Although it might seem like money will bring you happiness in your retirement as you struggle to save money, it won’t do so in itself. Much like the question of whether or not money can buy happiness, there are a number of other factors that play a part besides money itself. Not to get the wrong impression, having plenty of money for retirement is not going to hurt your happiness, but you need more than just money according to a growing body of research on retirement satisfaction detailed at money.com. The article points to the following aspects you need beyond money itself to make your retirement happy:
Create a steady income – Those retired that receive a monthly check through pensions, 401k or other income generating assets are happier than those who don’t.
Keep active — to a point – Those that do a variety of activities enjoy retirement more, but make sure the activities aren’t similar to work. “People who worked because they needed the income, rather than for enjoyment, actually felt less satisfied about their retirement.”
Try to control your exit – You’re more likely to be happy in retirement if you choose to retire rather than being forced to retire.
These seems like pretty common sense steps to take and having them before retirement would seem to benefit you while you’re working also. Creating a steady 2nd income, keeping active outside of work and taking control of your life are things you should be doing well before retirement comes. It is a good reminder, however, not to obsess or focus exclusively on money when looking at retirement. Don’t forget to indulge yourself in the activities and dreams for which you’re saving the money.