Retirement can be an opportunity to enjoy life to the fullest and dedicate yourself to your passions and family. But, if you have not been careful in the past, maybe you will have to deal with expenses and unexpected events.

How To Achieve A Happy Retirement
How To Achieve A Happy Retirement Pixabay

If it is true that, as they say, "money does not buy happiness", it must be admitted that having a good and solid pension you can rely on is definitely an extra gear. As a matter of fact, there are a variety of financial strategies that could help you in living a happy retirement.

Do you want to find out what is the best solution for your needs? First, you need to know how much your pension will be and when you can leave your job: you can do it quickly and easily with some online tools, such as Moneyfarm pension calculator.

However, in addition to being able to count on a good nest egg, also doing pleasant activities and challenging yourself with new projects is a great way to really enjoy these retirement years. Now, you can have a plenty of leisure time, so you can choose to do things you love but didn't live for long before.

Here are some tips to help you enjoy your retirement to the fullest.

Choose a personal pension scheme

Many people want to achieve a financial security thorough their retirement, that is why a Self-Invested Personal Pension is a popular choice. Based on a monthly contribution, a personal pension scheme could be tailored to any needs, risk profile and goals.

Self-invested personal pensions are flexible solutions that may also provide tax benefits: for example, you can take a percentage of your total pension pot as a tax-free lump sum, or you can decide to enter an income drawdown, buy an annuity with your savings or choose a combination of both.

The good news is, you don't need a background in finance to invest in a personal pension scheme: if you don't feel sure to do all by yourself, you may decide to rely on a professional, whose expertise can help you to identify what is the best solution for your needs.

Pay off mortgages and loans

Paying a mortgage is a burdensome commitment for everyone, from the economic point of view, even if the interest rates are low, and a fixed thought that weighs on the psychological aspect. In order to enjoy happy retired years, try to extinguish mortgages and loans within five years of retirement. For example, you can make extra payments to cut off the life of the loan, such as paying two instalments every two weeks instead of once a month, if you can afford it. Paying off your fixed expenses before retirement may help you to build a nest egg for when you stop working

Stay active and fit

In addition to the financial aspect, it is also important to take care of your well-being. Go for a health check before starting a physical activity. Even if you have never been a sportsman, you can start now, choosing activities such as walking, swimming, or cycling. Outdoor sport activities can also contribute to boost your mood and have a high energy level.

It is also important to have "a healthy mind in a healthy body" so don't forget to keep your brain active: use your free time to learn how to play an instrument, a new language or study to getting a qualification. To keep motivation high over time, create your own personal routine.

Challenge yourself on a new project

Whether it's a hobby, like gardening, or you prefer to travel around the world or volunteering, or to create something with your own hands, just go for it.

Trying something different can add a new zest for life and can be very stimulating for your mind. So, you may consider to start a cooking class or any other type of class related to your passions. This may be a great way to challenge yourself on new activities and to learn more about them too.