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What Women Need In Retirement

What Women Need In Retirement

Staying busy working day in and day out can sometimes make it hard to look ahead to the future. Have you been properly preparing for retirement? When thinking about this topic, most of us just consider the financial aspects of it. But it’s also important to prepare for the emotional and psychological changes that happen in retirement.

Retirement isn’t just about having enough money in the bank to quit work. Yes, you need a stream of income you can’t outlive, but it’s also about more than that. Retirement is a time to take adventures, find yourself, and begin a new chapter in life (a chapter that could last 20-30 years).

Not all retirements are created equal, so let’s take a look at three things women need for a happy retirement.

1. A Structured Schedule
Most of your life you’ve stuck to some type of schedule. You planned your days out in grade school, in college, and then throughout your working years. Retirement is arguably the only time in your life when you have no structure at all. The calendar is completely blank, and you’re free to plan out your days how you wish.

This newfound freedom is fun at first, but a lack of structure can lead to restlessness. The days turn into weeks, weeks turn into months, and before you know it, you don’t know where the time has gone.

To help with this aimlessness, keep some type of schedule when you retire. You don’t have to plan out every second of every day, but implement some routines to keep yourself from getting bored.

Want to stay healthy in retirement? Sign up for workout classes a few times a week. Want to keep in touch with friends? Schedule a weekly lunch date. Want to pick up a new hobby? Dedicate a specific block of time to it. Create a schedule you can look forward to.

2. A Sense Of Purpose
For most of us, we find our purpose in our careers. Our work is ingrained in our identity and it’s hard to find new passions once we retire. So, what will your purpose be in retirement? How will you stay engaged and content?

According to a recent retirement survey, 76% of retirees who engage in 10 or more activities are very satisfied in retirement, compared to only 52% for those engaged in 1-4 activities. (1) Some activities that give retirees a new sense of purpose include:

  • Spending time with family
  • Socializing with friends on a regular basis
  • Gardening and improving the home
  • Traveling
  • Volunteering
  • Joining a club or organization

And don’t think it’s too late to find your life’s passion. A recent study found that people with a sense of purpose have a 15 percent lower risk of death compared to those who are aimless. (2) The study also found that it doesn’t matter when you find your direction. Even if you’re in your 70s, it still leads to a longer life.

3. A Strong Community
Last but not least, surround yourself with people you love. Studies show that 62% of women miss their daily interactions with colleagues after they retire. (3) If you stop and think about it, this makes sense. Women spend the better part of their lives connecting and building relationships in the workplace. Once retired, it can be difficult to replace this type of connection.

The good news is, engaging in the activities listed in #2 (spending time with family, volunteering, joining a club, and so on) is a great way to stay connected and add meaning to your life.

Let Us Help You
If you’re feeling uncertain as you prepare for retirement, you don’t have to walk this journey alone. Let us at Wealth Management Solutions, LLC be your guide, and we’ll start taking steps today to make sure you’re financially, emotionally, and psychologically prepared. Schedule a complimentary consultation to see if we are the right fit to help you secure your financial future and plan for a happy, worry-free retirement. Contact us by calling (949) 475-9700 or emailing info@wms-llc.com today!

About Richard
Richard Riva, the founding partner of Wealth Management Solutions, helps families advance their purpose in the framework of family financial matters. He brings comprehensive experience in banking, trust and investment services, and as an independent financial business, the passion in helping people and families, as a trusted advisor.

All investing involves risk including loss of principal. No strategy assures success or protects against loss.

The opinions voiced in this material are for general information only and are not intended to provide specific investment advice or recommendations for any individual.


(1) https://www.tiaa.org/public/about-tiaa/news-press/press-releases/pressrelease641.html 

(2) https://www.npr.org/sections/health-shots/2014/07/28/334447274/people-who-feel-they-have-a-purpose-in-life-live-longer 

(3) https://www.dailymail.co.uk/news/article-2328725/Why-women-struggle-men-life-retirement-80-feel-purpose-life-quitting-work.html



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