10 surprising things no one tells you about retirement

Many people spend their whole lives looking forward to their retirement. You’ve finished working, you’ve got money in your pocket, and your kids are off on their own adventures. What’s not to love? Turns out, though, there are some surprising things that no one tells you about retirement. From skyrocketing divorce rates to missing the social aspect of work, it’s not all fun in the sun. Read this guide, and you’ll be prepared for your retirement. 

Housing will remain your biggest expense 

Hopefully, you’ll have paid off your mortgage by the time you retire. That means you can live stress-free, knowing that the roof over your head isn’t going anywhere. However, that’s not the case for every retiree. In fact, retirees spent an average of $17,472 on housing in 2019. This statistic is skewed by the fact that a lot of retirees end up in assisted living for an easier life. If you really want an easy life, you can sell the house and move into a retirement community where everything is done for you. Check out assisted living Encinitas for one of the best communities in the US. 

Retirees get a lot of tax breaks 

Tax changes when you retire. Now that you have finished working, you might think that the days of paying tax are over. But you’d be wrong. Retirement-account withdrawals and Social Security benefits are subject to tax, which means you still have to take it into consideration when you’re working out how much money you have in your nest egg. However, it’s not all bad news. Retirees also get a lot of tax breaks. For example, taxpayers aged 65 and over get a bigger standard deduction on their tax returns. Reading up about tax breaks for retirees could end up saving you a lot of money. 

You need to plan for the long term

One of the biggest mistakes made by retirees is not planning long-term. If you’re lucky enough to retire at 60, you could still have 40 years ahead of you. The average life expectancy in the US is 78.7 years, but you could live much longer than that. It’s important to make sure you have enough money to sustain yourself well into your 90s. Having said that, retirement isn’t all about scrimping and saving. The years between 60 and 75 are likely to be your best, so do all of your traveling then. 

Divorce amongst retirees is rising 

Divorce rates amongst the over 50s are rising. This is something that many retirees don’t consider. You and your partner have stayed together through thick and thin, so why would you split now? Well, the problem is that you’ll have a lot of time on your hands. If your relationship isn’t strong enough, this could end up driving you apart. Now that the kids are gone and you don’t have work to escape to, it’s just you and your partner all day, every day. If this is something you’re worried about, seek out a marriage counselor. 

Some retirees drink too much 

There’s nothing wrong with enjoying a drink or two. But when you’re retired, the lack of structure can turn casual drinkers into full-blown alcoholics. This is something you have to be really careful about because it could put you in an early grave. It’s best to try and maintain the same drinking habits you have always had unless they were already out of hand. For example, if you used to go for a drink on a Friday after work, there’s no reason that has to change now. 

You might miss working 

This one might surprise you. A lot of retirees end up missing work. Yep, you read that right. Sure, the initial buzz of staying in bed until 10 am and not worrying about work in the morning is a thrill. But, after a couple of months (or years) without it, you might start to miss it. You probably won’t miss the early mornings and office politics, but you will miss the social aspect. Bear in mind, though, this is probably down to the fact that you are focusing on the good things of work and forgetting the bad. 

You probably won’t start volunteering 

Lots of retirees make grand claims about volunteering and traveling. However, the truth is, if you haven’t been doing it your whole life, you probably won’t start now. Many retirees just fall into a new routine without ticking things off their bucket lists. Of course, this is a choice. It’s never too late to change your ways, and you could end up being the next Mother Teresa. 

Retirement can be lonely 

You might envisage your retirement as a constant social, full of coffee meetings with your oldest friends and long walks with your loved ones. The truth can be quite different, though, with many retirees feeling lonely. As you get older, your friends will become less able to meet up, you will inevitably lose some people, and your ability to make new friends will diminish. So, how do you combat this? You could keep working, move to a retirement community, ask loved ones to make regular visits, and learn to use technology to stay in touch. You will have to work hard to stay connected, but it’s totally worth it. 

You’ll think about your health a lot

Declining health in older age is inevitable. We all know it’s coming, and there’s really nothing to do to stop it. However, you might not be ready for just how much you’re going to think about it. You need to practice positive self-talk and distraction techniques to stop yourself from being consumed by the thought of your own health. Eating healthily and regular exercise will also help you feel better and reduce the need for medical intervention. 

You might start to feel younger 

On the plus side, you might feel a sudden burst of life when you retire. You suddenly have the same freedom you had in your 20s. Except for this time, your bank account is full and you don’t have the pressure to succeed on your shoulders. If you adopt this mindset for your retirement, you are guaranteed to enjoy it more. Just because you wear comfortable shoes and like to have naps doesn’t mean you have to stop having fun!