Many people think about the “big picture” activities they want to do when they retire, like traveling or taking up a new hobby.
But it could also be important to think about what your day to day activities look like.
What activities do you think will take up 18 years worth of days when you retire?
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Imagine this. It’s your last day on the job and you have a whole career behind you. You say goodbye to your colleagues and tie up the last few loose ends. What will you do tomorrow, your first day of retirement? How about the day after or every day for the next 18 years? Most of us never think about how we’ll spend 19 years’ worth of days. We all picture the grand ideas like writing a novel or traveling the world. But what about a strategy for the day-to-day? One study found that many retirees aren’t prepared to fund the hobbies they have been looking forward to. 58% say the don’t know how much money they’ll need to fund their hobbies and other leisure activities. 40% say they are concerned they won’t have enough. Creating a strategy for this new phase of life may not come naturally to everyone. That’s why getting financial guidance may be so important. And sound financial guidance may have another overlooked benefit. Focus on your purpose. When you understand your financial situation, you may be able to focus on maintaining a sense of your life’s purpose. Finding purpose in your life has been shown to increase longevity and create happiness as we age. What will your purpose be?