For many people, retirement is a reward they’ve been looking forward to for decades. For others, it’s a scary prospect. Many of us derive our personal value from work achievements or other outside forces. If this is the case, retirement can represent a major loss of power, status, and self-worth.
If you’re putting off retirement planning, ask yourself why. There’s a chance it’s because deep down, you’re fearful of what's to come, or simply uncertain about what’s on the other side of that invisible wall. If this is you, you’re not alone. The fear of the unknown is very real. But retirement can be a phase of life that’s filled with joy, fun, and satisfaction--it all depends on you!
To get you into a positive mindset about your future retirement years, let’s take a look at some things you can look forward to as you approach this next life phase.
1. Achieve Greater Life Balance and Enjoy More Spontaneity
Your financial advisor may have you thinking that retirement planning is all about the money. At Wealth Legacy Institute, we challenge our clients to think not only about saving for retirement, but also living in retirement.
Retirement is the perfect time to reclaim your sense of awe and spontaneity in life. The lack of a rigid schedule gives you more freedom. You can have lunch at whatever time you choose. You can sleep in or wake up at dawn. If one of your grandkids makes it to the state championships, congratulations! You can take a last-minute trip to cheer them on.
Naturally, you may still crave some routine in your retirement years. You can create that through things like volunteer opportunities, classes, and social outings. It’s all about finding the right balance of routine and spontaneity that works for you. Retirement (and the retirement plan that helps you get there) should be all about designing the retirement lifestyle that you truly want.
2. Become the Person You’ve Always Wanted to Be
A good retirement investment plan will help you remain financially secure in your later years. More importantly, though, planning for retirement now gives you the freedom to explore later.
Whether you’re retiring in Denver or any other city, this is your chance to get out of your comfort zone. Explore new hobbies, try new foods, learn new skills, and visit exotic foreign cities. Retirement is your chance to do the things you’ve always wanted to do in life!
Some people start a side business, learn an instrument they previously hadn’t had time to pursue, or finally earn a degree. Others find relief in having the freedom to slow down and enjoy a simpler life.
3. Escape Outside Pressures
For many of us, society sets the agenda for our lives. Social conventions have taught us what we “need” to earn, “need” to buy, and “need” to accomplish in this life. Retirement changes all that.
When the work of retirement planning is done and you’ve left the office life behind, many of life’s societal pressures fall away. You don’t have to get up and look your best every day for your coworkers. You don’t have to please your boss or worry about office politics. And you definitely don’t need to buy fancy clothes or live in a big house, just to “keep up with the Joneses”.
One truly priceless benefit of your retirement years is that you can quit worrying about what others expect from you, and begin concentrating on you. The right financial advisor will help you figure out what your ideal lifestyle looks like, and then create a plan to achieve it.
Start Planning Now for The Retirement Lifestyle of Your Dreams
For a retirement that’s fun, vibrant, and fulfilling, you need a solid game plan. A fiduciary financial advisor such as a CERTIFIED FINANCIAL PLANNER™ (CFP®) will help you make strategic decisions to help you achieve your retirement goals.
If you plan ahead for your financial and emotional needs now, you’ll be that much more prepared for whatever comes your way. Our goal at Wealth Legacy Institute is to help you have enough to enjoy the things you want, so you can thrive in your retirement years. After all, retirement is not the end--it’s only the beginning!
Are you ready to kick back, relax, and start enjoying your new retirement lifestyle? Take the “Retirement Readiness Quiz” to find out.