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5 Steps to Find Your Passion Post Retirement | Bajaj Allianz Life

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5 Steps to Find Your Passion Post Retirement


By : Bajaj Allianz Life

Pursuing passion may remain a dream for many working people while they earn for the family. Not everyone can turn their passion into a career at a young age. Responsibilities may take over the opportunity of getting out and experiencing new things to see what excites you. But there is no age and time for you to get your creativity flowing. Post-retirement can be the best time to explore and find your passion. Finding your passion after retirement can be a thrilling experience.

Be it anything that you do in your life, it needs to be perfectly planned. Let’s take a look at the five steps that can help in finding your passion after retirement.

 

Step 1: Explore your passion

 

Many retirees may find it difficult to keep themselves active as they suddenly get a permanent break from their work. This is the time to think about the passion or something that really excites them. As you are starting a new phase of your life, post-retirement is a suitable time to give another chance to your passion.

Now, a question may arise in your mind how do I find my passion? Passion could be anything from reading books to hitting the badminton court to travelling to new places, exploring the culture, writing, opening your own store, and so on. You need to explore and find what really excites you. Go back to the times when you wanted to do so many things when you had free time. List down all the things and activities that excite you. The first step to pursuing your passion post-retirement is to find the passion that can keep you engaged and happy at the same time.

 

Step 2: Get skilled

 

Once you find your passion, it is important to master the skills that it takes to pursue your passion. Let’s say you were interested in embroidery and crochet art back then when you were young. You can pursue that passion now. There is no age limit for learning. You can take online classes on embroidery or on crochet in today’s digital world and get skilled to pursue your dreams. Learning new technology excites you? You can take courses on that too to get skilled. If travelling is your passion, you can do so.

 

Step 3: Experience with various activities

 

Once you find your passion and learn the skills needed for that, all you need to do in the next step is to start working on it. It is important to experience various activities before you start pursuing your passion post-retirement. You can find a job related to your passion or may consider becoming a freelancer online to gain experience. For example, if travelling and exploring cultures are your passion, you may consider doing online vlogging courses and then start your vlogs. If writing is your passion, you may consider becoming a freelance writer online. If embroidery or designing is your passion, you can consider opening your online/offline store. Gaining experience with various activities is extremely important to bring your dream passion into reality.

 

Step 4: Save for your passion

 

Some of your passion would need you to invest money in it to get it into execution. For example, if you are opening up an offline store for embroidery work, you would need a space and a setup for displaying your work. This requires money. Similarly, if travelling is your passion that needs money too, as soon as you realise this, start saving for your passion and make it a part of your post-retirement plan. Start saving money from your post-retirement monthly income to pursue your passion. You can also make it a habit to save while working to pursue your passion in the future as a part of your retirement plan.

 

Step 5: Seek expert help

 

When it comes to investing efficiently for your passion, you can take the help of experts to understand what type of financial instrument would be suitable to invest in for meeting your retirement goal. Life insurance or retirement plans offered by life insurance companies can be one of the preferred options to help you turn your dream passion into reality. Retirement plans offered by life insurance companies for your post-retirement financial needs as they give you the benefit of the steady and regular flow of income along with life cover during unfortunate times. There are many retirement plans available in the market, and hence it would be wise to take an expert’s help to make a rational choice.

To sum up, finding your passion after retirement is one of the ways of rejoicing in your life by doing something that you always wanted to do. While investing for your passion or while investing in any retirement plan, do check out the market conditions and the product suitability for your current financial situation and needs. Happy retirement life!

BJAZ-WEB-EC-01511/22

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The above information is for general understanding and is meant to educate the general public at large. The reader will have to verify the facts, law and content with the prevailing tax statutes and seek appropriate professional advice before acting on the basis of the above information.

The views stated in this article is not to be construed as investment advice and readers are suggested to seek independent financial advice before making any investment decisions. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on www.bajajallianzlife.com) carefully before concluding a sale. Tax benefits as per prevailing Income tax laws shall apply. Please check with your tax consultant for eligibility.