We often hear about the financial pitfalls of retirement: drawing too much too early, underestimating longevity, or ignoring inflation. But there’s another category of retirement mistakes - less obvious, but no less important. These are the lifestyle missteps that can slowly sap your sense of purpose, joy and wellbeing if you’re not careful.
At Town Close, we spend a lot of time talking about the emotional and social sides of retirement. Because real retirement success isn’t just about how much you have - it’s about how you feel and what you do with your time. So, here’s our take on the retirement traps to watch out for and how to avoid them.
1. Mistaking a To-Do List for a Life Plan
Many new retirees feel they should be doing something productive. Cue the garden redesign, the decluttering project and repainting the hallway. But what starts as a well-meaning list of tasks can quietly become a substitute for something more meaningful: connection, fun, exploration.
What to try instead: Ask yourself, “If I had 10 good years ahead of me, what would I really want to experience or learn or give?” Not everything has to be ‘useful’ to be valuable.
2. Losing Touch with Former Colleagues and Work Friends
Work is often a key social hub. When it ends, those coffee chats and corridor catch-ups disappear too. Some people under estimate just how much they’ll miss the camaraderie.
Tip: Schedule regular meet-ups - even a quarterly lunch with former teammates or friendly clients. They’ll probably be glad you suggested it.
3. Taking a Holiday Approach to Every Day
Those first few months of retirement can feel like an extended holiday. But permanent leisure, without rhythm or direction, can become strangely draining.
The fix? Build some structure. That could be a weekly volunteering gig, language class, walking group - anything that gets you out of the house and among others.
4. Delaying New Interests Until You’re 'Settled'
We often hear retirees say, “I just need to get a few things sorted before I start (joining that club / learning Italian /booking that trip)” but life rarely clears the runway for us. Months go by, then years.
Instead: Start now, even if it’s small. One class. One new group. One experience you’ve never tried before.
5. Leaving Your Partner Out of the Picture
One partner retires, full of ideas. The other is still working or just has different priorities. Misaligned expectations can cause friction.
Solution: Talk early and honestly about how you each picture your ideal day, week and year. What needs to be shared? What can be separate?
6. Underestimating the Emotional Shift
Retirement can bring unexpected feelings - loss of identity, a lack of direction, even low mood. It's normal, but it's rarely talked about.
Our advice: Don’t tough it out alone. Talk to friends, your adviser or even a coach or counsellor. There's no shame in needing support.
Final Thought: Retire to Something, Not Just from Something
Retirement can be a wonderful time - but it helps to approach it like any other major life transition: with thought, planning and a bit of courage. At Town Close, we’re here to guide you through all of it - not just the numbers, but the life you want to build around them.
Thinking about your own retirement? We’d love to help you shape a future that’s financially secure and personally fulfilling.