Newly retired? Ideas to enjoy — and fund — your free time
You’ve already done the hard work — putting in the hours on a successful work life. Now, you’re looking toward a rewarding retirement. But retirement can be a tougher transition than many people like to admit, especially if your significant other or close friends are still working.
The truth is, you never know what retirement will be like until you get there. Here are some ideas to consider as you ease into life after the workweek:
Volunteer your time and expertise
Where we work and what we do is how we identify ourselves and how we are identified by others. This can be a difficult shift in thinking for retirees. Give yourself a newfound purpose and sense of accomplishment by volunteering your time and experience. There are thousands of organizations across the county seeking skilled volunteers just like you.
Take more vacations
Just imagine — you’re no longer limited to your company-allotted time off to travel to all the destinations on your bucket list. Visit far-flung family members, plan a road trip across the country, or book a cruise to a dreamed-of destination.
Test-drive new interests
It’s never too late to explore new activities — for example, photography, skiing, baking or HTML coding. And now, you don’t have to squeeze in your new pastime on the weekends. Take advantage of retirement to hone a new skill, widen your circle of friends and keep your brain sharp.
Make home improvements to accommodate you now — and in the future
If you’re planning on staying in your home for a while, you might want to consider home renovation projects for greater safety and comfort over the years. Paint that room you always wanted to paint, remodel to create a first-floor master suite with a barrier-free bathroom or make sure your house is safe by ensuring that outdoor railings are strong and area rugs are secure.
Join a gym
Stay active! Increased strength, greater flexibility and balance, a healthy weight and improved mental health benefit people of all ages. Try out a gym membership and take advantage of the equipment, classes or personal training sessions to help maintain your well-being throughout your retirement.
Go back to school
Embrace lifelong learning! Maybe you always wanted to finish your degree but didn’t have the time. Or perhaps you want to master the basics of a new language for an upcoming getaway. Many colleges, universities and community schools offer classes to fit various needs and lifestyles — from continuing education to non-matriculated courses for adult learners.
Enjoying your retirement can take more cash than you’ve anticipated. That’s why more and more retirees are seeking the benefits of a reverse mortgage. Developed exclusively for homeowners age 62 and older, a reverse mortgage loan allows you to convert a portion of the equity in your home into funds you can use as you choose. It’s much like a traditional home equity loan or home equity line of credit, but it’s designed specifically to help people in this age group enjoy more financial flexibility in retirement.
If you’re a homeowner who’s at least 62 years old, it’s worth exploring whether a reverse mortgage could reduce the need to tap into your savings and invested assets, and help you pay for your lifestyle, home improvements and even long-term care expenses. Learn more about reverse mortgages and how they work.
Reimagine your future with the help of a reverse mortgage
As you begin the next phase, Reverse Mortgage Funding LLC can help you secure the financial resources to enjoy the life you’ve worked so hard to build. To find out more about FHA-insured* reverse mortgage loans — how they work, how much you may qualify for, and whether one is right for you — call 888-277-1567 to speak with a licensed reverse mortgage specialist.
SEE WHAT FUNDS YOU MAY HAVE AVAILABLE
If you have equity in your home and believe you meet the eligibility requirements, a HECM may be the option that could help you retire smart.