Here are some things to consider
Early retirement allows you to shift your focus from a typical 40+ hour work week to your personal life. Retirement often means more time for you to invest in your family, friends, health, travel and so much more. While there is a lot of excitement around retirement and becoming the manager of your own time, it does require some thought and planning.
After spending most of your life working, retirement can take some getting used to. You are no longer surrounded by co-workers, making small talk by the water cooler, or consistently working on new projects and tasks.
Try new things
Consider picking up a new hobby and investing time in the relationships close to you. Don't be afraid to try new things, like taking a dance or cooking class with your spouse or a friend. Start on the projects you always said you would get to when you had more time, like repainting a room in your house to freshen up your space and welcome in this new season of life. Now is also a fantastic time to travel and see all the places you dreamt about visiting.
Activities, projects, friends and family will help keep you from experiencing the potential feelings of loneliness or boredom. There is so much ahead of you!
With all of your hours devoted to a job it can be hard to find the time to manage your health and fit in a consistent workout routine. In retirement, take advantage of the time given back to you and prioritize your health. Go on walks, pick up jogging, get active. Mind what you are eating (and maybe cut back on the caffeine you needed to get through a day at work.)
Look at your budget
When you retire, your monthly income will likely look different so don't forget to keep your finances in mind. You may want to consult with a financial advisor to help you navigate this change and prepare you for your future away from work. Social security benefits typically are not available until you turn 62 so keep that in mind while you plan.
To enjoy retirement to its fullest, make sure that you're well prepared financially. Often, working with someone to keep your finances in order is helpful to make sure you will be comfortable.
Get health plan coverage
When considering retirement, health plan coverage is something you will need to plan for. Many people receive health coverage through their employers; if this was you, it's time to consider what your best health coverage option is until you turn 65 and can receive coverage through Medicare.
Every year from Nov. 1 to Jan. 15 there is an Open Enrollment Period when you can enroll in an Individual health plan. If you retire during any other time of the year, you will qualify for a Special Enrollment Period. During a Special Enrollment Period, you have 60 days to enroll in an Individual health plan.
If you plan to spend a good portion of your retired life traveling, consider looking into a travel plan. These plans provide care outside of Michigan and within the United States so you can enjoy traveling with complete peace of mind.
If you are interested in shopping for a new health plan that best suits you and your new season of life Priority Health has many Individual plan options to explore.
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