A guide to a stress-free retirement

The popular image of retirement promises freedom and relaxation. Unburdened of work, you should be looking forward to exploring your hobbies and more time with family. Right?

Sadly, however, struggling with retirement has become increasingly common. It’s not always the idyll it’s painted to be and pensioners can struggle for a number of different reasons.

If this sounds familiar, there may be strategies that can help you improve the situation, whatever the cause, such as;

• Loneliness and anxiety after retirement

• Boredom

• Worry about others

• Where to stay after retirement

• Financial pressures
   

Loneliness and anxiety after retirement

Social interaction is important.According to anxiety charity Calm Clinic, isolation and loneliness can be both a cause and a symptom of anxiety. And it’s a problem that can often worsen itself. If you’re suffering, try these remedies.

• Talk to friends and family. If you’ve been feeling distant, make an effort to spend more time with the people you already know. It doesn’t matter how many people you get in touch with so long as the relationships you nurture are positive ones.

• Find a social hobby. This might include a reading group, religious meetings, joining a club such as the golf club or a walking group, volunteering – whatever might appeal to you and your interests. Search for these online, or by visiting your local community centre or library.

• Connect online. If you’re not that mobile or simply prefer to meet others at your own pace, Internet forums are a good way to talk to those with similar interests. The Gransnet forum might be a good place to start (of course, grandfathers are welcome too). Even if you’re not a grandparent, there’s plenty to join in on and discuss.

• A problem shared… If you’re lucky enough to have a close network of family and friends, don’t be afraid to discuss what’s creating your stress with them. Whether they offer a fresh perspective or just a friendly ear, their support may relieve some pressure.

Boredom

We typically associate stress with overwork, so it can be a surprise to discover that lack of activity leads to exhaustion too. However, studies show that inactivity can cause mental strain – something you might be unlucky enough to know from experience.

Leaving work is a huge life change. It can very easily lead to boredom if you don’t know what you want to do with the time you’ve now gained. Many choose to volunteer, take up a sport, hobby, or even a new job. If you have the money for it then you could also consider travel.
 

Worry about others

A big source of anxiety after retirement can be worries about loved ones; children and grandchildren in particular. But supporting them can also be emotionally draining. Alternatively, you may be too far away to offer support or feel that your advice is not being listened to.

If you find yourself in this situation, try to share your worries with somebody removed from the situation. They may be able to give you a fresh perspective or simply act as a sounding board. Here, online forums where you can speak to others who have been in the similar situation can be very helpful. Again, Gransnet could be a useful choice.
 

Where to stay after retirement

If you’re retired or coming up to retirement, you might be thinking about whether you want to stay in your home, move to a smaller property or relocate somewhere completely new. Many retirees choose to downsize, often to a cheaper house, enabling them to benefit from equity they’ve built up in their current home.

But some approaching retirement choose to stay in their current property for several reasons. This could be due to the sentimental value of the home, the lifestyle they enjoy in a particular area or to stay close to neighbours, friends and family.
 

What to consider for home adaptations

If you want to make the most of your house for many years to come or you’re undecided about moving, you could look at ways you could adapt your property to suit you during your later years.

Home adaptations for seniors and those taking retirement can mean a variety of things to different people. Below are some of the main considerations when looking at ways you can adapt your home for life to ensure it remains a comfortable and enjoyable place to live.

Mobility

Accessibility is a key factor to consider if you’re intending on staying where you are. Unfortunately, becoming less mobile is an aspect of getting older, so it makes sense to future-proof your home as much as possible. This doesn’t mean fitting a bunch of hospital-style equipment to every wall or room – you could make subtle changes that will make getting around your house easier and safer when you get older.

Considering any potential barriers in your current home is the first step when thinking about mobility home adaptations for independence. Here are some elements you might want to assess:

• Stairs – This includes both external steps, such as those leading from your door to the path or driveway, and internal stairs. Adding outside lighting could make exterior steps safer while handrails both inside and out will increase accessibility. There is also the option of a stair-lift if stairs become more of a problem in the future.

• Bathroom – This is often a major factor when making home adaptations for independence, especially if the space currently consists of a bath with an overhead shower. You could think about adding a modern wet room for easy access and contemporary rails to assist mobility.

• Downstairs extension – If you have the space and the funds, a ground-floor extension could offer an ideal area for a downstairs bathroom, toilet or even a spare bedroom. These additions could also come in handy if you have the grandkids over to stay.

• Storage – While many people tend to store items away in unused rooms such as the attic or cellar, it’s a good idea to sort through your belongings and relocate what you might need to more accessible places.

Security

As people get older, they often feel more vulnerable in their homes – especially if living alone. While it’s a good idea to make your home as secure as possible at every stage in life, there are a few ways to add to your peace of mind as you enter retirement:

• Alarm system – You might already have a quality burglar alarm but, if not, now could be the time to get one fitted. Make sure to also cover outbuildings such as a garage, particularly if you keep valuables stored there.

• Lighting – Motion-sensor lighting is a good deterrent, and you could also ensure your outdoor spaces are well lit at night.

• Video doorbells – These allow you to see who’s at the door before you answer it, so you can avoid opening it to salespeople or someone you might not know.

• Window and door locks – Keep doors locked even while you’re in and be mindful of leaving windows open, especially at night. If your locks are old, it might be worth investing in newer, more secure devices from a reputable company.

• Community alarm system – The government offers free home security for pensioners in certain areas of the UK, consisting of a community alarm to help support independent living. The government website can tell you whether your local council offers this service.

Dealing with financial pressure

If money is the cause of your anxiety after retirement, there are a range of options open to you. But it’s always good to talk to the experts. This might include the Money Advice Service, the National Debtline or the Citizen’s Advice Bureau.

Once you’ve talked it through, you might want to consider downsizing and taking the excess money from your house sale to supplement your income. You could also consider taking on a new job – perhaps starting an entirely new career.

Equity release allows you to release cash from your home without moving. It’s our area of expertise as we consider all of your options. You can learn more about equity release here and, if you are considering it, make sure you read ‘Is it right for you?’ carefully.


Be financially aware
Lifetime mortgages are secured loans. Compound interest means the amount you owe can grow quickly. Equity release reduces your estate's value and may impact means-tested benefits. It may leave little or no property equity, reducing future financial options.
 

Speak to one of our advisers

Speak to one of our equity release experts to find out more about your available options on 0808 252 9170 or request a call back with our online form.

All our equity release advice relates to lifetime mortgages - a loan secured against your home. Our fixed advice fee of £1,699 is only payable on completion of a plan.