What Might You Miss in Retirement?
We dream of retirement, but it often doesn’t live up to the hype. One reason is that we don’t consider what we will MISS when we are retired. Another is that we don’t plan how to replace those aspects of our lives.
Many retirees miss work. It made them feel useful and was something to look forward to each day. Before you retire, decide where you are going to find meaning. Will it be the grandchildren, a hobby, travel, volunteer work? People who “reframe” their lives instead of “retiring” are happier.
Others miss the built-in social life. Work provided socialization without effort. There were always people to talk to (at least before COVID and working at home), and you didn’t have to plan much to see people on evenings and weekends.
Think about how you are going to build a new social life. Will you join a church or club, take a class, reconnect with people you lost touch with years ago?
They miss having disposable income. Once you are retired and on a set income, it takes more planning to be able to afford a special trip or purchase. Making a financial plan now can allow you to maintain the lifestyle you enjoyed while working.
Make a Life Plan
Drawing up a Life Plan challenges us to think about what we want. It should include meaningful goals in seven major areas:
- Faith
- Fitness
- Family
- Finances
- Fun
- Firm (your job or volunteer work)
- Friends
Decide which area matters most to you, then next and then third. Put them in your calendar. For example, if fitness, friends and fun are your top three, schedule walks in the park, coffees and evenings out with friends.
Schedule your priorities rather than prioritizing your schedule--now. Then you’ll be in rhythm by the time you retire.
Prepare for no regrets
People who neglect family because of work often regret it. Those who don’t take care of their health are sometimes not physically able to do what they want in retirement. Ones who were frugal may look back and feel they missed out on fun. Spendthrifts can find there are no savings to do what they planned in retirement.
Build in balance so you can enjoy your life now. None of us knows how much time we have. Plan today so you can keep enjoying life tomorrow.
Schedule time to talk at:
https://kellyfinancialplanning.com/contact
This content is developed from sources believed to be providing accurate information and provided by Kelly Financial Planning. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.
