One of the things that we discuss with our clients that does not necessarily relate to the dollars-and-cents of retirement planning is: What will you do to have a purpose in your life in this next phase?
A lot of people have a preconceived notion—a retirement myth of sorts—that we want to debunk. That myth is that this next phase is supposed to be all about golfing and having nothing to do. While certainly some of your retirement time should be spent that way, you can’t devote all of your time to that and still have a purpose.
One of the exercises that we do regularly with clients is ask them to think about this next phase more deeply and more deliberately. We ask how they plan to fill their time in ways that will make them feel fulfilled. We recommend that they sit down with a month-long calendar and write down what they will do each day. Of course, some of those days should have no obligations. Others definitely can be devoted to hitting the links.
But at least some of that time should be spent doing things that will get you out of bed that morning, motivate you, and accomplish something valuable for your family and your community! This could include volunteering for charities that you care about; being more of a support person for your family in many different ways; or even starting a new business, not out of financial necessity but just because you want to. Maybe you are really passionate about something that has been a hobby for a long time, and now you can spend more time on it and be productive. The sky is the limit!
This exercise is designed to help you think as deeply as possible about your vision for this next phase and how it will match reality. If you would like to talk with us about this exercise, additional exercises, or other ideas about preparing for this next phase, we would love to talk with you. Please click on “Start the Conversation” below to contact us. Thank you and have a great day!
Published: November 25, 2015
Author: N. Perry Moore, CBEC™, CFP®, MBA
Phone: (812) 602-6306
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