Retirement lifestyle: 8 ways to enjoy a happier retirement in Malaysia

Congratulations! You're about to retire. And even if retirement is still a few years away, it's never too late to start planning  for how you want to spend those golden years. Here are some tips to help you make the most of your retirement days.

What actually makes people happy in retirement?

Ask someone a year into retirement how it's going, and you'll often get, "Good, but busier than I expected" or "Fine, but I miss having somewhere to be." As retirement becomes a chapter in your life, planning for how you want to live it matters just as much as planning for when you stop working.

You should ask two important questions:

• “How much do I need to retire?”
• “How do I want to spend my retirement?”

This matters because your lifestyle choices can affect how much you need to set aside. A retirement filled with frequent overseas trips will look very different financially from one that focuses on family, local activities and hobbies.

Sort your financial planning for retirement

This part is the one that determines how relaxed everything else feels. Getting your financial planning for retirement right early, means you don’t have to perform mental arithmetic every time you want to book a trip or take your grandkids out.

The EPF's Belanjawanku 2024/2025 provides a reference point. It estimates that a single elderly person in the Klang Valley needs approximately RM2,690 a month for a reasonable standard of living, while a retiree living with a spouse is estimated to need around RM3,390 a month. Actual spending will vary depending on where you live and your lifestyle.

While lifestyle is important, it is difficult to enjoy life if you are constantly worrying about whether your money will last. That is why financial preparation should happen alongside lifestyle planning.

Before retirement, think about your:

• expected monthly expenses;
• healthcare costs;
• family commitments;
• sources of retirement income; and
• the activities you would like to afford.

The earlier you know what your preferred lifestyle may cost, the more time you have to adjust your savings and plans.

1. Give your days a sense of purpose

The biggest adjustment after retiring is usually the absence of a reason to get up at a certain time. Purpose can come from anywhere. It could be a project you never had time for, mentoring someone, or simply deciding what kind of day you want tomorrow to be.

The retirees who seem to settle in fastest are usually the ones who replace "going to work" with something else quickly rather than waiting for a sense of purpose to show up.

Here are some suggestions on what you can do:

• Spend more time with family
• Tend to a garden or look into a home project
• Mentor younger people
• Start a hobby-based business
• Join a community group
• Help with a family business
• Volunteer for a cause you care about
• Learn something you never had time for while working

2. Keep moving and look after your health

Physical health and mental health tend to complement one another during retirement, more than people expect. Regular movements such as walking, swimming, tai chi, dancing, yoga, and even gardening, help with everything from sleep to mood, to the ability to keep doing the things you love. Choose activities that fit your abilities and that you are likely to enjoy regularly.

Other ways to stimulate your mind is to take up classes such as pottery, creative writing, photography, ICT classes, handicrafts, cooking, sewing, and so on. How about learning a foreign language or a musical instrument, or joining a book club? These activities keep the synapses firing and the mental processes limber. Of course, mahjong is a great brain activity, but try to also get a little active. Your joints and heart will thank you for it.

It is also worth building a relationship with a regular doctor now, rather than only after something goes wrong, since catching issues early is far less disruptive to the retirement you're trying to enjoy.

3. Stay connected with family, friends and your community

Work gives you a built-in social circle, while retirement takes that away. Interest groups, religious communities, hobby classes, and scheduling regular meals with family or old colleagues are the easier replacements for the office chatter you might miss.

If you're married or partnered, it's also worth having a conversation about spending far more time together than you have in decades. The first few months after retiring can be surprisingly tense for couples, and talking about it early could help.

The health of your social network is as important as your physical health. Those who keep up a wide circle of friends tend to find themselves happier, more connected and sharper than those who don't. 

Pusat Aktiviti Warga Emas (PAWE) centres, for example, provide social support and community activities for eligible senior citizens, while volunteers, NGOs, family members, and other community members can also contribute to activities.

Staying socially connected is not about having a packed social calendar. Even a few meaningful relationships and regular activities can give your week a sense of connection.

4. Keep learning and try something new

Older adults who actively participate in brain-stimulating hobbies such as reading, chess or crossword puzzles over watching TV, were two and a half times less likely to suffer from Alzheimer's disease.

