Are You Ready? And We Don't Mean the Money.

There’s a whole lot more to retirement than money. Of course, it’s important to know how much money you need to live the lifestyle you want to live. But what exactly is that lifestyle? Many people will say, “I want to travel” or “I want to spend time with my grandchildren.” An increasing number of people want to work part time or volunteer in the community.

Envisioning how you’ll spend your days can be a fun activity – but in order to be really ready for retirement, you probably need to dig a little deeper.

For example, envision your typical day. How will you spend your time on an average day in retirement? Can you write out a schedule for the week?

Say you’d like to travel. That’s great. Are you going to travel internationally, drive across the country in an RV or pop in on your kids a couple times a year?

When you’re not traveling, what will you do during the day? Will you volunteer or work part time? Visiting the grandchildren sounds fantastic. How often will you go?

Retirement is something you look forward to for a long time, and it will likely be a big change from your working years. It’s important to invest some time now to prepare for this change, and be sure to get your spouse, family members and friends involved in the conversation. Openly discussing your vision will help ensure a successful adjustment to your new life.

Additionally, by understanding your vision, you’ll be better positioned to develop a financial strategy to achieve this vision.