Archway Financial Solutions

Call Us: 01425 600616

  • Home
  • About
    • Our People
    • Our Values
  • What We Do
    • Protection
    • Pensions
    • Investments
    • Mortgages
    • Equity Release
  • Blog
    • ç
    • Thriving During Adversity
    • Finding a Hobby in Retirement
    • Navigating Life’s Transitions by Rewriting Your Story
    • Retiring in a Pandemic
    • Build Your Family Bucket List
    • 4 steps to thrive during and after the Pandemic
  • Contact
    • Cookie Policy
    • Privacy Policy
  • Useful links

July 20, 2020

Retiring in a Pandemic

Retiring in a PandemicCovid-19 has recalibrated retirement planning for older workers. Age, health, and workplace conditions have pushed many seniors to put their well-being ahead of other considerations and retire early. But the pandemic has also added to the normal stress that comes with leaving the workforce. Social distancing and other public health recommendations are making it harder for retirees to stay active and create new schedules that will make retirement fulfilling.

Here are three ways you can navigate the retirement transition safely during Covid-19 while still connecting with people, enriching yourself, and having fun.

  1. Be together separately

Although we’re still learning new things about Covid-19 every day, some consensus has emerged on how to interact safely with people you’re not living with: stay outside; main a minimum one metre distance; wear a face mask; wash your hands thoroughly and often.

So, while meeting other couples at restaurants probably isn’t a great idea right now, it’s possible to have garden get togethers. For an extra layer of safety, have everyone bring their own food and drinks.

Outdoor sports are another option, especially activities like bike rides and hikes where everyone keeps moving and can maintain their distance. And though most public health experts advise against sports that require sharing equipment, games like golf and tennis can be played safely if everyone brings their own gear.

The pandemic is affecting communities across the country in very different ways. But wherever you live, exposure to Covid-19 is a high risk for seniors, especially if you have any preexisting medical conditions. Please review guidelines from your local health officials and talk to your doctor if you’re considering activities with people outside your household.

  1. Make new online connections

The new tech skills you learned while coping with lockdown open a world of virtual options in retirement.

By now you’ve probably mastered video chat, but many of the same apps you’ve been using also allow you to watch movies and play games with friends and family.

If you picked up a new interest from all the free quarantine classes on social media, you could pursue that subject with more formal online learning. Dedicated online education platforms are plentiful; your local university or community college might have new online programs as well. Plus, colleges and universities often offer discounted enrolment to seniors.

The pandemic forced organisations of all shapes and sizes to restructure and move at least some of their operations online. If you’re comfortable with your computer, you might actually have more part-time job or volunteer opportunities available to you right now. And as more people do more business online, you might spot an ideal niche to plant your own flag and start your own dream company, all from the comfort of home.

  1. Review your retirement plan

If you’re a current client, the plan we’ve worked on together is built so that we can make adjustments as your needs and goals evolve. Early retirement is a significant change. We’ll need to review your retirement budget and projected annual withdrawal rate. We’ll need to discuss if early retirement is going to change your living arrangements. We’ll need to review your estate planning needs and go over any potential changes with your solicitor and accountant.

In short, we’ll need to talk. But the work you’ve put into following your plan and growing your nest egg means that you have options. We’re excited to help you chart the best path forward and start the next chapter of your life.

Article by Michelle / Financial News

logo4web4
Call 01425 600616 to arrange your introductory chat or email us

Your Rights

Archway Financial Solutions LLP

Registered in the UK No. OC316476

Registered Address: 3 Pine Close, Ferndown, Dorset, BH22 9QX

We are entered on the Financial Services Register No 448076 at https://register.fca.org.uk/.

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK

Should you have cause to complain, and you are not satisfied with our response to your the complaint you may be able to refer it to the Financial Ombudsman Service, which can be contacted as follows
V9.0 (2018)
​

You Should Know

Authorised and regulated by the Financial Conduct Authority.

Contact Us

17 Headlands Business Park
Salisbury Road
Ringwood
Hampshire
BH24 3PB

T: 01425 600616 (All calls to and from our landlines and mobiles are recorded to meet regulatory requirements)
or
Email Us

Find Us Here

  • Facebook
  • LinkedIn
  • Twitter

Copyright © 2021 — Archway Financial Solutions • All rights reserved. • Privacy Policy •