The idea of retirement can be incredibly appealing—more time with friends and family, traveling the world, playing golf, or hiking your favorite trails. But have you considered the non-financial aspects of retirement and what you might be leaving behind?
Your career likely offers more than just a paycheck. The relationships you’ve built at work may be deeper than you realize. Once the retirement party ends, those daily interactions often fade. For many, work provides a sense of identity and purpose. Letting go of that can leave a surprising void. And while it may not seem like it now, the hours once filled by your job can be challenging to replace, especially when retirement might last 30 or even 40 years.
So ask yourself: What will get you out of bed in the morning? What will give you purpose? What are you passionate about? Who will you be spending your time with? How are you going to connect with people who are in the same stage of life as you?
Retiring to something, rather than just from something, can make all the difference.
Maybe you’ve put lifelong dreams on hold during your working years. Now could be the time to pursue them. Perhaps you’d like to give back by volunteering with an organization that matters to you. Or maybe you’ve always wanted to learn a new language, master an instrument, or dive into a subject that fascinates you. Some retirees even channel their professional experience into launching a new business.
Though I’m not retired, as empty nesters, my wife and I have a little more time on our hands. Two years ago, I joined the Walnut Creek Creekers 50-and-over slow-pitch softball league. We play every Tuesday morning at Heather Farm Park in Walnut Creek, and I’ve met some great guys. Additionally, my wife and I volunteer with Mobility Matters to take seniors and veterans to appointments and help run errands.
Over the years, my colleagues and I at Elevation Wealth Partners have counseled hundreds of clients as they prepare to retire. Ideally, the journey to becoming “retirement ready” starts at least five years before you actually plan to sail off into the sunset. There are several great books on how to prepare for retirement. Among our favorites are:
How to Retire: 20 Lessons for a Happy, Successful, and Wealthy Retirement by Christine Benz
Die With Zero: Getting All You Can from Your Money and Your Life by Bill Perkins
Whatever your vision, make sure you have a plan for this next chapter. That way, you’ll not only know that retirement was right for you, you’ll know it was the best decision you ever made. As always, all of us at Elevation Wealth Partners are here to be a resource for you, as well as for those important to you.
