Any good retirement plan should take all manner of things into consideration – how much money you'll have to live on, achieving your dreams and how you intend to fill your time.
As many retirees have been working for several decades, the thought of suddenly not having a day to day routine to follow can be somewhat daunting.
This is why so many people turn to volunteering as they reach this stage of their life – not only can it help bring structure to your day, but it can be a rewarding experience as well!
Types of volunteering
The great thing about volunteering is that there are so many different ways to do it. You might want to help out at a local school or even a hospital – the choices are endless!
Volunteering can fall into any number of categories ranging from education to manual labour, community development to childcare.
If you have expertise in a certain area then why not put them to good use? Or if you've always wanted to work in a particular sector and never had the chance, now is the ideal time to start!
Finding volunteering placements
Think carefully about where your skills lie and where you're most likely to be able to put them to good use – write a list of places you might be interested in and start getting in contact.
Some places might openly seek volunteers – in which case have a look online or in a local paper for advertisements – whereas others may need to be approached directly.
Reasons to volunteer
Volunteering can be especially appealing to retirees for a number of reasons, not least because it helps give structure to the week once work has come to an end.
There is also the great feeling of giving something back – your time could make a real difference to your local community.
For many people, retirement is about trying new things and volunteering often allows this to happen – you could even find that you have hidden talents!
Fitting volunteering into your retirement plan
Although volunteering can be rewarding, it is important to make sure it fits into your wider retirement plan.
Remember that volunteering is about giving something back to the community and, as a retiree, maintaining some sort of social existence.
This doesn't mean that it has to take over your life – if you would rather restrict your hours then make that clear from the start, after all, you only get one chance at retirement!
ipac is one of Australia's largest financial advisory firms and has offices based across the country. A wholly-owned subsidiary of the AMP Group, ipac specialises in research and financial advice that helps clients lead happier, more fulfilling lives.