Retired “Single”
What do you want to do for the next 30 years?
This article is modified and is an excerpt from Teds original Book. Included are parts of a few chapters to give examples and get you thinking.
Ted Buckley has spent years helping people plan financially for retirement. But retirement is about much more than money. That’s why in “Retired! What Do You Want to Do for the Next 30 Years?”, Ted covers everything about retirement except the money. Once you’ve got your money on the right trajectory, it’s the day-to-day aspects of retirement that you need to work on—how are you going to make 30 years of retirement the happiest time of your life! You will find ideas that will change your retirement years for the better. It’s all covered in this book!
Are you anxious about the day-to-day change of no longer working? You may be confident about the retirement plan or your investment plan, but this book could get you ready for the part about being happy!
Even if you have been retired for years you can still uncover areas that are NOT about the money that can surprise you and bring smiles on your face. This book may help you to learn how to enjoy yourself in retirement!
Financial Preparation + Mental Preparation = Happy Retirement
PART 1 REALISTIC EXPECTATIONS
You've likely sent a kid or two to college. If so, you've certainly discussed how college is a perfect place to invent or reinvent oneself. Retirement is the same type of thing! NOW is the time to reinvent yourself, live your dreams—don't settle for ho-hum—be bold—be the best you!
You have just entered a brand-new stage in your life and are about to face massive lifestyle changes and opportunities. Don't just slouch toward retirement because this is the last stage of your life, and you think you're done. The curtain is opening on your closing act, and it's going to be an epic performance. Plus, you may not get an encore. It should feel great to know you have potentially one-third of your life in front of you full of significance and excitement. It is time to develop a thoughtful, balanced plan of what a happy retirement looks like to you.
Keep in mind that age imposes limitations and going skydiving is probably not a reasonable expectation for everybody. But don’t sell yourself short on your dreams. The reason why people say that age is just a number is because it is. The good news is that a purposeful life in retirement is possible, and many seniors find it. Have realistic expectations and build this part of your life by planning exciting and meaningful experiences with family, friends, blending hobbies and social activities to create a well-rounded life.
As an adult, you've identified with your profession, family, friends, and family members. But when you settle into retirement, sometimes you find it hard to create a new identity when your focus shifts.
It may take time and even more effort to achieve a version of you ready to participate in a fulfilling retirement, but it is worth it. After all, you did not get to where you are today by avoiding life's challenges. Like adjusting to college or your first job with serious responsibilities and tangible compensations, you had to adapt your style, manner, and lifestyle to fit the new situation. It's the same with retirement. Only this time the boss is you! You set the rules. If you want to give yourself a boatload of vacation days, that is up to you. While you are at it, give yourself a raise. You deserve it!
As with any significant change in life, you will feel more comfortable embracing this new phase of life once you have firm ground under your feet. Keep in mind that this ground doesn't have to be your home ground. You can do things that a work-life didn't allow easily, like traveling the world with your partner and living abroad while writing the book you've always wanted to write.
I see retirement as having five stages. They don't necessarily go in a particular order. One stage may happen twice or more. For example, you may deal with an illness from which you recover. Your energy may wane, but then you do something like make a drastic diet change, learn meditation, find good supplements, and you feel your full capacities coming back. So, here's an overview of the five stages, and then I'll go into more detail about each:
5 Stages of Retirement
Honeymoon - Finally! But you don't yet have a working understanding that it's not a two-week summer camp full of fun and excitement.
Settling In – You've got a great routine. You're enjoying life. You're healthy and on a roll.
You've Got This - Now professionally retired, you know the places to buy gas for less, the good restaurants and what they have for specials, and where to travel off-season.
Slowing Down - You can't ride that bike so much anymore, but a walk is good too, no more lifting the grandchildren. Climbing the Grand Canyon is out.
Health Limitations - You saw this happen to others; You just did not think it would happen to you—Cancer, Chronic Pain, Injuries, Alzheimer's, etc.
"How long does each stage last?"
That's the question I'm asked most frequently. Of course, it varies greatly, but the average is somewhere between 3 to 9 years per stage.
A lot depends on at the age you retire. A particular stage may last ten years for you—that's fine. The reason I break retirement into stages is so you're aware and make the most of what you can accomplish as you pass through each stage. ( complete chapter in the book) .