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5 Things to Do Within Your First 5 Years of Retirement

Jun 20, 2017 12:43:32 PM

shutterstock_519818962.jpgYou may be reaching the end of your run as the leader of your veterinarian practice, but that does not mean you have to slow down. Retirement planning is something that should be embraced, not because it means you no longer have to work each day, but instead because of all of the new opportunities that it opens up.

Start a New Hobby

One of the best things that you can do within five years of retirement is to start a new hobby. Many people have hobbies before starting careers as a veterinarian or dentist. When you are in the middle of trying to grow your practice, though, you can quickly lose sight of those little things that used to keep your mind busy.

Build Upon Friendships

Spend some time to rekindle all of the relationships that you used to have, or still have. Give your friends the attention that you did not have the time to give while you were working full-time. Even spending time with your significant other and your children in new ways can be incredibly rewarding.

Figure Out the Ideal Budget

You want to take some time to do retirement planning from a budgeting perspective early on. See what it's like to live off of your retirement planning income right away so that you can begin to adjust accordingly. The last thing that you want to do is to find yourself in debt shortly into retirement because income is not where it used to be. As long as you have the savings, you are in good shape, but just make sure the retirement income is sufficient so you can keep up your quality of life.

Travel to a New Location

One of the great things about retirement is the ability for you to get out there in the world and test out new things. Travel to a new location, somewhere that you have never been before. Maybe you have always wanted to see Japan or Hawaii, or even the neighboring town. This is the chance for you to explore, so embrace it and take advantage.

Purchase a Vacation Home

Ever dreamed of having that perfect holiday escape where you could go just to get away from it all? Within your first five years of retirement, see if you can find that vacation home and make that purchase early. Once you have the home locked in, you will be ready to enjoy it as soon as retirement kicks off.

Plan for your future, starting today. As a veterinarian nearing, or already in, retirement planning mode, it is time to make moves. Embrace the free time you are going to have, try out everything listed above and much more. This is your time, and you have earned it, so make retirement everything that it should be; make it your chance to be free again and do the things you haven't been able to.

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