Top 7 Reasons to Retire This Year | Senior Lifestyle (2024)

For most of your career, retirement may have seemed impossible.

If you’re like most people, the thought of stepping away from work is bizarre. Even folks that have scrimped and saved their whole careers often feel underprepared for life’s next big chapter. Financially, emotionally, and spiritually, retirement can be a nightmare.

Despite these concerns, retirement might be sounding more realistic. It may even sound like a smarter choice than sticking it out at work.

Though there are plenty of folks that insist on retiring as late as possible, retiring sooner has some strong advantages.

Here are our top seven reasons why you should retire this year.

1. You’re All Set

Graduating to the next stage of your life can be intimidating, but in reality, you’ve been preparing your whole work life for this moment.

If you’ve run the numbers, double checked your 401k, and your financial advisor has given you a big thumbs up, don’t be afraid to make the change. In fact, if you’re in good financial standing for retirement, you’re in a minority.

A GoBankingRates study revealed 30% of people 55 and older have saved nothing for retirement. In the same survey, 26% saved less than $50,000. This means 54% of older Americans don’t have enough money to retire. If you’re in a financially cozy spot, you’re in better shape than most retirement-age Americans.

Often times, folks of retirement age have the means, but lack the motivation to move forward. Always remember that retirement is an emotional journey, just like any other large transition in life.

Talk to friends, family, and old colleagues to find out just what you are missing by not diving into retirement.

2. Improve Your Health

Stress is toxic.

According to Dr. Varnada Karriem Norwood, longterm stress can cause the following unhealthy symptoms:

• Depression
• Anxiety
• Heart disease
• High blood pressure
• Heart arrhythmia
• Cardiac arrest
• Stroke
• Obesity
• Gastrointestinal problems

Though a moderate amount of stress can keep you healthy, an abundance can have dramatic effects on your health.

A life of nonstop stress at work adds up; soldiering on through your retirement years can take a serious toll on your physical and emotional health. For the sake of your own health, know when to call it quits, and enjoy some well-deserved rest.

Retirement allows people to step away from the rat race, focus on keeping active, and enjoy fulfilling activities that don’t include staying late at the office or answering emails on a Sunday morning.

3. Enjoy the Good Life and Start Living Your Dreams

Most people don’t have time to chase their dreams. Between 40 (or more) hours of work a week, managing property and assets, and family responsibilities, who has time to devote to a passion?

In retirement, you can finally start those projects you’ve always dreamed of. Whether it’s travel, leisure, hobbies, or family, the time is finally yours. Many active retirees join clubs, explore new hobbies, or take up old passions like art or theater to keep them social and immersed in their local community.

For many seniors, continuous care or Independent Living communities are an attractive option. These 65+ properties have gained traction in the last few years by providing resort-style amenities and removing the responsibility of daily chores and home maintenance that can often interfere with free time or extended travel.

4. Avoid Unforeseen Changes

You never know what is just around the corner.

Economic and political changes can devastate your investments and put your nest egg in peril. If you are planning on selling or downsizing your home, utilize the thriving real estate market to sell while prices are high. Even seemingly strong markets can abruptly dissolve with a singular “black swan” event.

If you are financially secure now, don’t wait for the bottom to drop out on the market. Talk with a financial planner and start transitioning your savings to safer investments strategies that will work for you long-term. Stop risking your hard earned money and start enjoying the fruits of your labor!

5. Spend More Time with Family and Friends

According to a new study, Americans spends an average of 37 minutes of quality time with their family per day. Americans are too busy working and hustling about to have meaningful time with their friends and families.

If you feel like you’ve spent far more time working than bonding with your loved ones, retirement may open a world of opportunities.

There is no time like the present to start giving your full attention to your spouse, children, and longtime friends. You already have a lifetime of career achievements to look back on, start devoting your time to creating more irreplaceable memories.

6. Time to Give Back or Pursue Your Passion

Retirement doesn’t mean you need to slow down. Turning the page on your career means more time for projects that fuel your passion. Take on more responsibilities at your chosen non-profit or explore volunteer opportunities to find a renewed sense of purpose.

Volunteer Opportunities:

• Local Food Banks, Homeless, Women’s Shelters
• Hospitals, Schools, and Elderly Care Homes
• Political Activism
• Humane Societies and Pet Rescue Services
• Religious Service

Always wanted to make money doing something you love? Try your hand at a simple small business that inspires you each day.

Entrepreneurial Hobbies:

• Woodworking
• Crafting, Knitting, and Crocheting
• Gardening and Farm Share Programs
• Painting, Ceramics, and Sculpture
• Writing and Editing

7. Value Your Time

Only today is guaranteed. You’ve achieved success and all of your work goals, and now is the time to capitalize on the time you have left, and make the most of your retirement years. You won’t ever regret taking that leap, but you may live to regret not having as many years to enjoy the benefits of retirement.

Start Your Retirement Plans Today!

So, what are you waiting for? There is nothing holding you back from realizing your dream of a vibrant retirement except yourself. Set your retirement date today!

If a worry-free lifestyle appeals to you, learn how to enjoy the good life in a Senior Lifestyle Independent Living community, and let us take care of the details