Ep 314: The Missing Ingredient in Retirement

My Smart Retirement

Building a retirement plan requires a mix of ingredients that a financial advisor can help you create, but it’s not all about assets and accounts. There’s much more to life than wealth and that becomes more and more clear in retirement.

That’s why we wanted to share a few circumstances with people we know who were both entering retirement or already in retirement and had questions for us. The circumstances are a little different but they have that common missing ingredient that many people don’t factor in, and that’s the feeling of accomplishment.

Getting that sense of an unexpected letdown is real when you stop working. All of a sudden your days have different meaning and often lack purpose. That’s why you want to have a plan for this second life and how you’ll spend your time. The friendship and fellowship is important, but that sense of accomplishment really helps us find happiness.

Until we feel like we’re achieving something, then people won’t be completely happy. It’s a feeling we have as humans that we need to keep striving to learn and improve so when that stops, it can have an impact emotionally.

That’s why you’ll hear the stories on this episode about people we know that retired but quickly started looking for work again because they no longer had that stability and purpose that their job provided them. Going back to the office isn’t a solution for everyone, which is why you want to work through all of these things with your financial advisor. Make sure the conversations go beyond expenses and income and to what you want your retirement to look like.

We’re more than happy to have these discussions with you and help you build a plan that ensures your retirement is spent how you want it.

Check out the full episode or use the timestamps below to hear a specific segment.

0:57 – Story about Nancy’s granddaughter

4:06 – Missing work in retirement

6:03 – The need for achievement

8:01 – Unexpected letdown when you reach retirement

9:51 – Is constant seeking a good thing?

12:00 – ‘If You Can Dream It’

16:45 – New opportunities that require you to dip into your savings

For more, visit us online at http://flemingfinancialservices.com