Apr 28, 2022
How often do you think about retirement? People who are not approaching retirement or who are not in retirement, rarely spend a lot of time thinking about it. But at the same time, 6/10 of retirees wish they had thought about this phase of life more often.
More and more people are visualizing retirement as a brand-new chapter in life. Retirees in the U.S. are reporting higher levels of happiness due to their newfound freedom. Maybe you have more time to focus on the things you love: spending time with family, hobbies, or travel. Thinking about the values you want your retirement to reflect can enhance these years of your life.
On today’s episode, we are breaking down the four pillars of retirement: health, family, purpose, and finances. How do each of these play into our plan and into our future?
Pillar #1: Health
Having mental, physical, and spiritual health are all important for your well-being. Yet, 80% of Americans have a chronic condition. Sometimes we find our health spans don’t match our life spans. When we consider these numbers and how often people are experiencing longevity in their plans it’s important to consider long-term care and other health care options.
Pillar #2: Family
Family can be one of the greatest places to find comfort and your family may be an important consideration within your financial plan. Stronger relationships can be a core part of retirement once you are out of the workforce.
Pillar #3: Purpose
The pandemic showed a lot of people why and how to live their lives more purposefully. Similarly, in retirement, you want to have a purpose. Are you going to travel? Spend time with family? Or embark on a journey you’ve never had time to in the past? With more time, comes more time for finding your purpose.
Pillar #4: Finances
Personal finances, retirement, and the economy all play a massive role in the level of freedom you experience in retirement. Some people go to work part-time to have more spending money to enjoy. It’s important to keep learning about your finances, even as you get close to retirement.
3:42 – 4 pillars of retirement
5:29 – Thinking more about retirement
7:06 – What does retirement planning look like now?
8:37 – A brand new chapter in life
13:15 – Pillar #1 health
17:19 – Pillar #2 family
19:36 – Pillar #3 purpose
21:23 – Pillar #4 finances
MORE INFORMATION: https://www.flemingfinancialservices.com/podcast