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Finding Your Retirement Lifestyle

Finding Your Retirement Lifestyle

By Susan Williams

Retirement – unfortunately, many people are just falling into this new lifestyle without any particular planning on what they will do once they get there.

In this Learning Bites episode, we are joined again by Mike Drak, author of Victory Lap Retirement for our second segment of our series on Retirement Planning Beyond the Money.

In this session, Mike shares with us some suggestions on how to prepare and define your lifestyle in retirement. Here’s our discussion.

Be Sure To Also Watch the First Episode:

Retirement Planning – Its’ About More Than Money

These are some of the highlights of our conversation:

  • It’s so important to figure out what you plan to do in retirement. Once you leave the workplace, you can often leave behind your identity along with the structure of your days. When you are working, you know exactly what you would do in the day. When you retire, this isn’t the same as you now determine what your day will be filled with.
  • To prepare, start by asking yourself “what do I want my retirement to look like” and begin to create a lifestyle that reflects this and gives you some type of structure so that you know when you wake up in the morning exactly what you plan on doing that day. It’s very important to have some reason to get out of bed in the morning.
  • This activity can take some time to do. It often takes a great deal of thought and introspection. Often we can lose the connection of ourselves when we are working (almost being in an auto-pilot mode) and we forgot what makes us happy. This is the time to rediscover this.
  • Many people go through a “decompression stage” when they first retire – especially if they are forced out of their job. It can sometimes be like a retirement shock. If you have been with an organization for a very long time, Mike shared his own experience of it feeling like leaving his tribe of thirty six years and he felt like he was pushed out of this tribe and being forced to survive on his own and he had a very difficult time with this transition.
  • There is a transition when you move from work to retirement – very often people will ask you “what do you do” and when you answer “retired” they can often look at you wondering what does that mean or have views of retirement being just sitting around and watching the world go by. But this is not true.¬†You need to replace that identity with something that interests you.
  • Values are critical. Values are what makes you happy and motivates you. You want to design a retirement lifestyle that recognizes your personal values so that you can have a great time in retirement.
  • For example, Mike shared one value that motivated him. He likes to help people so he needed to find ways to do this so he does it through giving seminars and writing.
  • It takes time to figure out what your values are as many people haven’t really given this much thought before.
  • So to start planning for your lifestyle, when you retire – you will probably want to take a break to start. You will want to recharge, you will want to heal (if it was possibly a difficult exit) and once you feel strong again this is when you begin your rebuild or start doing exactly what you want to do building on your values.
  • This can be an exciting time. You can learn a great deal about yourself and what really motivates and interests you. Retirement can be a wonderful thing.

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Susan Williams is the Founder of Booming Encore. Being a Boomer herself, Susan loves to discover and share ways to live life to the fullest. She shares her experiences, observations and opinions on living life after 50 and tries to embrace Booming Encore's philosophy of making sure every day matters.

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