Retirement: Why You Need to Plan Ahead Sooner

Retirement in the 21st. century is a new concept. The transition from full time work to full time retirement is a new stage in life that may take many years. It is time to start imagining your life with a thirty year bonus!

There is no model for current retirees to follow because there has never been a time in history such as the one we are presently in.

Traditionally, retirement was seen as an ending of one's functionality leading to a life filled with empty leisure. This certainly was a boom for the leisure industry. Now, this plan no longer works financially for most people or is enough to give life purpose and meaning.

Where are you in this process? 
 
Even though people are living much longer, many continue to want to retire earlier than 65. Since the recession, the average age of a first retirement is in the late 50's to early 60's. In the U.S., about 10,000 people retire every day, and they may live 30 or more years. Because of the longer life-span, old age is now considered to start around 86 years of age.
 
Some pre-retirees have planned ahead financially for a longer life span; others are starting to meet with a financial planner to put a plan in place. There are many that have not begun the financial planning process.
 
However if you only plan for the financial part of your life, you may struggle to make this new stage in life fun, rewarding, and fulfilling.
 
It is equally important to plan for how you want to spend your time, what you want to be doing, and who you want to spend time with. The number of choices you need to sift through and decisions you need to make can seem overwhelming.
 
I hear different reactions to the planning process. Some jump in to figure this stage in life out while others say it will automatically fall into place. In general, men really struggle – especially hard-working entrepreneurial types. Usually their identity has been wrapped up in the business they created.
 
Both men and women need to find ways to continue to use their strengths in a meaningful way during this stage of life for physical, mental, and emotional reasons. With so many choices available, a lot goes into planning your ideal retirement. Avoiding the risks and getting it right takes some time.
 
My mission is to help you create a retirement you really want rather than take the one that just shows up. This gift of time, aka The Encore Years, calls for an expanded capacity for living and loving each day.
 
My hope for you is you will have the answer when you ask yourself: How can I learn to live and love better today?
 
Click on the comment link below and let me know where you are at in the planning process.
 
Until next time,

Maurine

 

 

 

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