With thousands of boomers retiring each day, retirement planning has intensified to include ways to increase their self-assertiveness, finding purpose, living within a budget, and many other critical topics. But where to start with your planning?
The first step is to imagine your retirement. Ask yourself questions such as:
- What makes me happy?
- How am I spending my time?
- Who is in my retirement picture?
- How do I take care of my health?
- What kind of projects am I working on?
- How am I having fun?
Once you have drafted a preliminary outline of your retirement, it’s time to ask yourself if the plan will truly meet your needs and wants. We all know what you are retiring from – our job, boss, company, occupation or trade – but what are you retiring to? Is your retirement going to bring you the satisfaction you desire and deserve? To answer this question, you need to have a good idea of what will make your retirement life meaningful.
Step two: One of the exercises I include in my new book, Retirement: The Ultimate Life Journey, is identifying your needs and wants and asking which ones are important enough to be included in your retirement planning. Some common needs and wants are achievement, challenge, family, financial security, and recognition.
Step three: Visualize a retirement that meets your top six (6) prioritized needs. Your vision should satisfy your personal wants and needs. If your retirement vision does not reflect what’s important to you, then your retirement plan will be out-of-balance, and the outcomes will simply not feel right.
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The quality of your vision and your retirement is up to you. It is true that the visualization process and drafting a balanced retirement plan take time and effort, but I can assure you, it is very worthwhile. A well-thought-out vision acts as your anchor and your compass for direction and future decisions.
To order: Retirement: The Ultimate Life Journey (available in both print (click here) and e-book (click here) formats).
For additional insights, visit www.whencaniretire.ca. Direct contact: ramgt75@rogers.com.
Rick Atkinson, Founder/President, RA Retirement Advisors.