Planning for your Best Retirement

Approaching retirement, many couples meet with a financial advisor to map out all of the “what-if” scenarios, their tax efficient withdrawal strategies, income plan and investment strategies. They often are feeling the pressure to make sure they do retirement “right”. 

The problem many couples don’t solve before making the final decision to stop working is not financially related. Even if you feel good about the financial side of retirement, have you processed how you will experience fulfillment and joy in retirement?

The sad thing is when you stop working, if we don’t pursue these three things, they’ll disappear in retirement. You actively have to do these or look for them and pursue them or otherwise they won’t happen. 

  1. Creativity

When your career is done, the first thing is to make sure that you’re doing the things that are keeping you or allowing you to be creative. As humans, we’re all naturally creative. Think about children, for example. Without any prompting or ideas they’ll create drawings, games, and stories. And really, they’re creating them out of nothing.

During our career lives, we can be creative in different ways. You’re being creative when achieving certain outcomes for a company goal or finishing a project that you’ve been working on.

There are creative aspects to our team of Retirement Planners at Streamline. Like when we’re studying these investment strategies and these changes to tax code and then applying them to individual plans that we’re helping.

However, work can take up so much time that you forget what your creative passions are. Even when you’re being creative at work, there’s also outside creative passions that you may not have pursued in the last 30 years. 

Whether it’s writing or painting or woodworking –  the big thing to remember is finding something that sparks your creativity. Stay curious and look for these things that are fascinating and motivating to you. 

Ask yourself these questions to stay creative::

  • How can I express creativity in retirement years? 
  • What are those topics or things that I find fascinating?
  • What is interesting that I want to learn more about? 
  1. Connection

Connection is essential. We know that as humans, we’re meant to be in connection with each other. If faith is an important part of your life, then we’re meant to be in connection with God as well as others. 

In retirement it becomes more important to focus on staying connected.  You get to have some sort of connection at work with workmates, clients, or supervisors. But once that’s all gone, it’s a  big shift 

Connection is something you have to pursue in retirement. 

Ask yourself these questions to stay connected: 

  • Who do I desire to build stronger connections with in retirement? 
  • How can I do that?
  1. Contribution

The last way to find fulfillment in retirement is finding ways to contribute. During work, you get to contribute to others’ lives by helping people, or contributing to a larger team. Bu, when work is done, we need to make sure that we can continue to contribute to others.

The person that you’re best equipped and most qualified to help is the person you used to be. Maybe someone who is a few years behind where you are. 

Another way to contribute to others is considering if your strengths, skills, or abilities can be used to help others. This brings fulfillment to a lot of people in retirement. 

Ask yourself these questions: 

  • How are you serving others? The people you’re connected with?
  • How can you contribute to their life?
  • Do I have any skills or abilities to contribute?

Embrace Your Child-like Self

If you think back to the example of children being naturally creative, they also have an inner desire to contribute. Even as adults, there is an innate desire to contribute to something larger than ourselves.

As you prepare for retirement, be sure to spend some time building these things into your life. Creativity, connection, and contribution are huge contributors to experiencing retirement to the full. 

Disclaimer: Since we don’t know your specific situation, none of this information should be construed as tax, legal, financial, insurance, financial advice, or other advice and may be outdated or inaccurate. It is your responsibility to verify all information yourself. This content is prepared for entertainment purposes only. If you need advice, please contact a qualified CPA, attorney, insurance agent, financial advisor, or the appropriate professional for the subject you would like help with. Streamline Financial Services, LLC or its members cannot be held liable for any use or misuse of this content.

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Disclosures: Securities offered through LaSalle St. Securities LLC (LSS), member FINRA/SIPC. Advisory services offered through LaSalle St. Investment Advisors LLC (LSIA), a Registered Investment Advisor. Streamline Financial Services is not affiliated with LSS or LSIA. LSS is affiliated with LSIA.