Retirement: A Moment to Reinvent Yourself

Key Takeaways

• 1. Age gracefully during retirement by experiencing and doing new things.
• 2. Take the opportunity to rediscover and reinvent yourself.
• 3. Spend your golden years wisely with the right tools.

Retirement: a moment to reinvent yourself

Active ageing and retirement are interconnected concepts that have become increasingly important as people are living longer and retiring later in life. While retirement presents various opportunities to reinvent yourself, personal finance planning at retirement is crucial to ensure your savings can last through your golden years.

If you have secured the financial aspects of your retirement, you might wish to start thinking about how to enrich your future years emotionally and socially. Let’s explore how retirement can be the next chapter of your life where you may age gracefully and reinvent yourself.

1. Travelling the world… slowly

Make use of your newfound freedom to enjoy the adventures waiting for you around the world. In addition to embarking on short trips, consider spending weeks to months immersing yourself in a single destination. You could opt for homestays, which can provide invaluable insight into the local community’s lives and culture, all while forging unforgettable connections and embracing the hidden nuances of a region. In a new place with new friends, you might rediscover dreams and thoughts in your busy youth that you set aside to relook later in life.

During this period, remember to activate your Citibank Global Wallet to instantly connect foreign currency account(s) to your Citibank Debit Mastercard, and top up your wallet when you find favourable exchange rates.

2. Embarking on a major project

Leaving work doesn't necessarily mean saying goodbye to productivity and passion. If you have always wanted to start a project to solve a problem you strongly identify with, it may now be the best time to do so.

Such a project may take any form, from that of a business to a society or a non-profit. It could be an individual endeavour or something that requires a team effort. If you were a specialist for most of your career, you might find out your latent talents in other disciplines as you put on multiple hats to gain traction in your project.

3. Gaining mastery in a new skill or hobby

If you don’t wish to embark on a major project yet but still wish to challenge yourself, learning a new skill or discovering a hobby that you have always wanted to learn can be equally rewarding. From studying a foreign language to learning how to play an instrument, there are avenues to re-activate different faculties of your mind that might have laid dormant.

Joining classes or online courses may be a great way to kickstart this educational process. By learning together with others, you may find the opportunity to learn more about yourself by forging meaningful relationships with like-minded individuals from diverse backgrounds.

4. Becoming a teacher or mentor

Some people look at retirement as a time to reinvest in their community. One great way to do that is through teaching and mentoring on a subject you might have expertise in. Another way is via philanthropy, where you may wish to donate some of your capital, time, or both, to support worthwhile causes.

Giving or teaching on topics close to your heart may help you learn more about yourself on why you have always identified with these causes. By sharing your knowledge, connections, and enthusiasm with others, you might find yourself rejuvenated with hope and positivity in your retirement years.

5. Prioritising family and friends

Last but not least, with less stress and pressure from the daily grind, you may find yourself wishing to spend your time with friends and family.

Those with children who have a family of their own may want to consider helping with the grandchildren. This may help you reconnect with your children, who might have left home a while ago to pursue their education and careers. Many memories of your youth when you started a family can be relived and shared.

With more time on your hands in your retirement years, you’ll finally have the time to rekindle friendships and spend quality time with them by picking up common hobbies or activities. You may even decide on taking a trip together!

Getting out of your comfort zone during retirement and practise active ageing

Retirement is a truly unique moment in life. It signals the end of one journey and the beginning of many others—an exciting period full of opportunities for growth and exploration.

Disclaimers

This article is for general information only and is not intended to be a forecast of future events nor a guarantee of future results and should not be relied upon as financial advice. All views and opinions are as of the date hereof, and are subject to change based on market and other conditions without notice. The article has no regard to the specific objectives, financial situation and particular needs of any specific person. It is neither an offer nor a solicitation to purchase, nor endorsement or recommendation of any products or services mentioned therein, and the products or services mentioned may or may not be offered by Citibank Singapore Limited, its related entities and their respective directors, agents and employees (together "Citigroup").

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