Can You Add By Subtracting?
For many people, this nagging question never goes away. Fortunately, I do have some insight to share. One of the benefits of working exclusively with one particular demographic group (in my case, future retirees) is that I have the ability to see patterns and repeated behaviors in my pre-retired clients.
How to Create a Post-Retirement Lifestyle That Works
While it’s crucial to make sure your finances are solid before you retire, there’s another component to consider. In my opinion, we desperately need to start emotionally planning for retirement well in advance of pulling the plug on our traditional careers. Pre-retirees need to dedicate substantial time to developing habits, hobbies and relationships now to ensure happiness and contentment in retirement.
Finding Your Post-Retirement Purpose
If you don’t have a purpose beyond your career, you won’t magically find one once you quit working. Unfortunately, not having a purpose in retirement can leave you stressed, unhappy and downright bored. My happiest retired clients are the ones who are so busy with part-time work, volunteer work, hobbies and grandparenting that they can barely find a few minutes to come into the office for a visit.
If I’ve seen it once, I’ve seen it a hundred times – a retired person with no life purpose quickly becomes bored. Unfortunately, bored retirees usually try to alleviate their boredom by spending money. Spending money as a part of a written financial plan is fine, but throwing money at an emotional problem is rarely a proper, permanent solution. Not to mention that outsized spending will eventually leave you broke, adding to your problems.