Happy New Year to you all. I hope that you enjoyed your holidays and you are enjoying your retirement planning.
Today I thought I would share some of the wisdom I learned from those retirees I interviewed for my newest book: Filling the Blank Page: How to Build a Retirement of Passion and Purpose.
“What advice would you give someone who is going to retire in the next 6 months?”
Here are some of their responses – in no particular order:
- · Don’t be afraid and prepare a list of some needs/wants
- · Put together a list of goals, trips, hobbies that you want to do.
- · Determine what you want to do next.
- · Retire as soon as you can
- · Have a plan or a passion that will fill your time in a meaningful way. We all need to feel our life has meaning.
- · Have an idea of how you want to spend your time – hobbies, travel, volunteering, etc. Review your costs and expected income to determine what you can afford.
- · Have a plan in mind for your life after retirement. Decide whether or not you may want to find a part time job, volunteer, travel, etc. Be aware of your finances.
- · Be prepared for you having to set up your day, week etc. No work to dictate 8 to 10 hrs. of your day. Need to find things to fill that time. Financials in order allows you to enjoy it.
- · Compare income to monthly outgo and make adjustments as needed.
- · Find a good Medicare agent
- · Don’t be afraid of the unknown. If you embrace the retirement lifestyle, it’s really great. You’ll have more time to “say yes” to activities that you could not when you were working. Travel, volunteering, coaching, consulting, enjoying the MN outdoors, etc. etc. My days are packed with activities with more things waiting on the sidelines.
- · It’s a big change but you’ll love it.
- · Look into what inspires and motivates you to be a positive person.
- · Give yourself some time to relax before you jump into a part-time job or something else to do with your new found “freedom.”
- · Start communicating your planned retirement to your stakeholders, customers and employees where appropriate Slow down as the date approaches and stop taking on new commitments unless they can be reasonably delivered before your retirement date. The last thing you want is to leave a lot of unfinished business when you retire
- · Travel while you are healthy and able. There is so much to see and do in the world. Volunteer where your passion lies. Not only are you giving back but meeting wonderful people.
- · It’s good to have a group of friends and an undemanding routine activity or two.
- · Take six months off and don’t volunteer for anything. Determine what you want to do with your time. Pick your favorite nonprofit organizations, charities, church, etc. that you want to become more involved with. When you retire, everyone assumes that you have nothing but time and get you to volunteer to join groups, become a board member, and other things that you may or may not be prepared to do. I was on four nonprofit boards within a couple months of retiring. I certainly wish I would have taken some time to determine where I was going to spend my time because it is impossible to do everything.
- · Give yourself time to “feel” retired and then get back to discovering and living out the person God intended you to be.
- · Find a new hobby or charity to become involved with. Exercise and stay active! I volunteer with the Lions Club and receive certification in both Sight and Hearing Screening. Find a way to give back and share for the blessings you have been given.
- · Have a plan. Financially of course, but lifestyle as well. Don’t just dive in with no concept as to how it will work.
- · Make sure you have plans for how you will spend your time each day. It will keep your mind sharp, keep you productive, and reduce any potential initial boredom. I always start my day with coffee and the NY Times crossword puzzle, followed by either a dance fitness, line dancing, or Pilates class.
- · Do your research and decide on your medical insurance coverage. Have several fun activities you enjoy that will keep your mind active and exercised. Reading, crosswords, games, creative hobbies.
I hope you found at least 1 or 2 helpful bits of advice in this list.
Do you have any advice you think I missed? Please leave a comment and let me know what should be added to this list.
