel is one of the best after-retirement activities. 

If you want to make your destination more permanent, you can even choose to live in a variety of different places instead of settling down in just one. 

Live abroad for a few months or move closer to your family to spend time where you’ve never before had the chance to stay for the long-term.

Some of the best international destinations for retired expats to consider include:

  • Canada
  • Spain
  • Australia
  • Costa Rica
  • Germany
  • Singapore
  • Panama
  • Vietnam

Moving to one of these cities will give you plenty to do after retirement as you continue to see the world.

Travel is one of the most popular after-retirement activities to keep you busy and expand your horizons by seeing more of the world and the country
Travel is one of the most popular after-retirement activities to keep you busy and expand your horizons by seeing more of the world and the country (source: pexels.com)

Start a business

Here’s an after-retirement idea, put your decades of work experience to use by starting your own business during retirement. 

If you’ve spent years in the field, you probably have some insights that people want to hear. One simple way to start is by simply making a one-person consulting business. You can freelance out your services to large corporations, or opt to help out smaller businesses that can benefit from your expertise. 

You can also use retirement as an opportunity to pursue a new career you’re passionate about, and turn it into a full-time job. Start a business based on one of your hobbies and see where it takes you. Who knows? It could become an extra source of retirement income.

Thanks to years of experience in the workforce, starting your own business is the ideal after-retirement idea
Thanks to years of experience in the workforce, starting your own business is the ideal after-retirement idea (source: pexels.com)

Take a class

While most people spend the first quarter of their lives in school, learning tends to get more specialized as you continue in your career.

Retirement is a great opportunity to return to those roots. If you’ve always been interested in pursuing a higher degree or honing your skills in a certain area, take all of your new-found free time and spend it expanding your horizons.

There are countless classes available through educational institutions like universities or online platforms like MasterClass or Skillshare. Choose from classes like:

  • Comedy – Many cities offer improv classes or have a comedy scene. Take a class for some laughs.
  • Digital Illustration/Animation – Got an artistic streak? There are thousands of classes online for new fields like digital illustration.
  • Cooking – Video platforms like Youtube have taken cooking instruction to the next level from chefs around the world. Find recipes online, watch how they’re done, and wow your friends and relatives.
  • Learn a new language – Your community probably has at least one or two language meetups and study opportunities for foreign languages. It’s never too late to brush up or learn a new one.
Need ideas for what to do after retirement Try taking a course on something you’ve always been interested in
Need ideas for what to do after retirement? Try taking a course on something you’ve always been interested in (source: pexels.com)

Volunteer

Now that you’re not spending all your days in an office, take that time to do some good in your community. Choose an organization to volunteer with, even just one day a week. 

Consider volunteering for national and international organizations like:

  • The National Park Service
  • The Peace Corps
  • Habitat for Humanity
  • Big Brothers Big Sisters of America
  • Meals on Wheels

You can also opt to help a local organization like a food bank or hospital. 

This much-needed support will go a long way to helping nonprofits achieve their mission, and it will also help you feel fulfilled. It even gives you the opportunity to meet new people and build social connections now that you’re not going into an office every day.

Volunteering is one of the most fulfilling after-retirement activities that will help you keep busy and give back to your community
Volunteering is one of the most fulfilling after-retirement activities that will help you keep busy and give back to your community (source: pexels.com)

Earn steady, hassle-free income in retirement through P2P lending

Peer-to-peer (P2P) lending is fast becoming one of the hottest new trends in investing.

Our platform, MyConstant, for example, offers a low-risk and hassle-free way to invest your money for compounding 7% interest by investing in people around the world. All loans are backed by collateral so you don’t need to worry about defaults eating up all your earnings.

Want to invest but maintain easy access to your money whenever you need it? MyConstant’s anytime-withdrawal lending pool gets you 4% APY and lets you take out any amount at any time, with no fees. Does your savings account do that?

Get in the know with modern investing. Sign up for a free account today and see what we’re all about.

**Disclaimer – This article is for informational purposes only and should not be seen as investment advice. Make sure you do your research before making any major financial decision.

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George Schooling

George Schooling

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