After a long successful career, many ask: Where did the time go?
Throughout your career, you probably had to plan for the future…but why do so many find themselves uncertain as they enter retirement?
Often our careers feel like a sprint rather than a marathon. And during a sprint, there’s no time to prepare for a phase of life that seems so far in the future.
Here are five practical tips you might consider as you close one familiar chapter of life and open a new, unfamiliar one.
1. Be Proactive
Start your retirement planning while you are still in your successful career. You may be doing that financially, but don’t forget about the emotional side of the equation. Don’t get caught thinking you will figure out what life will look like once you get there.
2. Take Some Time
Don’t be tempted to fill the void and accept invitations and opportunities too quickly. Practice saying “no” for a bit. Remember, you’ve worked hard, and depending on your career, it may be the first time you can answer to yourself, so take advantage of it.
3. Be Prepared to Meet a Different You
A self-assured busy career can sometimes be filled with self-questioning and self-doubt after your career is over. During your career, you probably solved lots of problems. Your identity may have been formed by the people who walked in and out of your office daily. Now you may uncover some new traits of your personality that you like…and others you don’t. Take time to get to know yourself again.
4. Don’t Forget About Your Spouse
If you have a significant other, who has patiently been waiting for your retirement, it may be time to sit together and align your expectations for the next part of your journey.
If your spouse wants to travel but you want to continue working in an advisory capacity, it would be great to develop a plan for a unified team moving forward. Plan your time allocation with the right balance for family, personal, and post-career opportunities you are considering.
5. Make a Plan to Give Back
Studies show that retirement’s philanthropic side can provide health rewards and payback far more significant than our for-profit work. Perhaps this is time to begin distributing your wealth to make a difference in the world. Consider serving and mentoring on a board that would benefit from your years of experience.
If you or someone you know needs help mapping out your retirement journey, give us a call and let’s find a time to connect.
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Any opinions are those of Alex Greene and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.
Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.