Most people spend their entire lives making money, which of course is needed to survive and have the things we want in life such as a house, nice car, etc. and to pay for raising our kids. But the entire time we are working, our minds are occupied with the thought of the next big thing in our career. How can I get that promotion, do I really want to stay in this job or should I go back to college and get another career started. One thing most of us don’t think about is how happy am I going to be once I stop working? What does that even look like, you may say. Well, if you are nearing the six-decade mark, you are thinking pretty hard about what that looks like now, aren’t you?
Spouse or kids? Don’t forget to plan for them!
Not everyone has a spouse, but the vast majority of us have at least a partner that we live with whether it’s for romantic reasons or just financial convenience. My point is that unless you are completely on your own, you must certainly plan your retirement with your loved ones in mind as well. Do you have or expect to have grandkids?
That is always a blessing, most certainly. But if you move to Mexico or Costa Rica, how will you visit them? Maybe that is part of the plan, to move far, far away so that you can take a little trip now and again to visit your children and grandchildren! Not a bad idea also, it’s all a matter of how much you think you will miss them if you do move away once you finally decide to retire. And if you have a spouse that has children from a previous marriage, they may want to visit more often than you would prefer – and this can cause some conflict! Be prepared for little things like this to become a possible sticking point once you are planning to move away from family, just saying.
One of the greatest things about retirement (life transition!) is the things you have time for such as travel. My wife and I wanted to make some really memorable trips, but work would always get in the way. As we got closer to that magical age where we could kiss those jobs goodbye, it was really nice to finally have a chance to travel to all, or at least most, of the places we wanted to go. I personally always wanted to go to Italy, as a fan of the Renaissance Period. Seeing the beautiful scenery of another country is a once in a lifetime event which most people crave after working hard for so many years.
I will say that planning a trip to Europe is half the fun, but really the trip itself is quite magical. Where do you see yourself travelling to after retirement? Who would be coming along? If you really want to treat the whole family to a trip to Europe like in the movie with Chevy Chase (European Vacation?) it could be a wonderful way to bond one last time with your children. Would it be two or three times as expensive, you bet it would. But the memories alone would be so wonderful it would most likely be the best thing you ever did as a family. Would you stay in a hotel, maybe an Airbnb is more to your liking? Another way to enjoy travelling, especially if you are staying in the U.S. is to go buy an RV and see the states! This sounds like the ultimate freedom vacation for some, for others it sounds more like camping and is not going to provide enough comfort for them.
What can you do once you are retired? Almost anything you want to, within reason! The best thing you can do, in my opinion, is explore every option you can before you actually retire. Of course, you can continue to explore your options after you retire as well, and I encourage you to do so. When I say explore, I mean learn as much as you can about everything that interests you in the least. Go to the library, check out a few books on hobbies, or travel, or how the brain works, or fiction novels.
Even if you aren’t a big reader, you can still learn quite a bit by just one website – Youtube! Want to learn how to fix your toilet? How about the best way to cook a turkey on Thanksgiving? Learn a language, learn to program a computer, learn to play a musical instrument even, nearly anything can be learned on Youtube. There are also more streaming options available these day where you can learn a new skill or advance your knowledge, one example is Wondrium – a great place to learn almost anything. Here is the web link: https://www.wondrium.com/. Learning is also very easy and pretty cheap online at sites like Udemy.com where courses are available on everything from cooking to computer programming to learning to play an musical instrument.
Some people like to write out a “bucket list” – well I have a better idea. How about writing out a “do it list” where you try something new, something challenging, to expand your mind and experiences in life. Not only is it fun, it is also challenging if you choose the right things. Have you always wanted to try yoga? Now’s your chance. How about rock climbing? Go ahead, try that too. Expand your knowledge and your life experience!
Whatever you decide to do in retirement, make sure you have fun. This is your time to enjoy life!
Planning for your retirement can be tricky, and there are questions you have like everyone else. If you want to learn and explore more ideas for yourself, check out my book here for more information:
http://www.amazon.com/dp/B0D3S2V9VM
Happy retirement planning!