Retirement is often a lifelong pursuit for those weary of the same working routine for the past 30 to 40 years.

However, a study published by the Journal of Population Ageing reveals that retirees are more likely to experience symptoms of depression than those who still work.

Entering retirement without a solid financial plan can be a steep slope for the newly retired or anyone planning to retire. There are also the risks of a lengthy illness, a pension plan gone wrong or outliving one’s retirement savings.

With limited income sources post-retirement, retirees cannot help but worry about their daily expenses or how to manage in case of an emergency.

Retirees also face the risk of loneliness and of missing their former fast-paced routine. This worry and stress can affect their mental health and lead to what is known as “retirement blues”.

But all’s not lost if you keep in mind that settling down to a fulfilling retirement can be fun with proper planning and discipline. So yes, your retirement can be exciting if you have a new set of goals to work towards.

1. Manage your nest egg

Make sure you are financially secure even before your retirement date. Carefully manage your Employees’ Provident Fund and personal savings by adapting to a more lean lifestyle.

There are two elements of living lean: buy smart and avoid debt. Make full use of your senior discounts and understand the difference between “wants” and “needs”.

Instead of succumbing to peer pressure by buying a brand new car or investing in a high-risk business, understand that your financial capacity is now limited and vulnerable. However, do not let your new lean lifestyle keep you from enjoying life.

2. Fulfil long forgotten dreams

It is never too late to realise dreams that took a backseat while you were still working. The time you now enjoy as a retiree can be filled with exciting adventures and life experiences.

All you need is to create a bucket list. This will help keep you motivated and focused while staying active in your golden age.

3. Develop a new rhythm

After years of waking up to a hectic schedule and a much-needed cup of coffee, life can get pretty uneventful for a new retiree. You may miss the structure of your normal routine but what you can do is develop a new rhythm.

Begin by scheduling activities to fill up your day. For example, an hour’s exercise in the morning followed by light gardening. Or settling the house chores so it frees up time for socialising later.

4. Keep friendships alive

While retirement means you now have time for yourself, it does not mean you have to spend it by yourself.

Stay engaged with your friends with “yum-cha” sessions at the local kopitiam. Then let the day flow from there.

5. Get a pet

In need of some sense of responsibility that can keep you healthy and feel alive? Get yourself a pet. Owning a pet can motivate you to stick to a routine while giving you a sense of responsibility.

A pet will give you something meaningful and important to do, which is a great way to maintain your cognitive abilities.

Besides fulfilling their basic needs such as feeding, walking, and grooming, playing with your pet can keep you occupied and preserve your mental alertness.

This article was written by Fariza Kasani, a Care Manager with Care Express, and reviewed by Andrew Mastrandonas, Co-founder and CEO of Care Express, a company that provides a range of elderly at-home caregiving services, sending trained and certified professional caregivers and nurses to clients’ homes. For more information go to Care Express.