May 31, 2023 | 3 min read
Summary: Retirement can cause a range of emotions so it’s important to not only prepare yourself financially but also emotionally.
While most of us dream about retiring during our working years, it is a significant life event that can be challenging to adjust to.
Many people experience a loss of identity and purpose which can trigger stress, anxiety and depression.
In this article, we discuss how to remain physically and mentally well in retirement to ensure you have the best quality of life possible.
Retirement can cause a range of emotions so it’s important to prepare yourself emotionally as well as financially.
Here's some tips to go about this:
Regular exercise has many health benefits including reducing the risk of chronic diseases, such as heart disease, diabetes, and stroke.
In addition to the physical benefits, exercise is one of the best remedies for improving mental health - it stimulates endorphins which helps to reduce stress and anxiety.
Here’s some tips on how to remain physically active.
Staying mentally active is just as important as being physically active in retirement.
Regularly engaging in intellectual activities can help improve cognitive function, memory, and concentration. It can also help reduce the risk of dementia and Alzheimer's disease.
More importantly, it provides a sense of fulfillment and purpose. By engaging in new experiences, you can accomplish new challenges and continue to grow as a person.
Here’s some tips on how to remain mentally active in retirement.
Bottom line: retirement can be an exciting and fulfilling phase of life if you plan and prepare well. Taking care of your mental and physical wellbeing can help you find a new sense of purpose.
As one of the largest pension providers in Australia,* we know that growing and keeping your money safe is important. When it comes to support, we go the extra mile—providing general pension advice at no additional cost.
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This article has been prepared by NULIS Nominees (Australia) Limited ABN 80 008 515 633 AFSL 236465 (NULIS) as trustee of the MLC Super Fund ABN 70 732 426 024. NULIS is part of the Insignia Financial group of companies comprising Insignia Financial Ltd ABN 49 100 103 722 and its related bodies corporate (‘Insignia Financial Group’). The information in this article is current as at November 2023 and may be subject to change. This information may constitute general advice. The information in this article is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider obtaining independent advice before making any financial decisions based on this information. It is recommended that you consider the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD) before you make any decisions about your superannuation. You can obtain the latest copy of the PDS (or other disclosure documents) and TMD by calling us on 132 652 or by searching for the applicable product at mlc.com.au. You should not rely on this article to determine your personal tax obligations. Please consult a registered tax agent for this purpose. Opinions constitute our judgement at the time of issue. The case study examples (if any) provided in this article have been included for illustrative purposes only and should not be relied upon for decision making. Subject to terms implied by law and which cannot be excluded, neither NULIS nor any member of the Insignia Financial Group accept responsibility for any loss or liability incurred by you in respect of any error, omission or misrepresentation in the information in this communication.