Do You Have Something to Retire To?

This week on the show, Angela discusses the importance of having something to retire to beyond financial planning. She shares a story about a 105-year-old woman who lifts weights, introduces the concept of writing your own obituary, and provides a worksheet called 'Approaches to Retirement Happiness' to help listeners find fulfillment in retirement.

Key Takeaways 💡

• Retirement Needs Purpose: The most important piece of advice for retirees is to have something to retire to, which has nothing to do with money. Retiring without a plan or goals can lead to a decline in physical, mental, and emotional health, often resulting in a shorter life. Sometimes people spend more years in retirement than they did working, so it's crucial to find fulfillment beyond just stopping work.
• Write Your Own Obituary: A powerful exercise to discover what you want your life to be about is to write your own obituary. This helps you reflect on what you want others to say about you and what legacy you want to leave. It can reveal unmet goals and desires, guiding you to live with more purpose and intention.
• Three Approaches to Happiness: The 'Approaches to Retirement Happiness' worksheet identifies three key areas: pleasure (relaxation, travel, entertainment), engagement (challenging activities that use your skills), and meaning (activities that contribute to something larger than yourself). Most people lean on one or two of these, but a balanced retirement should include all three to maintain overall well-being.
• Balance Work and Play: It's important to balance pleasure, engagement, and meaning both before and after retirement. Many people work too hard and stress themselves into poor health, then spend retirement trying to recover. Instead, incorporate enjoyable activities and meaningful pursuits into your working years to avoid burnout and ensure a smoother transition into retirement.
• Homework: Pre and Post Retirement: A simple exercise to find your retirement purpose: draw a line down the middle of a page, label the left 'pre-retirement' and the right 'post-retirement'. Under each, list three activities for pleasure, engagement, and meaning. If you have gaps in the post-retirement column, those are areas to work on to create a fulfilling retirement.