Planning Points: ‘Owning’ your schedule in retirement

When you become a new retiree, staring at the wide-open schedule where work used to be, time may seem so abundant that you forget just how valuable it really is.

And if you treat retirement like an ongoing weekend, you may be surprised in a month, year, or longer that you don't feel as fulfilled as you had hoped. All those hours without a purpose or passion might suddenly feel like a precious resource you've wasted.

Using your time productively is a skill that will only become more important as you progress in retirement. Here are some ideas that may help you manage your days with a sense of purpose and contentment.

Create a new daily routine

You're going to love those first few days without an alarm clock rushing you toward your workday. But those days could easily start lumping together and fall into a repetitive slump without structure and purpose.

Your new retirement routine doesn't have to be as rigid as your old working one. The goal should be to create a flexible routine that gives you time for a variety of activities, both alone and with the people you care about.

Start by adding some simple activities, like a morning walk with your dog or an afternoon cup of coffee with another retiree.

Then block off time for your favorite hobbies or passions, like a weekly (or daily, in my case) round of golf or a regular trip to the library.

As your schedule starts to fill up, you'll gain a clearer perspective on how much time you have, how you're using it and how to use it better.

Prioritize your passions

When you were working and raising a family, it's likely that you had to put your hobbies and interests to the side as you focused on other responsibilities. In retirement, you can give those passions a more prominent place on your schedule.

Take the time to improve yourself in any number of ways, whether that is taking classes or lessons in areas where you have an interest. Devote more time to your favorite craft and turn hobbies into real skills.

Take weekly volunteer positions with organizations that are making a difference in your community. Start scheduling all the bucket list trips you've delayed over the years.

Or develop that business idea you have been thinking about for your whole career that may not feel like a “job.”

Develop your relationships

The more people you share your time with in retirement, the more rewarding your retirement will be.

Set aside time in your new schedule to expand your connections of friends and others that may share your interests. Call up retired friends and your old colleagues and schedule some time to visit on a regular basis.

See if your grandkids need a volunteer coach or a tutor. Mentor the next generation of professionals who are just starting out in your field.

Stop putting off the big vacations that never fit into your work schedule and treat your whole family to a dream trip.

Leave room to experiment

Most successful retirees will tell you that retirement isn’t a one-time life transition: It’s an ongoing process that you will refine over time.

Allow for some trial and error. Take chances on new opportunities and new experiences. Spend some time doing things you’ve never dreamed of trying, and you might find that your retirement is more full of promise and possibility than you ever realized.

Pete Alepra is managing director-financial adviser with RBC Wealth Management. Comments: (319) 368-7023; peter.alepra@rbc.com.