Almost all of us want to reduce the stress in our lives as we enter retirement. After decades of screaming kids, performance reviews, road rage and social pressure, we are finally ready to relax and take it easy a bit.

On the one hand, this is a perfectly natural desire. After all, stress is bad, right? Why wouldn’t we want to live stress-free lives in retirement?

The reality, as I have discovered by talking with 100s of recent and not-so-recent retirees is somewhat different. Not only can some forms of stress have positive impacts on our lives, but, pursuing the goal of “reducing stress” can actually leave us feeling empty, out-of-shape and poor.

To illustrate my point, I’d like to tell you a story about Piranhas… yes, the little monsters that live in rivers in the Amazon and can strip a cow to the bone in about 30 minutes.

Let’s Throw Some Piranhas Into the Retirement Fish Tank

My son once told me a story about a man who was having trouble keeping his collection of goldfish happy and healthy.

As the story goes, a man walks into a pet store and tells the manager that his fish are dying at a rate of about one a week. They are also lethargic, overweight and they even look depressed. What does a depressed goldfish look like, you ask? We’ll probably never know!

In any case, the pet store manager recommends that the goldfish owner add a piranha to the fish tank to get the goldfish moving again. The goldfish owner is skeptical, but, short on other ideas, he decides to give it a try.

One week later, his fish have come back to life. They are swimming normally, eating properly and swimming together in groups. They even look happier.

Now, let’s ignore the fact that the goldfish owner probably lost a few fish to the hungry piranha and focus on the larger point:

Sometimes, boredom and a lack of purpose are a greater risk to our health and happiness than stress.

This is true at every stage of our lives, but, it is especially true during our retirement years when our bodies are already feeling the effects of the aging process.

So, does this mean that we should intentionally add stress to our lives in retirement? Yes and no. Yes, we should add stress to our lives, but, we should make sure that it is the kind of “good stress” that our bodies and brains will respond to positively.

Not All Stress is Created Equal – Exploring “Good Stress” vs. “Bad Stress” in Retirement

Psychologists recognize that not all stress is created equal. “Bad stress” (distress) is unpleasant, anxiety-inducing and can lead to physical and mental problems. “Good stress” (eustress) is motivating, exciting and can improve performance and our sense of purpose.

So, what does this distinction mean for retirees? How can we use this information to find happiness in the short-term without sacrificing satisfaction in the long term?

For starters, we can start to classify the stressors in our life as either causes of distress or eustress. Then, we can work to actively reduce the causes of distress in our lives while increasing the causes of eustress.

Here are a few examples of negative stressors:

• Losing your partner or a close family member
• Getting a divorce
• Having strained relationships with your friends or family
• Being injured or getting a serious illness
• Worrying about money
• Being forced to retire before you want to
• Seeing your kids or grandkids struggle
• Having legal problems

On the other hand, here are a few examples of positive stressors:

• Going back to school
• Starting a new sport
• Finding a new hobby
• Meeting new people
• Going back to the gym after years of sedentary life
• Putting a financial plan in place
• Getting back into the dating game
• Moving to a new state or even country

Notice that any of the items in the second list could be considered stressful. They ask us to step out of our comfort zones and may require an investment of energy, money, time or social capital.

But, unlike the items in the first list, they lift us up, rather than pulling us down. They help us to feel alive rather than taking us one step closer to the grave. They may make us feel uncomfortable in the short term but they make us happier in the long-term.

As Lee M. Brower once said, “A thriving new beginning can and should be a time for amazing engagement, growth, connections, contributions and amazing possibilities.”

What’s the Right Balance When it Comes to Retirement Stress?

The bottom line is that, when we enter retirement and declare war on stress, we risk throwing the baby out with the bathwater. Instead of seeing retirement as an opportunity to “take it easy” and live “stress-free,” we should see it as an opportunity to live with passion, energy and purpose.

To do this, we should wholeheartedly embrace eustress while working to reduce the causes of distress in our lives. This is the only way to get the most from the best years of our lives.

Do you think that there is such a thing as “good stress” and “bad stress” in retirement? What are you doing to reduce the causes of distress in your life, while increasing the causes of eustress in your life? Let’s have a conversation!

