This podcast episode of The Retirement Oasis suggests that planning your ideal retirement includes focusing on one aspect of inner well-being, “Leisure or Play”. While the ideal retirement does not involve all Leisure, it is nevertheless a huge part of one’s retirement. There are tips and tricks to make the most out of your leisure opportunities.
To avoid burnout at work or bad morale among employees in light of the post-COVID era, consider making changes: a four-day workweek, a hybrid work model, or taking a sabbatical. Of course, don’t forget some basic changes you can make at home as well.
There are many similarities in March Madness and preparing for retirement. Not only do we have the opportunity to create our “One Shining Moment” in our journey, but we have to realize that there is indeed a finite period of time. We have to adjust to outside obstacles (bad refs), must have the will to prepare to win, and need to implement the fundamentals (pass it how many times?) to experience success.
Should we count on Social Security benefits when we plan for retirement? Yes, but there are caveats. Is the Social Security funding in trouble? Yes, but sensible legislation can and will be passed to shore up this important part of retirement for generations to come.
Figuring out whether you can retire requires understanding “how much is enough” for a portfolio size at retirement. In other words, “what is your number” for Day One at retirement. We explore the basic variables, calculation, and sensitivity analysis around this important question in retirement planning. Accompanies Episode 4 of The Retirement Oasis Podcast.
Phasing into retirement by working part-time may offer several advantages over stopping to work cold turkey. The benefits could include monetary benefits, helping you gradually discover your schedule in retirement or new passions in retirement, or helping you determine if retiring is indeed what you want in the first place.
What are some tips for finding fulfillment in retirement? Planning ahead, experimentation, being open to new opportunities, putting the past behind you, and having a growth mindset are a good start.
Your retirement years can perhaps be the most meaningful period of your life. Designing an ideal retirement consists of striking the right balance of play/leisure, connections, renewal, and work. Non-financial issues are just as important -- if not more -- than the financial issues. How will you plan for the non-financial issues in retirement?
