Congratulations—you’re due to retire next year or even in the coming months, but you’re unsure what to do next. Retirement is a joyful milestone, offering the freedom to set your own schedule, enjoy extended holidays, and travel wherever you wish. The minimum retirement age in Singapore is currently 63 but will be raised to 64 on 1 July 2026.
How to Have a Happy Retirement
How can you ensure a fulfilling retirement? Globally, retirees consistently identify financial security and good health as key contributors to happiness. Here are ten ways to prepare for and enjoy a happy retirement.
(1) Make Sure You Have Some Passive Income or a Steady Paycheck
Ensure you have at least some passive income or a reliable paycheck to keep you financially secure. In his book, ‘You Can Retire Sooner Than You Think: The 5 Money Secrets of the Happiest Retirees’, financial planner Wes Moss found the happiest retirees had higher net worths, although happiness plateaued beyond USD550,000. Another study noted happiness slightly declined after about USD3.5 million in wealth.
Passive income or steady payouts can come from annuities or retirement plans. For instance, investing $100,000 now might yield roughly $600 per month post-retirement. Consult an experienced financial advisor to create a steady income stream for your retirement.
(2) Stay Healthy!
Exercise regularly. Numerous studies reveal that better health correlates with greater happiness in retirement. An EBRI study conducted in 2022 found that among retirees with assets of $500,000 or more, 78% of those in very good to excellent health reported being very satisfied with their retirement, compared to only 55% satisfaction among those in fair to poor health.
(3) Plan What You Want When You Retire
Start thinking at least five years before retirement about how you want to spend your time and what will bring fulfillment. Decide where to retire, how much to budget for travel, hobbies to pursue, or even starting a small business. Living abroad may reduce financial strain with a lower cost of living.
Read more about retiring in different locations.
(4) Work Part-Time, Even If You Don’t Need To
Many retirees work part-time voluntarily for purpose and social engagement. Studies show retirees who choose to work part-time report better happiness and fewer major diseases—like the 2009 Journal of Occupational Health Psychology study. Working also boosts mental health and provides regular activity.
(5) Volunteer
Giving back through volunteering increases purpose and self-esteem. Research confirms retirees who volunteer have higher happiness as it fosters community connection and friendships. Learn more from this Giving In Retirement study.
(6) Stay Connected With Family and Kids
Social isolation negatively impacts health—poor social interaction links to heart disease, cognitive decline, and dementia risk. Make time for family, friends, and especially children or grandchildren. Also seek new friendships.
(7) Pick Up New Hobbies
Stay busy to boost happiness. Whether it’s painting, music, salsa, fishing, sports, or Tai Chi, community centres often offer affordable classes. Wes Moss notes happiest retirees often engage in 3-4 regular activities.
(8) See Your Grandchildren Often
If you have grandchildren, build a close relationship. Studies show the grandparent-grandchild bond benefits both generations, enhancing happiness.
(9) Develop a Routine
Though initially unfamiliar, keeping consistent wake times, meal times, and bedtimes can promote well-being. Scheduling your activities adds purpose to your days in retirement.
(10) Exercise!
Don’t forget this vital secret. Incorporate regular exercise—whether yoga, pilates, hiking, walking, or sports. Invite a partner or friend to join you so you can motivate each other and get your heart rate up.
Final Thoughts
Most retirees worldwide report that retirement opens opportunities to try new experiences, which increases happiness. You don’t need a fortune to retire—focus on what you have, enjoy your days, and avoid stressing over what’s missing. This mindset leads to a truly happy retirement.
Retire Early. Travel More. Worry Less.
Retirement isn’t just stopping work—it’s starting the life you’ve dreamed of. Whether that means exploring new places, enjoying your passions, or simply relaxing without money worries, it starts with a solid retirement plan.
Our experienced Singapore-based financial advisers (10+ years) can help transform your retirement dreams into a practical strategy.
Get in touch at hello@vivacityasia.com—your future self will thank you.