In retirement, you will have more freedom than ever before regarding how you choose to spend your time. For some people, that is an exciting prospect and for others it is a frightening one. But for most, it is both exciting and frightening to anticipate the challenges and opportunities of “free” time.
Many people think the secret to a happy retirement is “keeping busy.” In fact, many retirees proudly report, “I’m so busy now, I don’t know how I ever had time to work.” In Comfort Zones: Planning Your Future, the authors warn that “keeping busy is a fine idea for retirement – provided that the individual is doing what he/she wants to do, and the activities are personally meaningful and fulfilling.” They encourage each person to not trade a life of challenge and opportunity “for a passive existence composed of busy work.”
When individuals are unhappy in their work lives, they focus more on what they are “retiring from” rather than what they are “retiring to.” They see retirement as the goal or a finish line and give little thought to what life will really be like once they quit working.
In addition, many individuals give little thought to the benefits that work provides beyond the paycheck such as: 1) structure to the day, 2) regular interaction, 3) friendships, 4) identity, 5) challenge, and 6) recognition. Because full retirement is a major life transition, it is very helpful for you to think ahead about how you will continue to receive these more subjective benefits once you have left your current workplace.
Learning, “work” (paid or unpaid), and leisure can be thought of as the three “doing” components of a retirement lifestyle. That is because they reflect the main activities that will frame, design, and define an individual’s day to day activities during that stage of life. These pursuits are the ones that shape a retiree’s sense of self and can make life in retirement enjoyable and fulfilling.
Therefore, it is very important for you to think ahead and to identify post-retirement learning, “work” (paid or unpaid), and leisure activities that will be meaningful to you, and to explore ways to invest your time and energy among these activities.
Visualisation is a very powerful tool. It is a key factor in helping you to plan and prepare for a retirement lifestyle that will be rewarding and satisfying. In addition, visualisation will allow you to mentally rehearse many retirement lifestyle options and decide which version you like the best.
Visualising makes great use of one’s imagination. When you imagine how you want to live and what you want to achieve in retirement, these images will become the basis of your goals and shape the direction of your financial life plan.
Financial Life Planning is a holistic process
that puts your interests first and focuses
on increasing your sense of financial
well-being and life satisfaction.
It sounds like a strange thing to say that your financial adviser would be talking to you about how you feel, about those sorts of emotional choices and decisions about where you’re going to live and how happy you are in the place that you’re living, but they’re equally as interested in talking to us about that as they are about how good our super is going ..…” Fleur and Kym Wilkinson
“When we were separating, splitting assets and all that kind of stuff, Michael was much more than a financial adviser, he was a confidante, a marriage counsellor to a certain degree, but more importantly, a trusted friend.” Craig Buchanan
“If somebody asked me about financial planning and they were considering it, I would without hesitation recommend HPH” Philip and Kate Smith
“I think what great financial advice offers is peace of mind and particularly if you’re the sort of person like me who’d rather be out sailing than in reading about the latest investment strategy, so it’s great to know you’ve got someone who’s across all that stuff and working on your behalf. It takes the worry out of it for you.” Penny Walsh
“I think the last meeting that we had with the guys I actually cried because I was so happy with how everything was going and so appreciative of everything that they had set up for us.” Dr Fleur Davey
“We were initially very cautious, but they were terrific because they listened first and offered suggestions second. They asked lots and lots and lots of questions about our lifestyle and our ambitions for the future and all those sorts of things and then subsequently came back and said here’s a series of suggestions that we think might be of value to you and we appreciated that style.” Shaun and Lina Ridley
“If it wasn’t for HPH, I think I’d still be worried about money” Craig Buchanan