So, you’re thinking about or have reached retirement, what next?
It can be quite a challenging time so remember to give yourself some space, reflect and think about what you want your future life to look like.
Experts encourage you to consider whether you are financially and emotionally ready to retire. Here are a couple of interesting articles: https://www.theguardian.com/membership/2017/mar/06/how-to-retire-successfully-you-need-to-ask-what-you-want-out-of-life https://www.psychologytoday.com/us/blog/cutting-edge-leadership/201501/are-you-psychologically-ready-retire
Introducing your Midlife MOT
Your midlife years – that is, when you’re between about 40 and 60 – will probably be a very hectic time indeed. You might have ended up in a challenging job, or you might be working hard to get one. You could be looking after the kids, your parents or possibly both. Maybe you’re putting time and energy into a whole new way of life. All of that (and more) could even be happening at once! Whatever’s going on, it’ll be keeping you very busy. That can make it difficult to look beyond your day-to-day challenges and achievements. Mid-lifers often find it hard to find the time and space to take a long-term view of where they’re headed and what they need to do to get there.
But your midlife years are the perfect time to do just that. Regular work, wealth and wellbeing check-ups can help you lay the foundations for a much more focused, productive and fun journey through your 40s and 50s. And they’ll set you up for a much more colourful future too. The changes to life expectancy – up 6 years for men and 5 for women since the start of the 1980s – and the increase in the numbers of women with children who are in employment up 9% since 2000 – have added to pressures on households too. More families are having to care for both their children and their parents at a time when their free time is limited (ONS, 2019).
That’s why the Open University, in collaboration with Legal & General, has created your Midlife MOT to help you. It’ll help you take a look at your finances, see what’s working perfectly and what needs attention. Also work and wellbeing check-ups. They’ll help you look at your general health and fitness, and your career, and make sure they’re on track too.
You can study these three parts of the course in whatever order suits you. Click on the link below to get started. https://www.open.edu/openlearn/mod/oucontent/view.php?id=114930
Retirement for St Monica Trust colleagues:
Please see below guidance about planning for your retirement as a St Monica Trust colleague. Please note that this information is accurate at the time of writing (July 2019) and is subject to change from time to time.
This video from financial journalist and presenter of BBC Radio 4’s Moneybox, Paul Lewis, gives his tips on how to plan for retirement – covering topics such as pensions, tax, annuities, wills and debt.
https://www.ageuk.org.uk/information-advice/work-learning/retirement/planning-for-retirement/