Retirement Planning – Four Critical Lifestyle Tips for Baby Boomer’s
Retirement Planning – Four Critical Lifestyle Tips for Baby Boomer’s
Wow! Retirement is right around the corner. This will likely be the first time since you were a teen-ager that you didn’t have a job or felt compelled to find one. Although retiring is exciting don’t be surprised if you have some reservations. After all this is a major change in your life.
Following are four tips to make sure your transition to retirement is a positive experience.
Get comfortable with your new identity. You used to be a postman, salesman, vice-president or some title in the business world. People referred to you as ‘that’ person and likely many of your friends had a similar job or worked in the same industry. Once your business identity goes away you need to replace it with something you can be proud of. Do you want to be know as a low handicap golfer, handyman or connected to a specific cause? The most common question your get when you retire is, what do you do with your time? The answer is entirely up to you.
Accept new roles at home. You are going to be spending more time at home. This changes the dynamics of the relationship with your spouse, which takes getting used to. Discuss ahead of time who will handle different responsibilities. Respect each others need for privacy. Try to determine when each other has access to commonly used things like computers or the home office. Bottom line; make sure your spouse gains enough freedom to enjoy retirement as much as you do.
Be pro-active. People often joke they will lie around and do nothing when they retire. Downtime leads to boredom, which leads to unhappiness. Determine what you want to do and actively pursue it. You will soon find out nobody is going to knock on your door and ask if you can come out and play. Right now you may be frantically busy, in retirement you should strive to be casually busy.
Set deadlines. Let’s face it, deadlines force activity. I’m certainly not advocating you create the grinding work environment your about to leave, however if you are accomplishing things you will enjoy retirement more.
Once a year honestly answer two questions. Is retirement what you expected? Are you happy? If you are honest with yourself you will be able to make the proper adjustments to either stay on track or get back on track. Some people determine they need a part-time job or maybe even go back to work full time. Since you are set financially you should do whatever it takes to make you happy and accept nothing less.
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