Is retirement a dirty word?

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Retirement should mean different things to different people.

Some should not retire at all.   Shocking though it may sound.

There are those who commence a whole new phase of life in retirement years which brings greater pleasure than in working life. Others enjoy a blended and transitional approach over a few years, which sees work happen in a part time capacity whilst other interests are given time to blossom. Then there are those who attain financial freedom earlier than most, who have the potential challenge of reinventing themselves as younger people.

People work several years for financial freedom, yet some don’t think closely enough about what happens when they get there, from a lifestyle perspective.    I encourage you to consider both.

A subset of those who enter the retirement phase do so without enough to do, and potentially experience a level of depression, given the active and full life they once had is no longer.

What do you love doing? What lights you up and makes you feel alive?

When you ‘retire’ will you be giving some of that up?    Are you ‘retiring’ from your ‘purpose’ in life?  How are you reinventing yourself?

Day to day, week to week, imagine what the ideal lifestyle scenario looks like once you have financial freedom.     Are you being realistic with this picture?   Many talk about taking up new hobbies in retirement but be clear that if you aren’t already making time for this now, past research suggests that many will not get around to actually taking up new hobbies in retirement.[1]   So, are you painting a realistic future picture in your mind’s eye?

One of the most successful businessman I know will not retire at all and not for lack of money.  In his own words he cares about two things: his family and his business.  He doesn’t have hobbies.  He loves the thrill of bringing in business and connecting with people.  So why would he give that up just because he has enough money for more than a few lifetimes?

That is his story.

However, everyone is different.

That is entirely the point.

Design your own life and lifestyle so it fulfils you, makes you happy and gives you more life energy.  Do this alongside attaining financial freedom and you will be truly blessed.

General advice disclaimer: The information provided (including taxation) is general in nature and may not be relevant to your individual circumstances. You should refrain from doing anything in reliance on this information without first obtaining suitable professional advice.

You should obtain and consider the relevant Product Disclosure Statement (PDS) before making any decision to acquire a product.

The views expressed in this article are solely those of the author; they are not reflective or indicative of Millennium3 Financial service’s position and are not to be attributed to Millennium3. They cannot be reproduced in any form without the express written consent of the author.

Incito Wealth Pty Ltd is a Corporate Authorised Representative of Millennium3 ABN 61 094 529 987 AFSL 244252

Disclaimer: Millennium3 Financial Services Pty Ltd ABN 61 094 529 987 AFSL 244252. The information provided in this document is general information only and does not constitute personal advice. It has been prepared without taking into account any of your individual objectives, financial solutions or needs. Before acting on this information you should consider its appropriateness, having regard to your own objectives, financial situation and needs. You should read the relevant Product Disclosure Statements and seek personal advice from a qualified financial adviser. From time to time we may send you informative updates and details of the range of services we can provide. If you no longer want to receive this information please contact our office to opt out. The views expressed in this publication are solely those of the author; they are not reflective or indicative of Licensee’s position, and are not to be attributed to the Licensee. They cannot be reproduced in any form without the express written consent of the author.

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General advice disclaimer This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice and consider a Product Disclosure Statement. The views expressed in this publication are solely those of the author; they are not reflective or indicative of the licensee’s position and are not to be attributed to Millennium3. They cannot be reproduced in any form without the express written consent of the author. Furthermore, the information on this website is for Australian Residents only.
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