Happy Retirement

QUESTION: What are keys to a happy retirement?

ANSWER:

There are three rules for a happy retirement.

• Create a steady income by investing a portion of a 401(K) or savings in an “income annuity,” which pays you a guaranteed income as long as you live. This plan of annuities and having a monthly check for life helps you to have the cash for unexpected expenses. Further research is needed before obtaining annuities to make sure they are from a reputable financial company.
• Staying active increases your ability to enjoy retirement. Volunteering up to 200 hours a year was enough to satisfy the retiree’s feeling of usefulness. But this positive effect disappeared at 500 hours of volunteer service. So don’t overdo on the volunteering. If it becomes a chore, you're doing too much.
• If at all possible, try to control your timing for retirement. We can’t control being forced into retirement by ill health, disability, or company downsizing. This accounts for 75 percent of involuntary retirements. It pays for us to plan for such an occurrence. We can pay for health insurance coverage while we are in a healthier condition, because many companies will not cover pre–existing conditions as we get older.

Sharing what God has blessed us with is a key to a happy retirement. The blessings of God are a gift to share with others—for we are blessed to be a blessing. When we give to others our basket of life seems to overflow with the goodness of God.

Recently, I donated several copies of a book I have written to an organization that helps women coming out of prison. The head of this organization said she would be teaching this as a Bible study. She could not thank me enough for these books. Yet, I was the one most blessed in giving to those who have such a need.

God loves a cheerful giver. When we give out of love there is joy expressed in our giving. People will see and know there is something special in your gift. “Your basket and your kneading trough will be blessed. You will be blessed when you come in and blessed when you go out” (Deuteronomy 28:5-6).