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Retirement may be a dream you've been working towards your entire career. Your last day of work might be an exciting occasion where you will now be able to see how all your hard work and savings come to fruition moving forward in this next phase of life. For others, retirement does not necessarily conjure the same images of leisure, travel, and relaxation after a long career. Many people feel anxiety around transitioning into retirement: They might not have enough saved, don't have a plan, or simply are unsure of what life will bring when they aren't working.
No matter what boat you're in, answering three quick questions can help you begin to picture yourself in retirement.
There is no way to "fail" retirement. Traditionally, retirement can be a drastic change, moving from working 40-hour weeks to having no schedule, no income, and no set plan, but that's not necessarily appealing to everybody. Many people are doing retirement differently by slowly phasing in this stage of life, working longer, or never planning to fully stop working at all. No matter what you envision, it's vitally important to have some idea of what you want retirement to look before you're actually living it.
We have put together a simple worksheet consisting of three questions meant to help you imagine life in retirement:
1. Where are you?
Do you intend to keep your current home? Move somewhere new? Or stay local, but downsize? This question guides you in literally picturing where exactly you'll be in retirement.
2. Who are you with?
Do you have a spouse or significant other you'll be spending retirement with? Do their wishes for this time align with yours? Are you going to stay close to family? This question will help you further piece together retirement by taking into account the loved ones around you as well.
3. What are you doing?
What will an average day in retirement look like? Will you take on any new hobbies? Is travel going to be a big priority? Planning out what your ideal use of time in retirement will be can greatly help someone transition into this new phase of life.
We encourage you to download this worksheet and put in writing what your retirement dreams really look like.
Download the worksheet today:
