Blog
Retirement opens up the time to try new things. The question is what to do with that time. Gardening in retirement has become one of the most popular answers, and for good reason. It gets you outside, gives you something to tend to each day, and produces results you can see. And in the case of a vegetable garden, eat.
Transitioning from a lifelong career into retirement is exciting. It can also be disorienting. The structure, schedule, and sense of purpose that once shaped your days are suddenly gone, replaced by open time that doesn’t always feel as freeing as expected. Without something to anchor it, that freedom can quickly turn into a lack of direction. So the question becomes: what will take its place? For a growing number of retirees, the answer starts with adopting a dog.
Many seniors head into retirement dreaming about an "endless vacation."
But if you're retiring around age 65, you're hopefully looking at 20 or 30 years of retirement.
That's more than a vacation. It's an entire third act of your life.
And we all know that no matter how great a vacation is, when it's over, we're ready to go back home, back to our normal routines, back to our friends and family, back to ...
Work?
Let's discuss how redefining what work means in retirement can be more fulfilling than stopping work altogether.
As Life-Centered Financial Planners, we always want your finances to bring a smile to your face.
But for most seniors, it's your spending that's going to "smile" as you age through the Go-Go, the Slow-Go, and the No-Go years of retirement.
That's because spending, like life, doesn't progress in a straight line. At every stage of retirement, your needs are going to change, your goals are going to change, and your perspective on the future is going to change. It's important that you have a spending plan that's capable of supporting you today while also preserving your long-term financial security.
And it's also important that you avoid two potential pitfalls of the spending smile: spending too much too early in retirement or being too afraid to spend and really enjoy your retirement every step of the way.
Here's what to expect from the three stages of retirement and some tips on how to keep "smiling" across your whole Lifeline.
Retirement marks a new chapter, offering the perfect opportunity to explore passions that may have been set aside during earlier life stages. Engaging in the arts is more than just a way to fill your schedule–it provides a wide variety of benefits that are important as we age.
Creativity challenges the brain, enhancing memory and problem-solving abilities. It also provides an emotional outlet, helping to manage stress and create meaning. What’s more, art can open doors to the community. Joining a class or group connects you with other artists, fostering friendships and combating loneliness.
Whether you’re trying something new or rekindling a lost passion, the arts offer a world of possibilities. Here are 10 activities to consider:
Once your degrees are earned and jobs are secured, many doctors and dentists find themselves on the fast track to some major financial goals -- including, perhaps, early retirement. After all, between those extra years of studying and the daily demands of working in medicine, doctors and dentists might feel like they've worked a full career well before they hit their 60s.
If you're considering adding early retirement as a life goal, discuss these pros and cons with your spouse and your Life-Centered Financial Planner.
What's the right balance between enjoying your wealth in retirement and making sure your nest egg lasts all the way through retirement?
To answer that question, many retirees turn to a number: 4%. But as many of the assumptions about both personal longevity and economic stability continue to change, longstanding assumptions about spending and withdrawal rates in retirement are changing as well.
Each of these three withdrawal strategies can be useful in preparing a successful retirement spending plan. But is any one of them comprehensive enough to improve your confidence about your retirement and your ROL?
Unretirement is on the rise. According to a recent survey by F&G Annuities & Life, 29% of retirees are considering a return to work. That includes 54% of Gen Xers who retired early.
While many retirees jump back into the workforce because they are worried about running out of money or feel like they're lacking purpose, you can also approach unretirement from a positive perspective.
Here are three ways that unretiring might help settle some of your money concerns while boosting ROL in the process.
Moving to the proverbial beachfront condo or gated golf and tennis community are still popular retirement goals. Many seniors also plan to relocate to be closer to friends and family, to immerse themselves in their interests and hobbies, or to shake up their retirement routines with a little adventure.
But while retirees who want to move often focus on the financial and logistical challenges, relocating also involves some significant lifestyle challenges that shouldn't be overlooked.
As you're plotting your big retirement relocation, don't forget to discuss these three issues with your spouse and your financial planner.
