Transitioning into retirement at any age will likely mean experiencing an abrupt change from your normal lifestyle. With the absence of a full-time career, there will undoubtably be more free time in your day once retired. Creating a plan to ensure your happiness and filling your days with a purpose is important to a healthy and enjoyable extended retirement. Below are some things to consider and plan for once you transition into retirement.
Creating a Purpose: What makes you happy? What makes you excited? What gets you out of bed in the morning? Defining what your focus and drive will be in retirement, and then building that into your financial plan will help to sustain financial health and happiness.
Exploration: During retirement, you will have the chance to explore new opportunities. Whether it be traveling more, taking up a new hobby, or volunteering your time, this will help you to stay driven in maintaining your financial independence to live life to its fullest. Staying disciplined on your income and budget will help you do this indefinitely.
Time Management: Transitioning from being focused upon your career and family, into a lifestyle with more free time, you will naturally find more opportunities to spend money. While this is not a bad thing, finding structure in your day will assist you in keeping yourself accountable to your budget.
Craft asset management does not provide accounting or legal services; however, we can work closely with your accountant, attorneys or other professionals. Please contact us for a complete description of our Financial planning and asset management services.