Staying positive key to retirement wellbeing

In all phases of life, attitude and health are the two key factors that give us the best chance of achieving emotional and financial happiness and security. If we are able to achieve that in our retirement years, our overall wellbeing is pretty much assured.

The term ‘wellbeing’ can be broken down into three types: emotional, physical and financial.

Emotional

Getting up every morning with a purpose in mind for the day ahead and a positive attitude is essential. Other ways to contribute to our emotional wellbeing are setting goals, helping others, connecting with and socially interacting with groups of people from different walks of life and with different interests, being thankful for what we have, treasuring the small things, staying active, doing what we are passionate about and even continuing to work beyond 65 for less than full-time hours. This will ensure a continuity of connection with people and continues to provide income. Also important is estate planning. Your Will should already be in place. Time now to appoint Powers of Attorney, provide those who need it with a Memorandum of Wishes and a Guide for the Living and deal with any trusts and companies you may have.

Physical

Our physical wellbeing can only be achieved by having the right mindset to eat well and be active. Every day we are exposed to the virtues of a healthy diet and the need to exercise regularly. However, our diet and exercise practices throughout our lives will be what we take into our retirements. For many, to achieve physical wellbeing is going to require change but a human behavioural trait is that we do not like change, particularly as we get older. Your challenge is this: if you think you need to or should improve your physical wellbeing, make some changes now. They don’t have to be revolutionary. Learn about eating healthily and what is recommended by qualified dietitians. Eat items like bread and potatoes in moderation and drink alcohol in moderation. These are the big contributors to weight issues. Go for a walk each day. Set yourself some physical wellbeing goals. Achieving them is a real way of giving yourself a better chance of living a longer, happier life.

Financial

This can be defined as having sufficient capital to allow lifestyle choices – the more capital we can access, the more choices we have. How much capital will a couple need to supplement NZ Super and retire comfortably? This will depend on where you live. In a larger city it’s about $785,000; if you live in a provincial region it’s about $486,000. The best website for help is www.sorted.org.nz It has a variety of tools to assist you to calculate what you need for your future financial wellbeing.

Retired accountant and succession specialist Barry Rosenberg is director and founder of 65 Not Out – Reinventing Retirement, www.65notout.com

If you think you need to or should improve your physical wellbeing, make some changes now.”

| Farmlands shareholders Barry Rosenberg and son James.

TOP 5 TIPS FOR WELLBEING

1. Communicate and be connected to people. 2. Make sure you get up each day with a purpose and positive attitude. 3. Keep your body and mind active. 4. Eat healthy. 5. Begin your financial planning well before retiring.

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