Retirement Fun: What to Spend that Leftover Cash On

You have worked all of your life to save money, and now you have leftover cash in your retirement account. There are some fun things you can do with that money like vacations and dinners, or you can make a few improvements in life for fun that will last longer. 

Vacation Time

Instead of getting up early for work every morning, why not get up early to see the sun rise over the ocean, or take a walk along a mountain trail? Use some of the money you have leftover on a dream vacation. This could be a cruise, a trip to a mountain lodge, or a vacation to a beach to walk along the sandy coast. You will have plenty of time to enjoy your vacation as you don't have to worry about getting back home. Take the time to enjoy a good meal you wouldn't normally have at home, or go shopping for souvenirs to remember the trip. Retirement is the time to live out the dreams you’ve had all your life.

Learn a Little

If you want to stay at home instead of traveling, then consider adding an area in the home where you can read in comfort. Add a comfortable chair and bookcase to hold all your books. Learn about something you are interested in, but never had the time to read about. This could be anything from how to plant a garden, to reading about your favorite musician. You can also take a class at a community college to learn a skill you can use for a part-time job or hobby. 

Home Renovations

Now is the time to make your home look how you’ve always wanted. Add a new room for guests or put in that deck you’ve dreamed about. A Nanaimo custom home builder can give you ideas on ways to use a new room or how to update an existing room so it becomes more functional. Some home renovations in Nanimo might include new carpet, or new cabinets in the kitchen. 

New Adventures

Instead of sitting on the front porch swinging every afternoon, get out and enjoy life by going on an adventure you have always thought about. Take a hot air balloon ride over the city, or explore the Grand Canyon. Take a tour bus ride to a fun destination like Niagara Falls. Try kayaking down a relaxing river, or hiking up a mountain. The adventures are endless, and you can choose how often you want to go, or if you want to go with friends. Some adventures cost little to no money so you can save retirement funds for other fun activities or necessities. 

Become a Collector

Fill your home with stuff you like, and never had the time to collect while you were working. Put your efforts into collecting things you know you will cherish. Find something that holds a special place in your heart, such as precious stones, or American flags. If you have never collected anything, then go to a flea market or specialty store to see what your options are, before making an investment in something that will only clutter the home. 

Invest in Family

One of the best things that you can do is invest in family. Start a savings account so family members will have something to divide after you pass away. Create memories by taking everyone on a vacation, or get a family portrait made so you can have a special keepsake for the rest of your life.

You only have one life to live, and after you have worked through most of it, there are things you can do with retirement money that will make your later years more memorable. Whether it's adding a new room or simply taking a short vacation, do something that will make you happy.

4 Challenges to Take on After Retirement

retirement (Photo credit: 401(K) 2013)

You're finally there! You've been working tirelessly for decades, at a nine to five job, because you had to. Now it's time to retire and you can finally do what you've always wanted to do. Take a look at these four challenging things you can have fun doing in retirement.

Travel the World

There's no better time than retirement to travel the world because you don't have to worry about being back on a certain date to get back to work. You finally get the opportunity to see all the places you want to see, whether that is a trip to Egypt, Africa, Europe, or the Caribbean. Depending on how well you saved money for retirement, you can travel for most of the year. 

• Go on a cruise 
• Take a tour with a travel group 
• Take a road trip with several stops 
• Visit every state or every continent 

Take Some Classes

Learning doesn't have to stop just because you've reached retirement. As a matter of fact, it is one of the best times to learn because you can devote your full attention to learning something. Is there something you always wished you could do? Well, take a look at the classes at your community college or find other opportunities in your area to take classes. 

• Learn to decorate cakes 
• Learn how to be a good photographer 
• Get that degree you've always wanted 
• Learn some new dance moves 

Start a Business

Are you one of those people that will never truly retire? If you like to work and want to be your own boss, starting a business in your retirement will help you continue to stay busy. Plus, it will help you out financially if you didn't start saving for retirement early enough. According to Entrepreneurship Monitor, 18 percent of startups are made by people who are 55 or older and 7.9 percent are 65 or older. That's no surprise since older people have more business experience and know what it takes to be successful. The best businesses for retirement are those that are fun and rewarding. 

• Start a restaurant with gen2 cooking equipment
• Tutor children 
• Become a travel agent 
• Provide consulting services with your years of expertise 

Spend Time on a Hobby

Some people never have the time to learn a hobby until they retire. There just isn't enough time in the day to go to work, take care of your kids, and handle all your other responsibilities. So, retirement is a great time to learn a hobby because you are finally able to stay at home. The best hobbies are those that keep your mind active. 

• Start a blog 
• Learn how to paint 
• Sew or knit for your grandkids 
• Start a collection 

These are just a few of the challenges you can take on after you retire from your job. There are many more things you can do, too. What do you want to accomplish in retirement? Leave a comment.