7 Retirement Paths

Jun 30 • Financial Planning, Retirement Planning • 1556 Views • No Comments on 7 Retirement Paths

By Joni Lindquist

Are you a new retiree?  Or are you nearing retirement?  If so, you have an incredible opportunity to step back and do some soul-searching and create a new kind of life for yourself and your spouse or life partner.

Determining what this new life will be after spending so many years in your main career may seem daunting.  An interesting book that may help is Shifting Gears to Your Life and Work after Retirement by Carolee Duckworth and Marie Langworthy.  Both of them have crafted new lives for themselves post- career.  They identified seven different paths that retirees might take:

Life of Leisure – I know clients and friends who focus their time on pursuing their hobbies and interests and are very happy.  This could be golfing, gardening, hiking, fishing, or bicycling.  While the focus of their life is in their passions, they may also include other paths in their life.

Life of the Volunteer – For many retirees, they felt they didn’t have the time to give back previously.  Now, they have talents and expertise that can be useful to organizations.  This can make one feel engaged both intellectually and socially.  You are also free to pursue volunteering in causes that you care about.

Life of a Traveler – the authors suggest that people stay in places longer than merely being a tourist.  For many people I know, they have a bucket list they are working through during the early phase of their retirement, when they are hale and healthy.

Life of Engaging New Work – this may sound dreadful to many of us. But for some, finding meaningful, satisfying work that is dramatically different from their core career can be fun and stimulating.  Most however, will want some flexibility to fit in other activities.

Life as an Entrepreneur – I have worked with clients who always had this urge to be an entrepreneur but providing for their family and the riskiness of entrepreneurship didn’t match.  Now might be the time to scratch that itch…

Life as a Creator– I have a friend who had a career in the insurance industry and gave herself a new title upon retiring: Explorer of Life.  She was always artistic yet never found the time to engage in it.  Now, she has taken classes, built herself a studio in the basement of her house and is immersed in creating artwork.  She mixes in some more “active” pursuits like golf and she is thrilled with her life.

Life of a Student – some of us are lifelong learners.  The carefree life of a student might be awfully appealing, particularly knowing that your GPA doesn’t matter!

Your best retirement might be a combination of these paths.  I encourage you to explore!

For help preparing for your own retirement, schedule a meeting by clicking below, contact Joni Lindquist –jlindquist@makinglifecount.com, or call (913) 345-1881.

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