How can I help my mother prepare for retirement

bubblybee

My mother is 66 and will be retiring at the end of March from a full time job. She lives alone in her own house and has no mortgage on it. She will not, however, have much of an income. I don't know exactly what it will be but I know she is quite worried about it.

My first recommendation for her is to do her budget. So far she has resisted as she is a bit scared about what it will show. I have assured her that it's better to know and I'm sure I will convince her eventually.

My mother is in good health, although not terribly fit (plus a dodgy knee) but does not have a particularly busy social life. This is where my question comes in. I would like to prepare a pack of information for her to 'prepare' for retirement. I want to suggest ideas that are affordable, interesting, will help her to meet new people.

She may take a part time job after the first summer. I've suggested she join a gym (£20/month) and take aqua aerobics classes and the like. I am also thinking about classes but she has always been a bit funny about which ones she'd want to go to.

Can you make suggestions about what else I should be suggesting for her? Or point me in the right direction of similar threads (I have checked but couldn't spot anything obvious)?

Thank you

EdInvestor

Are you sure she wants any help?

She may just want to lurk under the duvet and do nothing at all until lunchtime ( See the What time do you get up? thread!)

Quite a lot of people take well over a year to transit from full time work to the next phase of their life, which may involve completely different pastimes and lifestyles which take time to set up.

I suggest you let her set the pace.

lilac_lady

I agree with Ed. The best bit of retirement is not having a boss. Make sure you don't step into that category when dealing with your mother!

kezia_jay

Rather than spending money on gym membership (your idea or hers?) most councils run "walking for health" groups which are good for fitness and socialising and are free. You only have to be reasonable fit to participate.

Janey3

Your Mum may be entitled to Pension Credit to top up her State Pension, might be worth looking into.

Perhaps you could help her to set up a spreadsheet on the computer to check out the finances, if she's not into the computer herself.

I wouldn't worry too much about her social life, she has probably given this some thought on her run-up to retirement, and as others have said, it will take a while to adapt to retirement after working full time, just let her go at her own pace. I retired two years ago and only just found my niche in life!

Wishing your Mum a very happy retirement!

Janey3

chesky369

...I would like to prepare a pack of information for her ...

Oh please! If your mother is savvy enough to have been working until 66, I think she'll be more than capable of finding out her own information - if and when she wants it. I mean, according to you, she has nothing else to spend her time on. You, on the other hand, are probably very busy. So let her act for herself. She may surprise you.

seven-day-weekend

Is she receiving her State Pension and does she have any other Pensions?

Also, I agree with others, unless she has asked for your help let HER decide what she wants to do with her retirement.

I walk round in my dressing gown all day occasionally. Sometimes I am on the computer at three am. I wouldn't like my time 'ordered' for me, especially what someone else thinks I should be doing. That's the good part of not going to work. There's a choice.

Oldernotwiser

seven-day-weekend wrote: »

Is she receiving her State Pension and does she have any other Pensions?

Also, I agree with others, unless she has asked for your help let HER decide what she wants to do with her retirement.

I walk round in my dressing gown all day occasionally. Sometimes I am on the computer at three am. I wouldn't like my time 'ordered' for me, especially what someone else thinks I should be doing. That's the good part of not going to work. There's a choice.

It would be a brave (foolhardy?) child of either of us who tried to do a budget for us or make plans for classes!

seven-day-weekend

Oldernotwiser wrote: »

It would be a brave (foolhardy?) child of either of us who tried to do a budget for us or make plans for classes!

Absolutely, same here!

However there is always the chance that the OP's mother has asked for her help. This needs to be ascertained first.

I repeat my questions: does she claim State Pension and does she have any other pensions?

chesky369

Quite honestly, if either my son or daughter suggested I join a gym, I'd disinherit them.

seven-day-weekend

chesky369 wrote: »

Quite honestly, if either my son or daughter suggested I join a gym, I'd disinherit them.

:rotfl::rotfl:Same here!