Adding social planning to your financial planning can make a big difference to your health during your retirement. 1 (Lumino Health Jan. ’23)
Retirement is a big life transition. When people leave work, some people let go of a big part of their identity. But preparing for the change can help you thrive. But we often overlook the importance of our social lives as we leave the working life.
Evidence on social connection in retirement
- We are social creatures. Good friendships can help us manage stress and find time to laugh and relax
- Beyond having individual connections, we benefit from belonging to groups.
- The BMJ Open study found that those with at least 2 group memberships had a lower risk of dying in 6 years after retirement. Those who held onto their group memberships also reported a higher quality of life. Social groups were as beneficial to well-being as physical exercise
How to plan for social retirement
- To plan for a connected retirement, think about the groups you already have first. Are they still important to you and will you want to stay involved for a long time?
- If you want to join more groups, consider the following categories
- Social Clubs - These clubs can range from art to technology
- Fitness or sports groups - from pickleball to golf and in between, find ways to enjoy physical activities with others.
- Volunteer causes - check with charities or community services about volunteering. It's a fulfilling way to stay engaged and feel proud of helping others
Sincerely,
Mike Busby (5-Sep-23)
THE COMMENTS CONTAINED HEREIN ARE A GENERAL DISCUSSION OF CERTAIN ISSUES INTENDED AS GENERAL INFORMATION ONLY AND SHOULD NOT BE RELIED UPON AS TAX OR LEGAL ADVICE. PLEASE OBTAIN INDEPENDENT PROFESSIONAL ADVICE, IN THE CONTEXT OF YOUR PARTICULAR CIRCUMSTANCES. THIS ARTICLE WAS WRITTEN, DESIGNED AND PRODUCED BY MIKE BUSBY FOR THE BENEFIT OF MIKE BUSBY WHO IS A FINANACIAL ADVISOR FOR BRANDON LINDSAY INSURANCE AGENCIES, A TRADE NAME REGISTERED WITH INVESTIA FINANCIAL SERVICES INC., AND DOES NOT NECESSARILY REFLECT THE OPINION OF INVESTIA. THE INFORMATION CONTAINED IN THIS ARTICLE COMES FROM SOURCES WE BELIEVE RELIABLE, BUT WE CANNOT GUARANTEE ITS ACCURACY OR RELIABILTY. THE OPINIONS EXPRESSED ARE BASED ON AN ANALYSIS AND INTERPRETATION DATING FROM THE DATE OF PUBLICATION AND ARE SUBJECT TO CHANGE WITHOUT NOTICE. FURTHERMORE, THEY DO NOT CONSTITUTE AN OFFER OR SOLICITATION TO BUY OR SELL ANY SECURITIES. MUTUAL FUNDS OFFERED THROUGH INVESTIA FINANCIAL SERVICES INC.
