Author: Seth Streeter, MS, CFP®
CEO at Mission Wealth
Retirement decisions today are far from a straight line equation.
There are many factors that need to be considered as you direct your attention, energy, time and resources in a way that will lead you to your future desired lifestyle. Finances and health status are, of course, critical components, but other questions need to be answered as well, including:
What role could a part-time career play in the picture? More seniors today are finding work later in life to be a fulfilling part of their retirement and more employers are realizing the tremendous asset a seasoned employee brings to an organization.
What are your desires with housing? Are you inclined to stay in your family home indefinitely, are you hoping to make improvements to the home, or are you ready to downsize or even rent? In this mobile era we are in, many retirees are prioritizing travel, ease and flexibility over maintaining a significant chunk of their nest egg into a higher maintenance home.
How does family support come into the mix? Are there parents, children or grandchildren that you want or need to be close to and possibly live with? The sandwich generation is becoming the new normal where parents and children remain dependent to a degree on the early retiree.
What are your “bucket list” hobbies, trips or experiences that are important to you not to neglect in your retirement years? Have you always wanted to take a European river cruise, learn how to play guitar, take a cooking class or learn to speak Spanish? Is there a charitable or community cause that you are passionate about supporting with your time, talent or treasure? Becoming clear on what the activities are that will feed you will help you avoid having regrets on your death bed. These are important components to prioritize in your retirement planning.
With proper proactive holistic planning, retirement can and should be one of the most enjoyable phases of life. Mission Wealth is here to assist you in intentionally designing a retirement lifestyle that is sustainable, enriching and A LOT of fun. It is our pleasure to help you dream big and outside of the box. Please reach out to your wealth advisor or any of us on the management team to help you craft a retirement of your dreams.
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