Other Retirement Facts:
We tend to cover a lot of the Xs and Os when it comes to retirement planning. We talk about accounts, risk, investments, and more. So today, we are going to be discussing what it means to live the retirement dream. What are we actually planning for? Unfortunately, retirement is not like the commercials we see with couples enjoying their retirement on yachts and fancy beaches. We have to think about what our day-to-day will look like. What will make you happy?
Who are you going to hang out with during retirement? You may be burnt out and want to spend time with yourself and your spouse. But having a social circle is important to a lot of people. You won’t be seeing the same coworkers every day. A lot of people get bored during retirement so you should think about who you will enjoy your newly found free time with.
You are going to be spending a lot more time together if you are married. For the most part, we haven’t spent 24/7 with our partners before. The pandemic, gave many of us a view into what life together could look like during retirement. You’ll want to think about the individual hobbies you’ll take up. How will you fund these hobbies? Some are more expensive than others.
As you enter your first few years of retirement it can be a big adjustment. Maybe you plan to go out more to try new restaurants and visit new towns. You’ll want to think about this ahead of time even if it seems like something small. It will add up! Or maybe you decide you want to host more gatherings. Will you need to remodel the house at some point? Creating a budget before you retire can be a great way to ensure your plan doesn’t become unbalanced once you are actually in retirement. You need to know what your retirement lifestyle will look like. Talking through your dreams is important and can be fun! Discussing your retirement dreams before you reach retirement allows you to make adjustments. It’s not always about the big dream, but the daily dream. What will your retirement day-to-day look like?
Listen to the entire episode or skip ahead using the timestamps below.
[0:44] – We are into November!
[2:00 ]– Our social circle
[3:54] – Couples in retirement
[6:30] – Going out or staying home
[8:45] – Remodeling the house
[11:56 ]– Finding something to do
[13:58] – Funding your lifestyle
A Quotable Moment:
“The first year of retirement is always the year that’s tough to figure out…”
-Phil Putney
