Now that is very much a question being asked by some of my girlfriends.

One has reached retirement age, but can’t quite pluck up the courage to step off the treadmill of work.

The Bestie has a significant birthday next year, but still enjoys her job, so may hang on in there a bit longer.

Another wonders what she’ll do with her time if she’s not working.

Another has just taken the plunge early and is loving life. (Good girl 😘)

And lastly the baby of the pack, who’s 10 years younger than me, has a firm plan and is working towards taking the leap in just over 4 years.

I’m sure you know my answer to each of them “Come on over and join in the fun”

There are probably two main concerns about retirement:-

1. How far will the pennies stretch?
2. How will I fill my days?

Everyone worries about whether they will have enough money in retirement, it’s a natural concern. The hubby & I pondered for several months, getting lots of predictions from our company pension providers.  I would say, it’s all about planning. We were lucky we both received lump sums from our company pensions, but we had also been saving hard for a good few years.

The old adage is right, money doesn’t bring you happiness, but it does help you to be able to enjoy life.  Your planning  also needs to include the costs of things you might like to do, like holidays, eating out and repairs to the house.

Major outgoings are the house 🏡 and especially at the moment utility bills 😳. If you are in a position at retirement to clear your mortgage that is one of the main outgoings gone. My personal experience has shown me that provided your monthly income can cover the utility bills and of course feed you for the month, the rest of life can, if needs be, be enjoyed on a shoestring.

Budget:  I am and always have been a big believer in budgeting. In the old days where we all used cash, once the monthly outgoings had been accounted for, I used little jars to put a bit of cash away each month towards birthdays, Christmas, holidays and treats. These days I use a savings account and a spread sheet 😂.

Frugal: I’m quite frugal with shopping. Every week I scour the freezer, fridge and cupboards to see what I already have in and what meals I can make. Then I make a list of meals for the week before writing my shopping list. I always go armed with my list and try not to deviate from it and am not tempted by BOGOFF prices unless that item was on my list. Needing two trolleys for our large household shop, I have to keep an eagle eye on the hubby to ensure he’s not adding extras to his one 👀

Utilities: There’s not much you can do about some utilities but I try to conserve energy, by ensuring the washing machine and dishwasher are full to capacity before putting them on and only use the drier when essential. I am constantly changing the timer on heating both the house and the water and annoyingly to the rest of the household switching lights and televisions off that are entertaining themselves. (Don’t get up to make a cup of tea and leave the telly unattended in our house, or you might come back to find its been switched off 🤣)

Cooking: I cook the majority of our meals from scratch. (Well I have plenty of time ) Not only is it healthier, as you know what’s going in it, I find it also works out cheaper. There’s often left overs to be frozen for lunches for the workers in the household too.

So now we’ve looked after the pennies the pounds will take care of themselves and we can start enjoying retired life.

Free entertainment:

1. Check out the museums in the area. They almost always have free entry and exhibitions change on a regular basis so you can visit often throughout the year.
2. Go for walks with your partner and/or mates. Take a flask of tea and a picnic in your backpack. We have discovered so many local walks and sights during the pandemic.
3. Invite your friends round for a cuppa and a slice of home made cake or even a glass of wine. I’m sure they will reciprocate, so it can be a regular date in your diary.
4. On rainy days you can exercise at home. I’m fortunate to have exercise equipment in my garage, but there are classes online which are free to use.
5. For chill out days, join the library or download free books to your kindle, put your feet up and drift off into another world.
6. If like me you enjoy a jigsaw, find a space for your puzzle and get engrossed. Once completed you can swap around with other like minded mates.
7. Volunteer. It’s not entertainment per se, but could be rewarding. I have a friend who volunteers in our local hospice shop which she enjoys and has made some new friends through doing so.

Cheaper Entertainment:

1. During term time Odeon Cinemas offer a Silver Screening once a week. The films are usually 3 – 4 months after their release date, but at £3.50 to include a cup of tea and a couple of biscuits, what’s not to like.
2. Find local cafes that offer “senior meals”. Lots do. They are smaller portions, but also at a smaller price so you can enjoy lunch out with your partner or your friends.
3. Although the initial cost seems high, it’s worth investing in a membership, such as National Trust or English Heritage. We have been lucky to have been gifted a membership but have gratefully enjoyed lots of days out where the only cost has been the fuel to get to places.
4. Gardening can be expensive if you buy all your plants ready grown, but it’s very rewarding growing plants and vegetables from seed. It’s also good exercise mowing that lawn and weeding those beds and once the work is done lovely to sit back and enjoy the fruits of your labour.
5. If you’d rather visit gardens then Gardeners World magazine offers an annual 2 for 1 card giving you half price entrance to gardens all over the country. It’s well worth the cost of the magazine.
6. Get out on your bike, if you have one. They aren’t necessarily cheap to buy, but can give you years of service once purchased.
7. Enjoy midweek and matinee theatre shows they are invariably priced a lot cheaper than evening and weekend shows. If you’re not constrained by work commitments there are apps which alert you to reduced price tickets too.
8. Lots of places offer senior discounts, or extra points on loyalty cards, often for the over 60’s. If it’s not advertised ask. The worse that can happen is they say no!
9. Come dine with me. If eating out is too expensive an option, invite your friends round and each prepare a different course. It’s a great way of keeping in touch and keeping costs down.
10. Lots of pubs and in our case the local pier have free music nights. All you have to pay for is your beer, but the contents of your purse can determine how many you have.

You’ll be surprised how much is going on in your local area, lots of which is advertised online. Seek and you shall find.

Therefore I say, not only to my friends, but to anyone teetering on the edge of retirement, first get your financial plan in order. Even on a tight budget there’s plenty to see and do. All you need, is to do a bit of research for your area, have friends with similar interests and if you’ve no money left in your purse at the end of the month, a pair of legs and a flask.

So step off that treadmill and come on over to enjoy the fun. We are almost five years in and have not spent one day looking back with any regrets.