Retirement is not just about money, it is much more than that. Yes you need to have sufficient money to keep you living comfortably. But it is also about the type of lifestyle that you want to lead. It can take some getting used to. After all you are giving up your work contacts in many cases and losing that daily interaction you received from going into work. Many retirees are looking for the right balance to enable them to enjoy their new retirement lifestyle. They turn to other endeavors to gain what they need to fill their days, to find satisfaction out of their life and to pass the time. Here are a few examples of what retirees are considering. Usually the first 6 months is no problem. After that, boredom sets in unless you do something about it.

Retirement is not Just About Money

Social Butterflies – These folks spend a lot of time with friends in each others houses, going to social events and spending time with each other.

Community Minded – Volunteering at a local charity, helping at events and getting involved in the community provide a great deal of social interaction as well as contributing to a feeling of self-worth.

Mall Walkers – Exercise might be on their mind, but they also meet friends at the mall and combine exercise with social interaction in a pleasant environment.

Still Working – Some go back to work in different industries or even the same industry. They might need the money, but many miss the interaction with colleagues and this gives them a chance to get out each day to meet friends, colleagues and the public.

Sports – Now you have more time to follow the sports you never had time for in the past. Golf, hiking, bicycling etc

Snow Birds – Yes they go south for the winter, but what do you do when you get there. Basically the same things as mentioned above. They pursue the same activities in warmer climates.

Family – For some this is a huge issue. Babysitting the grand kids, spending time with family, supporting someone who needs a lot of help.

Happiest – The most satisfied people appear to be the ones that have social involvement with others regardless of how they obtain the interaction with others. For many it is a combination of all of the above and you will live longer by interacting with others.

One of the few things that are never talked about when you are considering retirement is the adjustments you need to make. From work to having an extended time away from work after retirement. Most writers discuss the financial side of retirement and whether you will have enough money to live comfortably. Will you be able to do some of the things you want to do? There is much more to retirement. Whether you enjoy your retirement or not depends a lot on other things such as friends, hobbies, and interesting things to do. You Need Friends in Retirement. Money is important, but so is having interesting things to do and enjoy with friends.

My wife always tells me I need to focus more on keeping up with friends and less on working. “You’ll be sorry when you retire and don’t have anyone to do things with besides me,” she warns. I think she is also worried that I will be underfoot and our relationship will suffer. She could be right. It’s easy to assume retirement planning is all about the bucks. The dollars are important, but nonfinancial issues matter too.

A Pew Research Center report shows friendships rank with sound health and finances as the factors most likely to boost happiness. The study found that retirees who are very satisfied with their number of friends were nearly three times more likely to be happy than those who are worried about relationships. A comparable gap exists between those who are very confident in their finances and those who aren’t.

You Need Friends in Retirement

Retirees with friends not only feel better about themselves, but they also have more to discuss. Most people with friends find that they are doing more extracurricular activities. Whether golf, which is often popular, cards, hiking, swimming, or whatever you and your friends find interesting, there is something to look forward to and enjoy.

The fact is, as we age, our focus tends to shift from finances to finding meaning in our lives, according to research by the MetLife Mature Market Institute. “You begin to think about how much time you have left,” says gerontologist Sandra Timmerman, “and you ask yourself, ‘What’s really important in life?'”

So what do we really find important? Social connections, for one. The Pew study found that another factor driving happiness is attendance at religious services. Retirees who attend some form of worship, even if only occasionally, are more content than those who seldom or never do. I bet this has as much to do with being part of a group with which you share time and values.

Investing in relationships

You should not necessarily address lifestyle issues with the same precision you do your finances by allocating 40% of your time to health matters, 35% to friends, and 25% to spirituality. But it can help to approach financial matters in a somewhat similar manner.

For example, just as you should diversify your nest egg, you need to have a balanced approach to retirement readiness.

And just as it’s important to visualize your retirement before you invest, you need to plan ahead for the role your friends will play in your post-career life. Start by taking stock of your social network. One way to expand your connections is by joining groups dedicated to causes you believe in or volunteering. According to Urban Institute research, retirees who volunteer are about 15% more likely to be very satisfied than those who don’t.

Increasing your priority level to maintain your friendships and enjoy their company is important to your overall enjoyment during retirement.  There is more to retirement than money and friends.

Invest time in Interesting Activities

Let’s face it, once we retire, there is a lot more time to consider life and consider what we will do next. This transition from work (getting up in the morning regularly, meeting with colleagues, etc.) to a life with lots of time on your hands can be traumatic for many people. Even with lots of friends, there will still be lots of time on your hands, so it is important to spend some time on what you would like to do during retirement.

Having lots of friends will automatically add activities. But what do you do in those down times? Prior to retirement, it is important to explore some of the hobbies that you may have given up when work was too intense. You may want to start new hobbies. You may want to work part-time. Also, you can spend more time with the grandkids, travel, or start a new business.   We already mentioned volunteering in the traditional sense. What about volunteering for a small business in return for free services? We know one friend of ours who volunteers at the YMCA in return for a free annual membership! Not only does he meet new people, he gets some exercise, and he is also contributing to the community.

Look for New Things to Do

There are lots of ideas and activities which individuals can consider. Start by writing down a list of possibilities. Set it aside for a few days, review it, add some more, cross off those that just will not work for you, and try a few. Some will work while others will not. Eventually, you will find something that catches your interest. Talk to your friends to generate ideas as well. What might not work for them might be perfect for you.

Whatever you do, think about more than your nest egg. It would be a shame to get that part right but not enjoy your retirement. Remember that it is important to strike a good balance between time spent on maintaining your nest egg, maintaining and building friendships, and finding interesting activities to challenge you and maintain your interest.