Lifestyle Changes

Lifestyle Changes

Retirement Lifestyle Changes 


Some people adapt to retirement really well and others struggle. Typically those that have had pre-retirement hobbies, interests, and or sports adapt really well to retirement as they have a network of friends outside of their home life and their previous work life.


From my experience and observations those that have been fully immersed in their jobs take longer to adapt in retirement than those that have had interests outside of work/career in their pre-retirement.


It’s also worth noting that if one partner is already retired, that other partner may already have a network of friends and a social routine already established.  When the other partner retires don’t automatically think they will take you along with them on the first day of your retirement to their Monday morning Yoga followed by Bingo at the RSL Club!

Should I Move away when I retire?


This is a popular question.  I am yet to see one person move to a coastal or country town at retirement and then not move from that town back to a city or the suburbs of a city within 5-10 years.


Typically they cite the following reasons for moving again:

  • They want to be closer to medical facilities;
  • They have to drive too far to the bigger shopping centre;
  • They don’t know many people, they should have moved there 10 years earlier (10 years pre-retirement);
  • They want to be closer to the Grandkids and family
  • They don’t want to be left alone if one partner dies

The end result is you can spend a lot of money in transaction costs  moving twice (sometimes more).  These costs are a leakage from your wealth (especially if property prices go against you) and can result in a lower income in retirement. Really think about these longer term issues.

Should I buy in a Retirement Village


There can be some great lifestyle benefits moving into a retirement village, but there are also some costs and exit fees you need to be aware of.  When people find the right village, they are very happy, however if you find the wrong village it can end up being expensive to move again.


Some people also find retirement villages can be a little too social for them with too many people of the same demographic in the same place.  


You also need to consider if you did want to move from a retirement village, how easy is it to sell your interest in the property and to release your capital.


Take the time to understand the costs (especially the exit costs/deferred entry costs, including any refurbishment costs when you move out) and the process so you can avoid being surprised in the future.



There are many federal, state and local discounts for people who qualify for the Age Pension.  The following examples may apply to you in retirement:

  • NSW car registration is free, this does not include the CTP green slip
  • NSW drivers licenses
  • Sydney Water (this is probably the best one on offer at the moment)
  • Electricity – call your provider to ask about their discount
  • Seniors Opal Card (NSW)
  • Local Council Rates (check with your local council and ask the question)


There are lots of other discounts.  Some discounts will apply to recipients of the Age pension only and other discounts apply to all seniors.