9 Steps You Can Take to Plan for a Fulfilling Retirement

You’ve dreamed about what retirement will be like, a time to enjoy the freedom of not being tied to a desk, or deadlines. Time to travel, enjoy and relax after years of work.

But, for many, retirement doesn’t always turn out the way they expected.

In the 2022 Retirement Confidence Survey, 73% of American workers feel confident in their ability to have enough money to live comfortably in retirement.

In the Transamerica Center For Retirement Studies 2021 survey, when asked how much money they would need to have saved to feel confident, the median response was $500,000 by the time they retired.

For many, that is a long way from what they currently have saved.

Knowing how much you will need to save and how to get there can be difficult without a retirement plan. But planning for retirement is about more than just numbers.

What often gets forgotten is that retirement planning is about so much more than money. Failing to plan for the non-financial aspects of retirement can be just as harmful as not planning for the financial aspects.

There is more to planning for retirement than just having a good financial plan. And you need more than dreams and good intentions for the non-financial aspects.

Careful planning and executing the plan is what it takes to have a happy and successful retirement.

But, why, you ask do I need a plan for retirement?

Just like you need a roadmap when you go on a long road trip, you need a good retirement plan. Otherwise, it is easy to get lost or end up somewhere you don’t want to be.

Your retirement plan is your roadmap you can follow. It helps you stay on track so you can reach your retirement goals.

Going from your totally busy schedule to an unstructured life can be a shock to your system. You can feel lost and unsure of yourself.

According to Mental Health America, more than two million of the 34 million Americans age 65 and older suffer from some form of depression.

Retirement is a transition. Like other transitions, retirement signifies an ending which may involve a period of uncertainty before there is clarity and one moves towards a new beginning.

Transitions take time to adapt, and reactions can change over time.

This makes sense when you look at it in terms of the 6 stages of retirement, with stage 3 being the honeymoon period and stage 4 being disenchantment.

Retirement is a major transition in life. Without a plan in place, it can be easy to lose your sense of purpose.

Are you convinced you need a good retirement plan that goes beyond the financial prep? Great, let’s look at steps you can take to plan for how to spend your time in retirement.

9 Steps You Can Take to Plan for a Fulfilling Retirement

Identify your interests and hobbies: Consider what you enjoy doing and what you would like to explore in retirement. This could include hobbies, travel, volunteering, or learning new skills.
Set achievable goals: Decide what you would like to accomplish in retirement and set achievable goals for yourself. This could include physical fitness goals, volunteering goals, or personal development goals.
Consider your finances: Make sure you have a solid financial plan in place to support your retirement lifestyle. This should include budgeting for your hobbies and activities and considering the cost of travel or other expenses that may be involved.
Maintain good health: Good health is important for enjoying retirement, so make sure you prioritize exercise, healthy eating, and regular check-ups.
Connect with others: Social connections are important for mental and emotional well-being. Consider joining clubs or groups that share your interests, volunteering, or visiting with friends and family.
Stay engaged with the community: Retirees can contribute to their communities in many ways, such as volunteering, mentoring, or serving on boards and committees.
Plan for travel: If travel is important to you, make sure you plan for it in your budget and set aside enough funds to cover your expenses.
Consider working part-time: For some retirees, working part-time can provide additional income, a sense of purpose, and social connections.
Stay mentally and physically active: Mental and physical activities can help keep you engaged and maintain good health. Consider taking up new hobbies, learning new skills, or participating in activities that challenge your brain and body.

By taking these steps, you can plan for a fulfilling and enjoyable retirement. Remember, everyone's retirement is different, and what works for one person may not work for another, so it's important to find a plan that fits your individual needs and goals.

Like to find out more about Rediscovering You in retirement?

You’re invited to join me for a no-obligation Retirement Wellness Discovery Call where together, we will:

Explore your ultimate “Retirement Vision”
Find out what your biggest fear is about retirement
Outline a specific plan for implementing a life you love in retirement

Schedule your complimentary Retirement Wellness Discovery Call