Minimalism can be defined as being content with fewer possessions. Embracing the minimalist philosophy as you approach retirement has its advantages; not only can it change your life when you least expect it, but it can also make your retirement savings stretch further.
William Schantz says that many people confuse minimalist living with being frugal, but it’s quite different. Minimalism refers to cutting down unnecessary expenses that hold you back in life, helping you declutter your life, focus on your needs, and balance out priorities.
With minimalism, your life is a tidy and simple lifestyle and focuses on non-material possessions for attaining happiness. This could be spending more time with family and loved ones or traveling and indulging in what you enjoy doing.
In this blog, William Schantz discusses how you can embrace a minimalist lifestyle upon retirement.
William Schantz Lists Advantages of Minimalist Living
By adopting minimalist living upon retirement, you learn to feel happier with having less. You live an eco-friendlier lifestyle and limit your financial worries. You also have more free time on your hands to invest in relationships. William Schantz explains that when you live minimally, you spend more money on experiences than things. You also live in smaller spaces and end up saving more money. In turn, you can spend this money doing things you love and enjoy.
Why is Retirement a Great Time to Live Minimally?
As you grow older, you gain more experience and perspective. This gives you the maturity to embrace healthy living decisions such as minimalist living. When you retire, you are no longer an active part of the workforce. Hence you have to rely on your retirement fund. Living minimally can help you spend on needs rather than wants and make your fund last longer. Retirement also brings major changes to your lifestyle. You no longer have a full-time job and have more time to yourself. You can spend this time doing things you love and enjoy, such as side hustling or spending more time with the grandchildren. Why not also bring changes to your lifestyle and live minimally and hassle-free? Since you will be adapting your lifestyle anyway, why not include this change.
William Schantz’s Tips to Live Minimally
Declutter Your Space
Only keep what you need. Get rid of all the things you don’t use in your home. This includes kitchen appliances, closet items, and collectible items you don’t use. You can sell them in a garage sale or sell them online. Donating your items to the needy is also a great idea.
After decluttering, keep your flat surfaces as pristine as possible. Also, make sure everything is properly when not in use.
Learn to Say No
Saying no is a vital step towards minimalist living. If you want something but don’t need it, resist the urge to purchase it. Initially, it might be a challenge, but it will become a habit, and you’ll easily control your spending.
Adopt an Eco-Friendly Lifestyle
Reuse and repurpose as much as you can to save money.
William Schantz’s Concluding Thoughts
William Schantz believes adopting a minimalist lifestyle upon retirement is a great move. With this step, you get a refreshingly new start in life. You get to focus on non-material things to keep you happy and make your money last longer.