Getting retirement ready

Couple drinking smoothies and reading newspaper on patio

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Retiring in the next 5-10 years? With such a significant life transition on the horizon now’s the time to get focused on your health, wealth and happiness.

Use our top tips to set yourself up for a bright future:

  1. Get active

The early years of retirement (ages 65-74) is when it’s likely you’ll be at your most active. Getting physically fit before you retire will help ensure you’ve got the staying power to fully enjoy travel, develop new pursuits or spend more time on existing ones.

Whatever activity – or activities – you choose, the Ministry of Health recommends it includes muscle strengthening twice weekly with at least 2½ hours moderate or 1¼ hours vigorous exercise accumulated across the week.

  1. Eat well

To maintain a healthy body weight and avoid lifestyle diseases, it’s essential to eat good quality, nutrient-dense food in the lead up to retirement.

Because we need fewer calories as we age, you’ll need to eat less while making sure your diet includes a variety of nutritious foods like plenty of vegetables, fruit and whole grains and dairy, legumes, nuts, seeds, fish, seafood, eggs, poultry and red meat.

  1. Get social

There’s mounting evidence retirement improves health. And it’s what you do with your time – rather than your money (provided you have enough to live securely) – that will really make a difference.

Research shows the quality and quantity of a person’s social connections is key. If relationships with your friends, family or neighbors have taken a back seat during your working years, start reconnecting before you retire.

  1. Take a momentgettyimages-664662173

Retirement brings an enforced change of pace which, if you’re not prepared for it, can come as a shock. Learning to do nothing and taking time out is just as important as staying fit or building your social connections.

  1. Check your retirement savings

While you might be eligible for New Zealand superannuation when you turn 65, it only provides for a basic standard of living. It’s likely it won’t provide enough money for you to live the kind of retirement lifestyle you want.

Double check you’re on target to achieve your retirement savings goal while there’s still time to increase the amount you’re saving.

If you’ve got KiwiSaver or another investment vehicle consider when you’ll want access to all or part of your money. This is important because it will impact the level of risk you might be willing to take as well as any potential return on your investment.

If you’d like to learn more about managing your savings before or during your retirement, talk to investment specialist and KiwiSaver provider Mercer New Zealand.

Find out more about Mercer’s investment savings products Mercer KiwiSaver and Mercer FlexiSaver, or call the Helpline team on 0508 637 237, 9am to 7pm on all business days.

Mercer-MTT-Mercer-Dominant

The Mercer KiwiSaver scheme is issued by Mercer (N.Z.) Limited. For information about this product, please refer to the product disclosure statement which is available free of charge here. This information has been prepared by Mercer (N.Z.) Limited.

Past performance should not be relied upon as an indicator of future performance.

The information contained on this page is intended for general guidance only and is not personalised to you. It does not take into account your particular financial situation or goals. Before making any investment decision, you should refer to the product disclosure statement or consult an appropriately authorised adviser.

© 2017 Mercer (N.Z.) Limited. All rights reserved.