Change Text Size
10 Cool Ways to Spend Your Money in Retirement

You’ve worked for it, now it’s time to spend it! While there’s plenty to be said for using your money wisely in retirement, sometimes it’s wise to have some fun with it. Without work to dictate your schedule and reduced obligations to tie up your income, retirement is the perfect time to explore the things you didn’t have a chance to before. Not sure where to start? Try these ideas for cool ways to spend your money in retirement:

  1. Get in Shape with a Personal Trainer: Exercise isn’t just about looking good, it’s about being healthier and helping yourself do more of the things you love. With the right training, you can slow or even reverse muscle loss which is ideal for easing some of the physical issues we experience as we age and keeping us fit and independent for longer.
  2. Update and Use Technology: Technology is about a lot more than being able to send a text or email. Keeping up to date with your tech can help keep you connected with the world at large and help you relate to younger generations. There are also a multitude of services you can access online that will make your life easier and better such as grocery delivery, subscription services and online social groups. Seniors can even benefit on a cognitive and social level with video games that are great for seniors.
  3. Get Creative with Travel: While taking a senior cruise is certainly a relaxing way to appease your wanderlust, you can take a less traditional and more exciting route by booking a stay in an Airbnb location. By staying in a home or apartment while you travel, you can experience destinations like a local and get a true feel for a city. There are many cities close to home that may also be just right for you, like these most exciting cities in North Carolina.
  4. Take the Classes You Always Wanted To: Whether you want to get a complete degree and start a new career or if you simply want to learn a new craft, taking classes in retirement is an awesome way to stay active mentally while expanding your horizons.
  5. Invest in Your Own Island: This one probably sounds pretty out there, but actually a private island isn’t as expensive as you might assume, nor are they that hard to come by. With around a thousand coming up for sale annually and some priced at $100,000 or less, an island is in reach for many who want to buy.
  6. Make your Passion a Business: Not the type for travel or buy pricey things? You can use your capital to start a business geared towards your passions. Start a cafe for tea lovers, import and sell fine cheeses, design clothes for dolls or restore antiques. Without the pressures of having to turn a profit, you’re free do follow any business idea your heart desires. Alternately, you can also invest in a business you are passionate about. Choose an upstart restaurant or bar you like and have a permanently reserved seat!
  7. Learn an Instrument: Now that you have both the time and money, you can take the opportunity to not only learn an instrument but learn it on an awesome one. This can be anything from a vintage Stratocaster or a grand piano to just a really neat ukulele.
  8. Visit Old Friends: Maybe your interest in far and foreign places isn’t that great, but that doesn’t mean you shouldn’t still travel. You can, instead, plan trips around seeing old friends and reconnecting with loved ones who live in other cities and states. Not only is this a good way to spend your money, it can be revitalizing to you mentally and physically…and to the people you visit!
  9. Host a Private Concert: While current chart toppers might be a bit out of reach financially, many of the acts you know and love from the past are surprisingly affordable to book. For example, March Cohn is only around $10,000-15,000
  10. Move into a Life Plan Community: Unlike the retirement homes you may be envisioning, a life plan community is a place for active retirees who are interested in thoroughly enjoying life. Often equipped with such amenities as gourmet dining, recreational centers and premium medical care options, life plan communities allow you to downsize your living space without giving up quality or comfort.

To learn more about life plan communities and living your best retirement life, contact the Cedars of Chapel Hill. A premiere life plan community in beautiful North Carolina, the Cedars comes with everything you need to enjoy a stress-free and inspired retirement.

Photo Attribute: Jonathan M, FreeImages.com