Image courtesy of Keith Cooper
Image courtesy of Keith Cooper

Retirement planning can get quite annoying and frustrating, particularly if you think that you do not have enough money to put away for your retirement. This can lead to you ending up retired with a very small income. You may be lucky enough to have a state pension and maybe even some money from work or private pensions but it may not be enough to keep you in the same standard of living than you are used to. Although many people think that this is to be expected and people can easily manage on less in their retirement, it does not have to be that way. It can be more enjoyable if you have more money so you can have holidays, treat your family and do not have to worry about money. There are different ways that you can achieve this, even if you have reached retirement without having a big enough income to be happy.

Some people choose to keep working. This not only means that they can continue to have the income that they want but they will also continue to stimulate their brain, which they may enjoy and have the social contact which most people do when they are working. This can help you to stay feeling younger for longer. You could work just part time if you have some pensions, so you have the same income but for working less hours, which could allow you to start slowing down and having more leisure time. This could mean continuing with your current job, but some choose to take on a different type of job. You might want something which will be more relaxing or your mind, perhaps delivering leaflets or newspapers or dog walking  or perhaps something that allows you to sit down more than your current job, like office work.

Another approach is to take on freelance work. Then you can pick and choose jobs when you want them and you are not tied down to specific hours or days to work. This could fit better around holidays and family commitments but of course there is no guarantee of any income and it is not regular.

If you have spare rooms in your home then you could rent them out and get income that way. You could offer a bed and breakfast service or just take in a lodger. This could increase your income in a simple way and there are plenty of places that you can advertise as well, so you should be able to find customers fairly easily.

Some people decide to start a business when they retire. This can take a lot of time, which may be why they wait as they have more time than when they are working full time. There are many possibilities and you can find something that will fit into your skill set and that you will enjoy. Once set up, you should find that it can take less time and then you can fit it around everything else in your life.