What Newer Retirees Aren’t Talking About
There’s one thing I can report that I’m NOT hearing from newer retires: that it’s awful. That’s right. Not a single time have I heard someone say they’re loathing their ability to be a person of the retired class. Instead, newer retirees share stories of travel, time spent with family, projects they’ve considered getting around to doing on the house, but haven’t quite checked off the list yet. It seems as if there really is something to this retirement concept.
With that said, there are a few things I thought were worth passing on, as told to me by newer retirees.
Remain open to part-time or consulting work. In my extremely unscientific study, around half of new retirees enjoy doing some paid work even though they don’t have to, financially. Some people bore easily, others enjoy the pleasure of challenging work, albeit just 10-20 hours per week. It’s fun to see paychecks continue and it’s equally as fun to know that you’re showing up to work by choice, rather than necessity. There are also numerous studies that extoll the health virtues of remaining engaged in work, even if at a much less stressful pace.
Beware the recliner. The last thing you need from me is a sermon or guilt trip about fitness, so remember this is coming from others and not from me. The opportunity to plan your own schedule is a huge blessing. But somehow, to the constant amazement of scientists, the reclining chair develops an increased gravitational pull during retirement that becomes very difficult to resist once the habit begins. If there’s one consistent argument that I’ve seen surface between spouses who are retired, it’s the debate over time spent in the recliner. I won’t belabor the point here, but beware the chair!
Have a plan for what you want to accomplish in retirement before retirement begins. Sure the joke about the unfinished honey-do list is pretty consistent among retirees, but it doesn’t have to be that way. Before the big day arrives, or today if you’re already retired, create a list of those things you’d like to accomplish. One of the principles to happiness is to always have something to look forward to. Creating a list of must-dos can be a wonderful exercise for retires to inspire that next big or small adventure that will keep vitality high and happiness a regular practice.
For a successful retirement, the financial planning needs to be right; the numbers need to work and the strategies must be flexible enough to account for changes in circumstance. Once that plan is in place, getting the rest of your priorities sorted and agreed upon can create the fulfillment you’ve always dreamed possible in a retirement, well-lived.
Do you have enough?
Retirement Income Planning is one of the most critical components of a successful retirement plan. Confidently answering the question, “How long will my money last?” can go a very long way toward retiring with the peace of mind you deserve. If you’d like to take advantage of the many tools we use to develop a detailed, written retirement income plan, contact us today. Through the use of our Review Process and state-of-the-art planning software, you’ll sleep better at night knowing you’ve secured enough income to last as long as you do.