Struggling to find peace of mind?
Small changes can make a big difference
Avoiding stress in retirement isn’t only about how much money you receive from your NTRF pension. In many cases, it has far more to do with how you plan, think and behave once your regular pay cheque stops. Small habits and behavioural changes can make a surprisingly big difference over time.
Many people who enjoy retirement don’t constantly chase higher investment returns or panic when markets rise and fall. Instead, they understand that retirement is a long journey, not a series of financial emergencies.
NTRF retirees with fairly modest portfolios live calm and fulfilling lives, while others with significant wealth remain anxious about their finances. The difference often comes down to the habits they develop and maintain.
Over time, certain habits consistently stand out among our Fund’s retirees who experience greater peace of mind. Here’s what they have to say:
Know your monthly number
One of the most powerful steps you can take is to be clear about what your lifestyle actually costs each month. Not a rough guess or hopeful estimate, but a realistic number based on your actual spending.
This means understanding the difference between:
- Essential spending – medical aid, insurance, municipal costs, groceries and transport
- Lifestyle spending – travel, entertainment, hobbies and helping family
- Irregular costs – car replacement, home maintenance, major trips or medical excesses
When you know your true monthly number, retirement becomes far less uncertain, and managing your finances becomes far more straightforward. Often, the root cause of fear and anxiety is not knowing enough – knowledge is not only power, but also peace of mind.
Understand that retirement happens in phases
Retirement spending rarely stays the same over time. Instead, it tends to evolve in stages.
These stages are often described as:
Active years: the early part of retirement when you are likely to travel more, pursue hobbies and spend more on experiences.
Settled years: a period when life becomes a bit quieter and discretionary spending often begins to ease.
Support years: later years when lifestyle costs may decrease, but healthcare and support-related expenses can rise.
Understanding these phases helps you strike the right balance. You can give yourself permission to enjoy the earlier years of retirement while still planning for the higher medical and care costs that often arise later.
Keep your financial plan simple
Another common habit among successful, happy retirees is simplicity.
Many of them tend to have:
- Fewer investment accounts
- Clear income sources
- A strategy they fully understand
Complex financial arrangements can increase confusion, stress and the risk of mistakes. A simple, well-structured plan is much easier to maintain over a retirement that could last 20 to 30 years.
As you think about your own retirement, a helpful question to ask yourself is: Which of these habits do you already have in place, and which ones might still need some attention?
You can always contact us if you have concerns or need assistance. Remember – retirement is when you stop living at work, and start working at living.