This learning doesn't need to be formal. It could be a language app, learning to cook something you've always ordered, or picking up an instrument. They all count. The goal isn't mastery. It's keeping your brain doing something it hasn't done before or neglected for years.

5. Explore, travel and enjoy new experiences

Travel comes up in almost every "happy retirement" conversation, and for good reason. New places tend to bring
back a kind of curiosity that gets buried during working years.

Here are two practical travel tips for senior citizens worth keeping in mind:

• Leave more time between activities than you think you need.
• Pay close attention to medical coverage before you go.

Travel insurance is another consideration. Check what your policy covers before you leave, particularly for medical treatment overseas, pre-existing conditions, emergency assistance, trip cancellation and medical evacuation, where applicable.

If you have ongoing health needs, speak with your doctor before travelling and find out where you can obtain medical care at your destination.

6. Give back through volunteering

Volunteer work in Malaysia is easier to find than most people expect. Organisations like MERCY Malaysia, Women’s Aid Organisation (WAO), National Cancer Society of Malaysia (NCSM), the Malaysian Red Crescent Society, and WWF-Malaysia regularly need help, and so do smaller, local options.

For example, you could seek out your neighbourhood surau, temple or church welfare committee, your children's old school PIBG, a community library reading programme, or a Rotary or Lions club chapter nearby.

There are also soup kitchens such as PERTIWI Soup Kitchen, Kechara Soup Kitchen, and The Assembly Soup Kitchen (TASK), among others, that often need an extra set of hands.

One option that could work well for retirees is mentoring younger staff at your old workplace, or with a professional body in your former industry. It keeps you connected to people who still remember what you're good at.

And if you’re an animal lover, you can volunteer and care for abandoned, stray or unwanted cats and dogs. PAWS, SPCA, Malaysian Independent Animal Rescue (MIAR), My Pets Haven, New Life Foundation - Animal Shelter, KL Pooch Resort and Rescue, Second Chance Animal Shelter, and Lost Animal Souls Shelter, among others.

Retirees who volunteer regularly report lower rates of loneliness and tend to hold onto their cognitive sharpness longer than those who don't. 

7. Consider part-time work

Some of the happiest retirees are the ones who went back to work; not full-time, not out of financial desperation, but just to have somewhere to be a few times a week.

Part-time jobs for retirees in Malaysia cover more ground than a typical desk job. Retired teachers commonly take on SPM or UPSR exam invigilation work each year. Others tutor students, consult for their old industry, pick up retail or F&B shifts during festive peak seasons, drive part-time with an e-hailing service, or sit on their condominium's management committee.

Retirees can also turn something they already do well into a small income stream, such as baking, sewing, gardening, or tour guiding around a heritage town.

Depending on your experience and interests, possibilities could include:

8. Make sure your finances support your lifestyle

Everything above is easier to enjoy once your finances isn't a constant worry, which is really what good financial planning for retirement is for. 

• RM390,000 for Basic Savings
• RM650,000 for Adequate Savings
• RM1.3 million for Enhanced Savings

A simple retirement lifestyle checklist

Here’s a quick way to check how balanced your own retirement lifestyle is right now:

• I have something that gives my week a bit of structure or purpose
• I move my body regularly and see a doctor for routine check-ups
• I have people I see or speak to regularly outside my immediate household
• I'm learning or trying something I haven't done before
• I've planned at least one trip or new local experience, with proper travel and health coverage sorted
• I've looked into volunteer work in Malaysia or a cause I'd like to support
• I've considered whether part-time work would add more to my life than it takes away
• I know where I stand against EPF's savings benchmarks, and I have a plan to close any gap

If most of these are unchecked, it's just a sign of where you could start. Your answers may change as you get older. A good retirement plan should have enough flexibility to change with you.

Retirement is not one-size-fits-all

Some retirees want a full calendar. Others want quiet mornings and a list of people they see often. What matters is that your finances can support whichever one you choose.

Explore Great Eastern's retirement plans to see how you can protect your savings and income, or speak to a Life Planning Advisor who can work through your specific numbers with you.