Life After Work – Success or Bust!

So, you’re thinking about retirement! When most people think about life after work, they imagine turning their back on the pressures of employment. They often see retirement as a welcome change or an escape to something more peaceful and serene.

But retiring is not only about giving up your job and relaxing, it’s about entering one of the most exciting and challenging stages of life. It can be a time to draw upon your personal and professional experience to open new doors of opportunity and education. It can be the time when you realize your potential and accomplish significant goals previously delayed by the responsibilities of working and raising a family.

In recent surveys, pre-retirees reported the following:

50-75% report feeling financially insecure
55% don’t have a comprehensive vision of retirement
49% are not prepared for retirement
36% don’t know how to spend their time in life after work
71% don’t have a retirement coach or mentor
Up to 83% are not getting help from their financial advisor or employer outside of money

Planning for a Successful Retirement

Successful retirees recognize the need to plan for happiness and productivity. They evaluate what’s important to them and construct actions to satisfy their needs and wants.

If you are 45+, it’s time to explore your future as a retired person.

Define retirement: What does the word “retirement” mean to you? What is it about retirement that attracts, scares, or excites you?

Brainstorm retirement: What are you doing? What are your accomplishments? What makes you happy? Who is in your retirement picture? How is your health? Make notes.

Imagine retirement: Imagine yourself in one and three years after retiring. Does your mental picture change?

Visualize later life: When you’re 90, 95, or 100-plus, what are you most proud about? What have you done that brought happiness to you and others? What will you be remembered for?
Define a successful retirement: Think about people you know who have made a success of their retirement. What do they do that you admire? Is it their family relationships, their energy and enthusiasm, or perhaps their sense of being?

Define a challenging retirement: Think of those who are challenged by retirement. What are they doing or not doing that makes them, in your opinion, less successful? Is it the abnormal amount of time they spend watching TV, their lack of adventure, or their sense of helplessness in an ever-changing world?

Record and share your retirement vision: Share your vision with your spouse or partner and several close friends. Explain in detail what you are doing, the new activities you are attempting, who you have as a support system, where you are living, your health and diet, and all other aspects of who you are and where you want to be.

As you describe your vision, make note of what questions come to mind and those asked of you. Fill in the grey areas. Ask for suggestions on how you can achieve your goals. Brainstorm ideas and solutions. Make changes as necessary. At the end of this process, you should have a clear picture of your retirement life.

Retirement’s Anchor and Compass

It is true that the visualization process and drafting of a balanced retirement plan take time and effort, but it is very worthwhile. A well-thought-out vision acts as your anchor and your compass for direction and future decisions.

Rick Atkinson, (a.k.a. Mister Retirement), President of RA Retirement Advisors, is an expert in holistic retirement planning. He is the author of best-sellers such as Don’t Just Retire – Live It, Love It!; Strategies for Retiring Right!!; Why Me? And No Gold Watch!; Life After Work: Live it, Love it!; Coaching Clients for Retirement – A primer; Retirement: The Ultimate Life Journey. He created the workbooks, The First Step! and Strategies for Retiring Right! Rick is available for personal coaching and mentoring.