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Retirement is the perfect time to expand your horizons and explore your passions. Without the burden of work, you’re free to explore your own passions and hobbies like writing, painting, travel, or woodworking.
A well-planned budget can help your retirement dreams come true. Financial security in retirement gives you the freedom to do whatever you want, whenever you want to do it.
Some forward planning can help you save a few dollars, too. This will free up funds for exciting adventures in retirement like travel, opening your own workshop, or moving to a new state.
Retirement is a time for travel and exploration. You’ve worked hard and can reap the rewards of all that modern life has to offer. However, some destinations can be pricey. For example, a vacation in London will set you back an average of $370 per day — that’s before accounting for expenses like flights and international travel.
If you have a passion for travel but want to see the world on a budget, consider low-cost destinations like:
Vacationing in these destinations can cost under $1,000. Destinations like Lisbon and Granada have great travel links, too, meaning you can hop on a train and be in a new country within hours.
If you’re tech-savvy, you may want to pursue a new form of travel: virtual tourism. Virtual tourism in the metaverse is a great way to see the world from the comfort of your own home. You can even visit Pompeii of the past using VR goggles or go on personalized, immersive tours of the Vatican. You’ll need to buy or rent a headset first, but the outlay is minimal compared to flights, hotels, and currency conversion.
Retirement is an invitation to embrace a new, slower way of life. You don’t have to hustle at all hours of the day and you probably don’t need to take care of energetic young children. This may mean that your family home starts to feel a little too large for your current needs. There’s nothing wrong with downsizing your home and doing so can free up some capital to pursue your interests.
Make a clear moving budget before you decide to downsize your home. Start decluttering early and donate items you no longer want to local charities. Create a moving budget during this time and be sure to list services like movers, storage fees, and travel costs.
Assess the costs and challenges associated with a smaller space before you move in. It may cost less to run a smaller home, but what about unexpected costs like travel to see family and access to affordable healthcare providers? A smaller home should help you save for healthcare in retirement; it shouldn’t be a burden that derails your financial plan. Look for local community events, too, as you’ll want to meet new people and create a connection before you move.
You may not have had time to connect with your community during your career. However, as a retiree, your contribution to the community can make a meaningful difference to those around you. Connecting with community events is a budget-friendly way to meet new people and rediscover your purpose, too.
If your community is lacking engaging events, consider starting a community garden. Community gardens are ideal for retirees as you can meet in a safe space while enjoying the health benefits of being outside. Grow plants that are suited to your climate and USDA plant hardiness zone. If you’re new to growing plants, lean on your neighbors and allow them to show you the ropes.
If you don’t have a keen green thumb, consider joining a book club in your area. Book clubs support your brain health and help you make new friends. You’ll encounter some new opinions while reading popular titles today. This will help you step out of your comfort zone and gain new knowledge about the world around you.
Travel and moving are only possible if you understand your income. Before you book flights or start a community garden, you need to know how much retirement income you will earn later in life.
Most estimates suggest that you need to earn 80% of your pre-retirement income after your retirement. Most people receive retirement income from three sources:
These sources should give you a personal bottom line to work with. Work with a financial advisor to help close the retirement income gap and choose between 401(k) plans. Forward planning can help you live a fulfilling life even as you enter your later years.
Retirement can be surprisingly costly. However, with a clear financial plan, you can still see the world and pursue new hobbies. Consider cost-effective options like virtual tourism and community engagement events. Alternatively, you can start low-cost book clubs or downsize to free up some capital for use in later life.
