Retirement today is not the same as it was 30, 20, even 10 years ago. Because we’re generally living longer nowadays (we might need to work on improving the quality of life in those later years), we need to make sure we’ve got enough money for living expenses (especially the ever-increasing medical expenses) and some fun. But retirement is NOT just about having enough money – it’s about having the best quality of life possible (health and wealth). As a financial advisor and fiduciary, it’s my goal to help clients not only retire with enough money but to make sure clients also continue to keep themselves physically and mentally challenged/stimulated.
For many retirees, I recommend not entirely leaving the workforce because of the many benefits it provides (social interaction, mental and/or physical sharpness, extra spending money, etc.). If you are planning on retiring but don’t have a grand purpose that drives you to get out of bed in the morning, better plan on what you’re going to do in retirement. Idleness is a recipe for disaster, and I’ve seen it unfortunately with some of my retirees (several who passed away far too soon) early on in my career.
Whether it’s working part-time, travelling, taking care of properties, exercising, gardening, volunteering, getting a new hobby, reading, taking classes, etc., just make sure that you have a game plan before you’re in retirement. It’s just as important (if not more so) as planning to get to retirement. No sense in retiring if you’re not going to live a long, healthy, productive life!
If you need help implementing your new retirement plan (perhaps you need the right financial advisor?), think of the activities that give you great joy and a sense of purpose. Write those activities down and visualize yourself engaging in those activities on a regular basis. You now know what both your current AND new retirement plan should each clearly look like…you’re welcome!
Find an experienced financial advisor who helps clients implement new retirement plans, works for an RIA firm, earns his/her money from fees (NOT commissions), believes in having an abundance of investment choices for clients, and has the heart & demeanor of a teacher, NOT a salesperson, and chances are you’ve found the right financial advisor to help you prepare and plan for your goals.
Authored by Martin A. Federici, Jr., CEO of both MF Advisers, Inc. and MF Tax & Accounting, Inc.
About MF Advisers, Inc.
MF Advisers, Inc. is a full-service, fee-only RIA firm and fiduciary based in PA & FL specializing in wealth management, investment advice, and financial planning.
With 20+ years of licensed experience, over 10 years of professional education, and an unwavering commitment to improving your financial situation, MF Advisers, Inc. is the advisory firm to best serve YOU.
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