It is not too Late to Live the Life of your Dreams…

Retirement is a time of drastic change. Many people prepare financially for this period of life but fail to plan for the way they will live their life. Each person’s idea of retirement is unique to them. Your life choices are entirely up to you. Of course, if you have a spouse or significant other you should discuss your future plans. A few questions to ask yourself when planning your retirement life include the following:

  1. What does retirement mean to you?  How do you want your retirement life to feel? Are you looking forward to a slower pace of life? Do you want to travel? Do you wish to relocate? Do you want to spend more time with family? Do you want to do some form of work or volunteer for a cause you are passionate about? Do you want to pursue new hobbies or education? What can you do to continue your journey of personal growth?
  2. What do you want to spend your time doing? How will you keep up a social network? Are there any adventures you have always wanted to try? Have you considered living overseas? How will your days be structured? What will provide you with a sense of purpose? What are you passionate about?
  3. Are you and your spouse/partner in agreement about what you want your retirement life to look like? Do you plan to retire at the same time? What kind of budget will you live on? Will it be enough to fund the lifestyle you envision? Communicating with your partner about expectations, spending and shared responsibilities is key to a successful retirement.
  4. Have you considered your health and well-being? Do you have a plan for fitness and strength training?   Do you have a plan for health insurance?  What will you do if your health changes? Have you considered long-term care Insurance? Have you considered how and where you want to live if you require healthcare due to a disease or disability in the future? Will you have enough funds to provide extended medical care if needed? Do you have a will or estate plan and power of attorney set up for medical and financial decisions if something happens to you?
  5. Can you envision what an ideal life in retirement will look like? Give consideration to these life arenas to incorporate in to your life plan; family & friends, significant other/romance, career/purpose, physical environment, health and wellness, personal growth, money/finances, fun and recreation.
  6. Can you answer the questions; Who am I? What brings me the most joy in life? What unique gifts do I have to share with others? What can I do to help make the world a better place?

You are never too old to set another goal or to dream a new dream.” – C.S. Lewis