Embracing early retirement

Early retirement offers a wonderful opportunity to shift your focus from a demanding 40+ hour work week to enjoying your personal life. This new chapter allows you to invest more time in your family, friends, health, travel and other passions. While the excitement of managing your own time is thrilling, it does require thoughtful planning.

Adjusting to retirement

Transitioning from a busy work life to retirement can be an adjustment. You might miss the daily interactions with co-workers, the small talk by the water cooler and the constant flow of new projects and tasks.

Explore new interests

Retirement is the perfect time to try new things. Consider picking up a new hobby or investing more time in your relationships. Don't hesitate to take a dance or cooking class with your spouse or a friend. Start those projects you always postponed, like repainting a room to refresh your living space. This is also an ideal time to travel and visit the places you've always dreamed of.

Engaging in activities, projects, and spending time with friends and family can help prevent feelings of loneliness or boredom. There's so much ahead to look forward to!

Stay active

With more free time, you can prioritize your health. Incorporate regular exercise into your routine, whether it's walking, jogging or another activity you enjoy. Pay attention to your diet and consider reducing your caffeine intake now that you don't need it to power through a workday.

Financial planning

Your monthly income will likely change in retirement, so it's important to keep your finances in mind. Consulting with a financial advisor can help you navigate this transition and ensure you're prepared for the future. Remember, Social Security benefits typically aren't available until age 62, so plan accordingly.

To fully enjoy retirement, make sure you're financially prepared. Working with a professional can help you maintain financial comfort.

Health plan coverage

Health coverage is a crucial aspect of retirement planning. If you previously received health coverage through your employer, you'll need to explore new options until you qualify for Medicare at age 65.

From November 1 to January 15, you can enroll in an Individual health plan during the Open Enrollment Period. If you retire outside of this window, you qualify for a Special Enrollment Period, giving you 60 days to enroll in a plan.

If you plan to travel extensively during retirement, consider a travel health plan. These plans provide coverage outside of Michigan and within the United States, ensuring you can travel with peace of mind.

For those looking to explore new health plan options, Priority Health offers a variety of Individual plan options tailored to your needs in this new phase of life.