AltaVita Senior Residences is a dream come to fulfillment for the Macy Family. The longtime Longmont locals desired a way to give back to the community in which they grew up. And what better way to deliver on that commitment than to provide a multigenerational housing opportunity for Colorado families: three levels of continuing senior care on one campus in an unmatched, upscale environment. Filling a niche for older folks who want a place to call home for years to come, AltaVita has thought of every lifestyle element that seniors desire and deserve in an adult living community. Here a foundation for a brighter future is built on a unifying philosophy: Always put the resident first. This means providing for all aspects of the aging process 24 hours a day, 365 days a year. People are living longer and healthier lifestyles, and theyre remaining active, says Linda Berens, the campus Executive Director. Because of that many are looking for a multi-tiered campus offering continuing care within the familiar lifestyle. From involving family members in each residents life to creating a secure residence for those with advanced memory-related illnesses, AltaVitas well-designed campus and comprehensive services are built from the ground up to address and enhance every moment of daily living. One AltaVita residents family member said it best recently: I cant truly convey the appreciation I have for all that you have done. You have all been such a blessing to my mom and our family. The AltaVita team holds one another to a higher standard, which honors the important work they do, assisting the people who need them most. Enrich and enhance the lives of everyone we serve with respect and excellence: the AltaVita mission is confirmed daily by all the smiling faces. Three levels of care on one campus AltaVitas Longmont campus consists of the Memory Care Community, which opened in 2012; the Assisted Living Community, which followed in 2016; and the Independent Senior Living Community, which opened in June 2019. By building the community in three phases, planners have been able to thoughtfully design each building with residents in mind, taking into consideration the type of care they need and the amenities that will best suit them, explains Don Macy, owner.Memory Care Dr. Haleh Nekoorad-Long, M.D., a certified geriatric psychiatrist, is the medical director of AltaVita Senior Residences and works primarily with aging adults and issues regarding dementia, depression, and bipolar disorder. Recognized by the Alzheimers Association as a Leader in Dementia Care, the AltaVita Memory Care Centre is setting a new standard in Colorado for exceptional care for people with memory-related issues. AltaVita Memory Care Centre runs an adult day program, with respite services in suites specially designed for residents with Alzheimers and dementia. Additionally, care is customized for every residents level of dementia, ranging from acute medication management to the sense of freedom that comes with visiting AltaVitas beautiful garden patios and spacious, secure courtyard.Assisted Living With access to the same welcoming outdoor landscape, the AltaVita Assisted Living Community offers an upscale service focused intention. On the main level a great room welcomes visitors with a cozy fireplace, tavern, bistro and ice-cream parlor, and plentiful seating areas. The second floor overlooks the great room and features a large community room for varied activities as well as a comfortable lounge. Inclusive to the Assisted Living lifestyle are three meals every day, housekeeping and laundry services, social and recreational activities, 24-hour staffing, medical transportation, and emergency and nurse call systems. Independent Senior Living This is AltaVitas newest addition to the campus, a community for active adults who would like the enrichment of community life free of the responsibilities of home repairs. This maintenance-free lifestyle, including housekeeping, dining and transportation services, is designed to maximize that freedom and minimize those pesky daily duties. The new three-story building contains 84 stylish apartments with nine different floor-plan designs ranging from one bedroom, one bath to two bedrooms plus den and two baths. All include full kitchens, walk-in closets, large showers, washers and dryers, and private patios. The independent lifestyle program includes top-notch services and amenities like a full-service salon, fitness center, wellness programs, Tai chi classes, bistro and bar, housekeeping, and restaurant-style dining room. And when the outdoors beckons there is easy access to hiking, biking, and walking trails. On behalf of the family, we wish to extend our gratitude to such an excellent place for Vern to live, report family members of the experience of their loved one at AltaVita. The friendliness of the staff is beyond compare. We are very impressed with the quality and freshness of the food; the execution of meals; the presentation of such meals.Whole-life WellnessAltaVita believes one of the most important aspects of maintaining good mental and physical health among an aging population is lifestyle. And thats where AltaVita really shines. Supporting every part of the individual, AltaVita subscribes to Whole-Life Wellness. The methodology is envisioned to enhance residents health through seven critical aspects of wellness: social, emotional, spiritual, environmental, vocational, physical, and intellectual. For more information on AltaVitas progressive approach to maximizing the lifestyle of seniors, visit altavitaliving.com or call 888.745.8268 to schedule a free tour.
