Sunday, May 11, 2008

Greater Focus On Retirement Transition

Since retiring in my forties in 2007, I've concluded that retirement is also a new beginning rather than just a finale. It is the beginning of a new phase of life, with different goals and approaches than previous phases. It is much more than the winding down of a career and a transition a lifestyle of enjoyment.

Until now, I've been overly focused on the financial aspect of retirement. After all, this is a personal finance blog about my personal finance experiences :-) Of course, the financial aspects are a very important part of retirement, but it's not the only part. Here are some of the common beliefs about retirement I've heard:

  • Retirement is mainly about financial freedom. - For me, financial freedom is necessary but not sufficient for a great retirement. I've seen many people who are financially able to retire, but aren't ready to do so.

  • Retirement gives me time to do all the things I didn't have time to do. - In theory, yes. However, if I wasn't doing them before retirement, it's not likely to start after retirement. I haven't seen many people do a complete makeover after retirement.

  • Retirement enables me to do more of the things I enjoy. - Yes and many of my colleagues found they can maintain such a lifestyle about a year. After that, they want to do something different. Some have even gone back to work.

  • I think people are finding that retirement includes the above elements but is also more. I don't know what the "more" is yet, but I have been getting exposed to some ideas recently. I will begin investing more time discovering what the new retirement is about, living it and writing about it on this blog. Hopefully, I will be able to provide some new and fresh insights into retirement.

    For more on New Beginnings, check back every Sunday for a new segment.

    This is not financial advice. Please consult a professional advisor.

    Copyright © 2008 Achievement Catalyst, LLC

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