Community//

Your Ultimate Checklist to Living a Fulfilled Retirement

Start preparing now. Your future self will be thankful.

Retirement Planning

So, you’re at that point in your career — you’ve begun to think about retirement.

As you approach a transition point in life as important as retirement, it’s never too soon to upgrade your financial readiness for the road ahead.

To set the stage for success and a future filled with with confidence and possibilities, begin by working through the basics. When these basics are completed, your plan for life after retirement will develop much easier.

This includes:

  • Setting a budget.
  • Creating a financial plan that confirms your financial vision for the future is sound.
  • Making sure wills and estate plans are up-to-date.
  • Refreshing your investment objectives and strategy.
  • Reviewing your health and long-term care insurance needs.
  • Understanding when social security and pension payments begin.
  • Making sure you have a professional team in place to support your investment, accounting, insurance, and legal needs as they arise.

After these steps are complete, next is to explore your ideal outcomes for this next phase of your life. You might benefit from the support of a trained wealth coach or advisor, as future vision casting can be challenging for many people and couples.

Get started by asking and answering questions such as:

  • What does success look like now? (Professionally, financially, personally)
  • What would bring you the most purpose and meaning in retirement?
  • What does your ideal life look and feel like five (or ten) years from now?
  • What are the challenges, fears, and worries you might be facing?

Reshaping your identity from the current role you’ve been in for many years to something new can be an emotionally challenging endeavor. I vividly remember sitting with a retiring CEO who became choked up as he told me how hard it would be to change his identity. Your identity is strongly influenced by your professional career, shaped by many, many years of hard work and dedication. Of course you’ll be excited about the future, but you may find it difficult to say goodbye to your professional career — everyone is different.

Retirement presents one of the biggest changes in life, the earlier you start preparing, the better.

Originally posted on Quora.

    The Thrive Global Community welcomes voices from many spheres. We publish pieces written by outside contributors with a wide range of opinions, which don’t necessarily reflect our own. Learn more or join us as a community member!
    Share your comments below. Please read our commenting guidelines before posting. If you have a concern about a comment, report it here.

    You might also like...

    Community//

    The Stress Of Being Financially Stable

    by Nitin Saxena
    Community//

    Fear not your Future Finances

    by Tiffany Hoxie
    Dan Orfin
    Community//

    Meet Dan Orfin on Mindful Spending: A Life and Money Hack

    by Suzie Zeng

    Sign up for the Thrive Global newsletter

    Will be used in accordance with our privacy policy.

    Thrive Global
    People look for retreats for themselves, in the country, by the coast, or in the hills . . . There is nowhere that a person can find a more peaceful and trouble-free retreat than in his own mind. . . . So constantly give yourself this retreat, and renew yourself.

    - MARCUS AURELIUS

    We use cookies on our site to give you the best experience possible. By continuing to browse the site, you agree to this use. For more information on how we use cookies, see our Privacy Policy.