Located in the heart of Maple Grove, Garland Commons offers a brand-new, affordable living option for adults 55 and older. Opened in 2024, this thoughtfully designed community combines modern amenities, spacious floor plans, and a prime location to create the perfect home for active adults seeking comfort and convenience.Modern Apartments Designed for Your LifestyleGarland Commons features a variety of one- and two-bedroom floor plans, ensuring you can find the layout that meets your needs. Each apartment is designed with convenience and style in mind, offering:In-unit washer and dryerAvailable quartz countertopsWalk-in closetsPrivate balconiesFree underground heated parking, with electric vehicle charging stations availableAmenities to Enhance Your Everyday LifeGarland Commons boasts an impressive array of community amenities designed to foster social connection, relaxation, and entertainment:Fitness center for maintaining a healthy lifestyleLibrary with a fireplace, perfect for quiet readingGame room featuring a pool tableCommunity and activity rooms for gatherings and eventsSunroom for unwinding in natural lightOutdoor patio with grillsDog run for furry companionsA playground for visiting grandchildrenPrime Location in Maple GroveLocated at 9651 Garland Lane N, Garland Commons is surrounded by conveniences and attractions. Residents can enjoy walking to Walgreens, Walmart, Aldi, Culvers, and other restaurants and shops. With easy access to I-94, the entire Twin Cities metro area is within reach.Visit Garland Commons TodayManaged by Velair Property Management, Garland Commons is open seven days a week for tours. Call (763) 298-3113 to schedule your visit and see why this vibrant community is the perfect place to call home.If youre looking for a safe, modern, and affordable living option in Maple Grove, Garland Commons is ready to welcome you. Experience the perfect blend of comfort, convenience, and community today!
Saint Paul is set to welcome a new affordable housing option for seniors this fall. Opening in October 2024, Lofts on Rose offers a vibrant, 62+ community with a range of thoughtful amenities and beautifully designed spacesall at an affordable price. Located at 1180 Prosperity Ave, this modern development is tailored to provide comfort, convenience, and a sense of belonging.Floor Plans for Every LifestyleLofts on Rose features 10 unique floor plans, each named after streets in Saint Paul, ensuring a design that suits your individual needs. Whether you prefer a cozy layout or something more spacious, each unit is crafted with functionality and style in mind.Thoughtful Amenities Included in RentResidents will enjoy access to a variety of amenities that make day-to-day living enjoyable:A fitness center to keep active and healthy.A community room perfect for social gatherings.A family dining room for hosting loved ones.A sunroom where you can relax and soak up natural light.Prime Location for Convenience and LeisureSituated in a highly convenient neighborhood, Lofts on Rose offers easy access to grocery stores like Aldi and Cub Foods and is serviced by multiple bus lines. For those who love the outdoors, Lake Phalen and downtown Saint Paul are just minutes away, offering scenic beauty and urban excitement.Tour the Community TodayLofts on Rose is managed by Velair Property Management and is open for tours. Call (612) 416-7290 or visit during office hours (Monday through Friday, 8:30 AM to 4:30 PM) to schedule a visit and explore this exciting new community.With its modern design, convenient location, and affordable pricing, Lofts on Rose is poised to become one of Saint Pauls most desirable senior living communities. Dont miss the chance to make it your new home!
Bradford Square Retirement Community, located in Naples, Florida, is the perfect choice for seniors seeking worry-free living in a luxurious setting. As Naples's independent living leader for seniors, Bradford Square offers all-inclusive, 55-plus senior living with 24/7 service, resort-style dining, and beautiful accommodations. Our community is known for its breathtaking sunsets, choice shopping, beautiful beaches, and world-class golf, making it an ideal setting for our residents.At Bradford Square, we pride ourselves on providing a vibrant and engaging lifestyle for our residents. From our spacious floor plans to our exceptional amenities, every aspect of our community is designed to enhance the lives of those who call Bradford Square home. Our residents enjoy a wide range of activities and amenities, including games, travel, exercise, movies, and more. Our on-site dining options offer a variety of delicious meals, including a full lunch and dinner menu with a choice of two entrees, two soups, and a full salad bar.Interested in learning more about our luxury retirement community? Schedule a personal tour today to see for yourself why Bradford Square is the premier choice for independent senior living in Naples.