When asked what they are going to do next, most newly-minted retirees answer, "Nothing!" After fighting traffic and dealing with office politics all those years, that's understandable. Everyone deserves a break. But how long does that take? Weeks? Months? Years? The average retirement period is 20 years. Surely it’s not going to take that long.

Retirement Yo-Yo

Perhaps you have seen or heard of someone who goes bananas in retirement and ends up back at work. The boredom and lack of structure was too much for them. They return to work and tell their coworkers retirement wasn’t for them. After they’re back on the job for a while, they remember why they wanted to retire in the first place. So they retire again. This isn't the most graceful way to end to a career.

Have a Plan

The key to a happy retirement is to have a plan. You have many options from which to choose. You can get involved in a volunteer organization that works to improve your community. You can travel and visit all of the places on your bucket list. Or, you could work part-time in a different field or open a small business. 

Maybe there’s a hobby you've wanted to try but never had the time when you were working. You could take up golf, gardening, classic car restoration, woodworking, quilting, hiking, photography, art, singing, playing a musical instrument, bicycling, writing, learn a new language, cooking, computer programming, physical fitness, swimming, tennis, scrapbooking, hunting, fishing, antiquing, bird watching, ballroom dancing, crafting or any number of things. The possibilities are endless.

Studies have shown that retirees who remain active and engaged live longer and healthier lives. The key is to have a plan before you retire. That way you will be ready to execute it on day one. The prep work will be behind you and all of the pieces will be in place. 

Don’t fall into the trap of thinking you’ll have plenty of time to decide what to do after you retire. No you won’t. You will be too busy watching cable news or sports all day and the next thing you know you’ll be dead (or worse, back at work). Put the time and effort in before you retire to develop a plan for what you will do after you retire.

Photo credit: Pixabay The Eggstack Blog will never post an article influenced by an outside company or advertiser. Our mission is to help you overcome uncertainty about retirement planning and inspire confidence in your financial future.