Retirement is defined in many different ways; some call it phase two or their second act, some call it re-discovery, for others, it’s the golden years. However, you define retirement; there is one thing in retirement that everyone is striving for, financial peace and security to live the lifestyle they want. It’s not being tied to a job, even if working is still part of the plan, but it’s the freedom to do what you want when you want.
Life reimagined is a great book that AARP used to help us think about the new retirement – life reimagined.
The book features six guideposts that can help you find your way on your individual journey. Don’t think of these as steps to be taken in rigid, chronological order but as practices to guide your way.
The first step was to Reflect. This is a call to pause before you start the journey and then at various steps along the way, understanding that change and choice occur from the inside out.
The next step is Connect: A step where you request feedback and counsel from trusted friends and guides, recognizing that isolation is fatal—no one should make this journey alone.
The connection should involve your family and peers as you think about what the next phase of life will look like, what you want it to look like. Pursuing passions and having a purpose is always important, but retirement brings many new opportunities for you to do so that maybe weren’t possible while you were building your business or advancing your career. With Financial security comes the freedom to pursue passions, you may have put aside with the business of life.
There is always the logistical side of the matter too, how you will create income in retirement, will that maintain, how to protect your financial security and peace even in rocky economic times. To do this, you need a guide, or like we call it, a Sherpa.
Mountain climbers take guides with them, called Sherpas. Sherpas or usually locals who know the terrain who have walked the path many times before. No matter how experienced or how well prepared, mountain climbers realize they need a Sherpa. Most often, the problems arise not on the way up, but the way down the mountain. We compare retirement in the same way; accumulating wealth is like climbing the mountain and distributing the wealth, creating retirement income is like coming down the mountain. There are many more problems that can arise on the way down the mountain, a Sherpa who has been on the path before is a needed connection!
Connect with others stories or their Dream Retirement, Life Reimagined in our book, Creating Your Dream Retirement.