When you think of retiring, the planning you do leading up to that time is usually focused on the financial part. Do I have enough money to retire?? While that is extremely important, you also need to have a plan for how you are going to spend your time. Retirement is a huge transition in your life. Although you know it is coming, it is not unusual to experience a feeling of loss or loneliness… or even depression if you do not have a plan for how to spend your time.
Looking forward to spending more of your free time with friends and family is usually a goal I hear frequently. But keep in mind, friends may still be working or already have daily activities that are involved in. The same goes for family and grandchildren, although you have more free time for them, keep in mind they have a life and activities that take up time.
You often heart the term… Bucket List. I recommend having one to help with the transition, as they provide structure to your days. We have had clients tell us they are enjoying volunteer work, travel, reading, bus trips, crafts, photography, and joining a league – like bowling, golfing or the new craze – pickleball. Some find it as an advantage to work part time in the field they know or at something they always wanted to try.
You do have to weigh the reduction in social security benefits and less personal time but for some people it is easier. Another adjustment is being home more with your spouse. This is where communication and consideration of each other and individual interests are important. What you see in your retirement years may not be the same as your spouse.
To grieve or be a bit stressed at the loss of a part of your life that is over is more common than you think. A wise client once told me – Remember to retire to something and not from something. I use that example a lot.
My April tip is – Have a retirement itinerary.
You do not go on a long trip without one, so don’t go on to your retirement years without one.