Creating a Retirement Lifestyle that Fuels Your Passions and GoalsApr 18, 2023
Retirement may seem like a distant dream, but time has a way of sneaking up on us. Do you know what you will do with all your newfound free time? What are your hobbies, goals, and aspirations? Do you want to travel and see the world? Imagine being able to visit every country and explore all the beauty each has to offer. There are so many amazing things you can accomplish in your golden years if you plan for them.
A study conducted by One Poll on behalf of Human Interest Inc, an Investment Advisory firm, revealed that many future retirees have big plans for their golden years. According to the study, 38 percent of the U.S. adults surveyed aspire to write a book, 34 percent plan to learn a new sport, 36 percent want to explore their city or state, while 34 percent hope to live in a vacation destination for a while. These goals are exciting and show that people have a lot to look forward to in retirement.
The reality of retirement can be quite different from what many expect if there isn’t a plan in place. Unfortunately, retirees are too often found to be in a state of mental health decline which is typically due to boredom and lack of purpose. Many people do not realize how much they enjoy a routine and how beneficial their work social settings are until they are no longer required to maintain them. In addition, many also overlook future large lump sum expenses such as car payments, home renovations, or a down payment to move. These are all great financial stressors in retirement, and it is crucial to plan for them.
As a financial advisor, I strongly encourage you to think about your desired retirement lifestyle. What are your hobbies, goals, and interests? It is important to come up with a new routine that gets you out of bed and doing things you enjoy. Don’t wait until you are no longer working to figure out what you enjoy doing with your free time. After all, retirement is meant to be the time of your life! Get ahead of the stressors and meet with your advisor to create a comprehensive retirement plan that includes all the necessary funding for your desired life outcomes. By doing so, you can make sure that you have enough money set aside for the things that you really want to do in retirement. With the proper planning in place, you can move to a new state, travel the world, learn a new skill, or pursue a passion project like writing a book. It's also important to remember that retirement is a major life transition, and it's normal to feel a sense of loss or uncertainty during this time. However, with careful planning and preparation, you can minimize the stress and uncertainty that often come with this transition.
In conclusion, don't let retirement catch you off guard. Take control of your future and start planning now. Speak with a financial advisor about your goals and aspirations, and work together to create a portfolio that will meet your needs. By doing so, you can ensure that your retirement years are filled with purpose, joy, and gratification. Don't wait until it's too late - start planning for your retirement today.