Before you go plan for your departure. Amass all the money you can muster to stuff into a 401k plan. Be kind to your successor and work family by offloading all your work wisdom whether it be tactical or strategic. Don’t be shy, share your knowledge. Decide if you want to offer your services back to the company after you go as a Consultant.
And most importantly, really sit down and think about what you will do after you go. Make a plan that covers how you will spend your time. How you will finance your new life. With whom you will spend your new life. And most importantly what shape is my health in and how can I improve it or keep it at an optimal level. Retirement only feels as good as you feel.
The next thing to think through is where you want to live? Do you want to go to a warmer climate, be adventurous and buy an RV and hit the road? Move closer to your kids if they moved away or just stay right where you are? Here are the big things to think about. The age of your current house – will it need a new roof soon or is it time to modernize that kitchen or the master bathroom? All decent expenditures that you can afford in your mid-sixties but probably not in your mid-eighties.
Next is building your new social circles. Are you happy with your neighbors? Because you are about to spend a lot more time with them than you have previously. Do you see yourself making these neighbors part of your new intimate social circle? If you’re a golfer is the weekday crowd as good and fun as the weekend warriors you know so well? Or are they too old for you? How are your chauffer skills these days? Ready to drive your grand kids here and there because your daughter is busy building her career and she can really use your help.
How about your relationship with your spouse? Did you know that the fastest growing group of the population divorcing is the newly retired? Yes, your new retirement lifestyle will also mean a change in the rules of engagement with your spouse. You see if you think it’s going to be lunch every afternoon and a roll in the hay at least three times a week put that men’s health magazine down and start talking to your spouse about their expectations on how they want to spend their time with you daily. It might really shock you to find out their perspective. Start watering those plants Larry!
So how do you retire on your terms? Well, ask a lot of questions of the ones closet to you on what they foresee in your retirement. Think long and hard about your physical surroundings. Understand that most of your close work friends will fade away within the first year. And finally is the healthcare in my current surroundings the best it can be because you’re going to be needing that sooner than you think. Retirement can be an awesome time you just need to be ready for it, plan for it and then just live it.
Just because you no longer don’t have to go to work today or any day doesn’t mean ice cream and cake for everybody every day. What it means is you need to be ready to completely change your life again just like you did those few years after you graduated from college. But you say to yourself but this time is different because I know a lot more but is it really?
Without a plan retirees flounder and get stuck on what is life all about now? Don’t let that happen to you. Be wise and engage a Retirement Coach to help you plan out that retirement of yours in a way that is free of anxiety and full of ice cream and cake!!