Congratulations, you've reached the exciting life phase of retirement! Although this can be a challenging transition for many people, it can also be an enjoyable phase of life with the right planning and mindset. May you make informed decisions and enjoy your new-found freedom with a fulfilling lifestyle.
As a financial advisor, my job is to advise people on making the best financial decisions. However, I want to dive deeper with you into understanding how you can get the most overall satisfaction from your retirement.
You may be thinking that retirement is mostly about money. And there is some truth in that. After all, how can a person retire if they don't have enough money? Still, I would like to argue that the concept of retirement has less to do with your money than you might think – and everything to do with YOU. Retiring is not an economic event; it is a life event. And as such, it should take into account everything that your life is about.
Factors other than money contributing to a happy and active retirement include pursuing your wildest passions, travelling to new places, creating a legacy, spending quality time with loved ones, prioritising your health (both physical and mental), and continuing to learn new things. It's crucial to consider all aspects of life – from social connections to intellectual growth and emotional well-being – to ensure a vibrant and satisfying retirement.
Designing a retirement that reflects who you truly are is in your hands. Think of it as retiring TO and not from something. Retirement is not just leaving work behind – it is about moving towards something that excites you and will give you purpose and meaning. It is a chance to tap into your passions and find your "pull" factor.
So, what if working is what makes you happy? The good news is that retirement doesn't mean you have to stop working altogether. In fact, research shows that people who work after retiring enjoy a better life. The key is to fit work into your life rather than the other way around. You can restructure your hours, take on a less stressful position, or even work for the love of it without compensation.
Moreover, while considering your retirement, do not overlook one of your greatest assets – your physical and mental health. Your body and mind form the machine that carries you through the twists and turns of life; therefore, it deserves your investment. There is even a link between health and finances. Being healthy allows you to derive satisfaction from your resources outside of your health, like money. Additionally, the healthier you are in retirement, the more you can reduce the cost of direct and indirect healthcare expenses. Save up on this resource called health to get the most from retirement!
Lastly, I would like to encourage you to lighten up and laugh! As we age, our bodies and minds may not function as they used to, and the prospect of facing new challenges can be intimidating. Therefore, it is essential to find humour in everyday situations, tell jokes, and spend time with people who make you laugh. Laughter is good not only for the soul but also for the body. Studies have shown that laughter can reduce stress, boost the immune system, and even relieve pain.
You are not alone on the journey of retirement! I am here as one of your partners to help you make the best decisions for a joyful later life.
Read more about post-retirement planning, and feel free to contact me.