Many retirees find this time in their life as a new beginning and they attribute that to volunteer work.
Why College Towns Can Be a Good Fit for Retirees
As a financial planner I often find new retirees making a common error: they mistake the joy of being retired with being fulfilled in retirement.
“Do you do something that fills you with satisfaction and meaning? Do you feel a sense of accomplishment because what you do aligns with who you are?”
One component of any retirement plan is making a smooth transition by “practicing retirement.” Think of it as a dress rehearsal before you take the big (and often irreversible) step to fully retire.
A happy retirement is about so much more than having enough money to pay your bills. So once you have a retirement plan in place to help secure your financial future, be sure that you also consider the non-financial aspects of a successful retirement.
It is often said that there is no such thing as a free lunch. That admonition is doubly true when discussing early retirement planning.
Taking a long vacation can help soon-to-be retirees reassess their goals without forgoing the satisfaction and financial security that comes with continuing work.
Retirees with big plans for the next chapter of their lives often harbor big doubts about what comes next, according Stewart Friedman, practice professor of management at Wharton and founding director of the Wharton Work/Life Integration Project.
“There are people who engage in magical thinking about retirement happiness, just as some engage in magical thinking about retirement security–they want it, but they take no steps to get there.”