Retirement is often viewed as a time of happiness and fulfillment, but it takes more than just clocking out of work to achieve true happiness. According to a white paper from Empower, 83% of pre-retirees expect to live their best life in retirement. However, psychologists remind us that happiness is a combination of positive emotions and a sense of fulfillment and purpose in life. In order to achieve a happy retirement, it's important to actively work towards it, such as by following these eight tips backed by solid evidence.
Retirement: A Quest for Happiness and Fulfillment
Retirement, often perceived as a time of well-deserved respite, is an anticipated milestone for many. However, research suggests that achieving true happiness in this stage of life requires more than simply stepping away from the workforce.
The Importance of Active Planning
While 83% of pre-retirees envision a blissful retirement, psychologists emphasize the importance of proactively pursuing happiness. True fulfillment stems from a combination of positive emotions and a sense of purpose and meaning.
Tips for a Happy Retirement
Informed by evidence-based research, here are eight practical tips to enhance happiness in retirement:
FAQs
1. How do I know if I'm ready for retirement? Retirement readiness involves financial planning, as well as assessing your physical and mental well-being. It's important to have a clear understanding of your financial situation, your desired lifestyle in retirement, and your overall health and vitality.
2. What are the biggest challenges of retirement? Common challenges faced by retirees include financial uncertainty, loss of purpose and identity, and social isolation. Additionally, health issues and the loss of loved ones can also impact happiness in retirement.
3. How can I avoid the "retirement blues"? Actively planning for retirement and pursuing activities that bring you joy can help prevent feelings of emptiness or sadness. Stay connected with others, engage in meaningful pursuits, and cultivate a positive outlook.
4. Is it possible to be happy in retirement without a lot of money? Financial security is important, but it's not the sole determinant of happiness in retirement. Building strong relationships, pursuing fulfilling activities, and adopting a healthy lifestyle can contribute significantly to well-being even with limited financial resources.
5. What are some tips for living a long and happy retirement? Maintain a healthy lifestyle, engage in social activities, pursue meaningful pursuits, and cultivate a positive outlook. Additionally, planning for long-term care and seeking support from family and friends can enhance the quality of your retirement journey.
IEconomy Category: Business Title: "Castrol India Ltd's 2024 Corporate Data and Historical Price & Volume Analysis: What Investors Need to Know" Castrol India Ltd, a leading chemicals company with a registered office in Mumbai, recently announced updates to its corporate data and historical price & volume data. This information, sourced from CMOTS Internet Technologies Pvt. Ltd., BSE Limited, and NSE Data & Analytics Limited, provides investors with valuable insights and analysis on the company's performance. However, investors are advised to exercise caution and seek advice from professionals before making any investment decisions. With the stock analysis section on the rise, now is the time for investors to take a closer look at Castrol India Ltd's future prospects.
Rishi Shah and Shradha Agarwal, two co-founders of Chicago-based health tech firm Outcome, have been convicted and sentenced for committing a $1 billion fraud scheme. Shah, a former billionaire and Outcome's former CEO, received a seven-and-a-half year prison sentence, while Agarwal, the former president, was sentenced to three years in a halfway house. The fraud, exposed by Wall Street Journal in 2017, involved selling advertising inventory that the company did not own and under-delivering on ad campaigns. Several high-profile investors, including Goldman Sachs and Google-parent Alphabet, were targeted in the scheme.
Emcure Pharmaceuticals has raised a significant amount of funding through its anchor book, with notable global investors such as the Abu Dhabi Investment Authority, Goldman Sachs, and Morgan Stanley participating. The company has also secured investments from several mutual funds, insurance companies, and other institutional investors. This capital will allow Emcure to strengthen its position in the pharmaceutical industry and continue its growth and development.
With the monsoon session of Parliament approaching, all eyes are on Finance Minister Nirmala Sitharaman as she presents Modi 3.0 government's first Union Budget. As expectations of potential populist measures and tax relief initiatives rise, employed taxpayers are hoping for changes in the exemption for House Rent Allowance (HRA) under the old tax regime. Experts suggest that revisiting the classification of HRA exemptions, which has remained unchanged for over three decades, could provide significant financial relief for taxpayers residing in rapidly growing non-metro cities. Additionally, the government may introduce incentives to encourage transition from the old tax system to the new one, ultimately boosting middle-class consumption and GDP figures.
Foreign brokerage Bernstein has recommended an 'outperform' rating on power financiers PFC and REC, citing underestimation of the current power cycle by investors and lower NPA risks. The targets set are Rs 620 for PFC and Rs 653 for REC, implying potential gains of over 23% and 21% respectively. Despite recent rallies, these stocks are trading at cheaper valuations and offer better returns for investors. Stay updated on the latest business and stock market news, and manage your finances with our useful tools and resources.
HDFC Bank, one of the leading private sector banks in India, experienced a surge in its stock price today, hitting a 52-week high on the NSE at ₹1,794. The stock price rose by 3.07% on the NSE, trading at ₹1,783.65 as of 11:26 am. This increase in stock price is a positive indicator of the bank's performance and may attract investors looking for profitable options in the stock market.
The Goods and Services Tax (GST) has been a key factor in India's economic growth, with Finance Minister Nirmala Sitharaman expected to prioritize GST numbers in the upcoming Budget. In April 2024, GST collection hit a new high of ₹2.1 lakh Crore, indicating the resilience of the economy and reducing the load on government budgets. With strong tax collection, the government can focus on its capex plan and welfare initiatives, while also considering the concerns of coalition partners.
On July 3, 2024, oil marketing companies (OMCs) in India have released fresh prices for petrol and diesel, which are revised daily at 6 am. Amid fluctuations in international crude oil prices, these changes affect the amount customers have to pay for a litre of fuel. However, after seeing a steady rate since May 2022, the prices have now started increasing post March 2024. Check the city-wise rate table to know the latest cost of petrol and diesel in India.
The Air India Express Employees Union, affiliated with the Bharatiya Mazdoor Sangh, has written to the Chief Labour Commissioner alleging various unfair labor practices by the airline. These include issuing charge sheets to members and disrupting industrial relations. This comes amid conciliation proceedings between cabin crew members and airline management.
In the first quarter of 2024, Hannover Re exceeded expectations with a 15% increase in group net income, reaching €558 million. Reinsurance revenue also saw growth, rising by 1.6% to €6.7 billion. The company's shareholders' equity and capital adequacy ratio both remained strong, at €10.9 billion and 266.8% respectively. In the property and casualty reinsurance segment, risk-adjusted prices and conditions improved, leading to a 3.1% increase in gross reinsurance revenue. In life and health reinsurance, demand remained strong for financial solutions and longevity risk protection. Overall, Hannover Re expects continued growth in 2024, with a forecasted group net income of at least €2.1 billion.