“Often when you think you're at the end of something, you're at the beginning of something else.” Mr. Rogers.
Thinking about your answers to the following questions can help bring your retirement vision to life:
What does the word "retirement" mean to you?
The idea of a traditional retirement doesn't fit many of our ideal notions anymore of how we may want to spend our future. You may want to travel, volunteer or spend more time with your family. You could also be ready to spend more time enjoying a hobby or even start a new career. Is working part time or volunteering an option or desire for you? Having a plan of what will fulfill you during the next phase of life can help you start to envision what your days may look like.
How will leaving the workforce make you feel?
You've probably worked most of your adult life. Making the switch can be a big adjustment. It's normal to be excited yet have some doubts. You don't have somewhere to go every day. Are you OK with that? Do you have other things you want to do? Money is only part of the picture. Make sure you've thought through how you actually feel about retiring.
What’s the first thing you want to do when you retire?
Write down the first three, five or 10 things you want to do – and don’t expect to achieve them all in the first week. Remember, you’ll have plenty of years to fill with the things you want to do.
If you have a spouse or partner, is he or she on board?
Does your spouse or partner want to retire when you do? If so, what's your health insurance situation? Is working part time or volunteering an option or desire for you? If you want to travel, does your partner? Talk to your partner about his or her ideas about retirement. If you have different visions, discuss them and find some common ground. By talking now, you can work together to make the best of retirement for both of you.
If you have children, how do they feel?
Talk to your children about their – and your – expectations. For example, do they expect you to offer childcare or other favors after you are no longer working full time? If necessary, decide on ground rules and boundaries ahead of time. This can help prevent uncomfortable conversations down the road.