If you were like most people, you probably spent a lot of time in your younger years worrying about your credit rating. After all, this one number had the ability to impact your mortgage, credit cards and car payments.

But, as we get a little bit older, we tend to worry less about our credit rating. I guess we just figure that it just doesn’t matter so much, now that our biggest purchases are behind us.

Well, today, I want to article that there are plenty of reasons to care about your credit rating after 50. Here are just a few ways that having a good credit score can help you, no matter your age.

Refinance Your Mortgage to a Lower Interest Rate

If you purchased your home when rates were high, you may want to refinance your home mortgage to lower your monthly payments.

Of course, you need to have good credit to obtain a lower interest rate on your mortgage because your credit score directly corresponds to the rate you’ll qualify for with most conventional loans.

Talk to a financial advisor to see if refinancing makes sense in your situation.

Get a Reverse Mortgage

A reverse mortgage allows you to withdraw some of your home equity, but, you must undergo a financial assessment to qualify.

The assessment may take your credit history into consideration to determine whether you’d be subject to a Life Expectancy Set-Aside for your homeowner’s insurance and real estate taxes.

In general, the better your credit history, the lower the chances that you’ll be subject to a LESA that could eat into your retirement funds.

Buy a Car (Done Right, This Could Actually Save You Money!)

Whether you’re finally going to buy that convertible, a campervan for a cross-country road trip, or something sensible for getting around town, you’re going to need good credit to receive financing on a new vehicle.

With interest rates currently being so low, several of my friends have decided to sell their big expensive SUVs and to purchase smaller cars at 0% financing.

As a bonus, why not consider an electric vehicle, which may also come with tax rebates or other financial incentives?

Get Better Financing on Medical Bills

Even if you’re perfectly healthy, unexpected medical expenses are a part of life after 50. But if your credit is close to impeccable, hospitals may be willing to negotiate more favorable payment terms with you.

If worst comes to worst, if you have good credit, you can probably take a loan from the bank or get an extension of your credit limit on your credit cards. Of course, no-one wants to be in this situation, but, you just never know what life will throw at you as you get a little older.

If you’d like to boost your credit score in the years leading up to (or during!) retirement,  there are several steps you can take.

Monitor Your Credit Report, and Dispute Errors

One of the most important things you can do to maintain good credit is to monitor your credit report so you know where you stand.

AnnualCreditReport.com allows every user one free copy of her credit report from each bureau (TransUnion, Equifax, and Experian) annually. You can elect to check them all at once or check one bureau every four months. If you see any inaccuracies, dispute them immediately.

Lower Your Credit Balance-to-Limit Ratio

It seems counter-intuitive that having a high credit limit might actually improve your credit score, but, this is actually quite common. What’s the catch? You can’t use all of your credit up!

Some experts recommend that you try to maintain a credit balance that’s 50 percent of your credit limit or lower. This shows your creditors that you are not “maxed out” and that you are responsible with regards to managing your finances.

Don’t Close Every Account

At our age, it’s tempting to start canceling our credit cards and lines of credit. Of course, if you have a debt problem, this can be a good idea. But, if you are in control of your financial situation, you may want to leave some accounts open.

Old accounts in good standing can actually help you to maintain a good credit score — even if you don’t use them very often.

For accounts that charge inactivity fees, consider using them to pay a small monthly fee (such as your cable bill) to keep them in good standing.

Pay Your Bills on Time

This may seem obvious, but, one of the easiest ways to achieve and maintain a good credit score is to simply pay your bills before they’re overdue on a consistent basis. To do this, you can set up automatic bill pay or create calendar reminders to help ensure that you always pay on time.

When you implement these tips, you should start seeing improvement within a few months. However, it can take up to several years to fully repair your credit score, depending on the length of your credit history — and the most recent 24 months of credit history have the most significant impact on your score.

No matter your age, having a good credit score should be a part of your overall financial plan. Not only could it help you to save money on the biggest purchases in your life, but, it could also help you to deal with any emergencies that come up in your older years.

Do you think that maintaining a good credit rating is important, no matter your age? Why or why not?