Redefining Retirement: Finding Purpose in Retirement

Written by Alan Hicks

The “traditional” definition of retirement is changing. While there are still large flocks of snowbirds looking to spend their winters soaking up the sun and playing golf in places like Florida and Arizona, there are growing numbers of those who simply aren't content to lounge on the beach.

Planning for retirement is about more than just saving money. The goal is to create the financial freedom to?choose?how you want to spend your retirement, in whatever way that may be.

If you haven’t already, you may want to ask yourself the following questions as you plan for retirement:

• What can I do to find purpose now that I’m no longer working?
• How will I replace the sense of accomplishment I get from work?
• How will I spend my time?
• Where do I want to live?
• What’s my “Plan B” if I’m bored after I retire?
• Where can I find a sense of community?
• What do I want for my legacy?

If you aren’t thinking about?how?you’ll spend your time in retirement, it’s time to change the conversation.

How to Find Purpose in Retirement

Your work and career may have been tied closely to your identity for years. It gave you a sense of purpose and social connection. A job well done gave you confidence. Without this identity, you may feel like something is missing.

An often-ignored aspect of retirement planning is planning for your post-work identity.

The idea of discovering a new identity—or capturing something that may have laid dormant inside you all along—might seem daunting. But it can be made easier by?including your financial advisor?in the process. After all, they work with retirees all day long and may be able to offer precious insight that can point you in the right direction.

To help get you started thinking about how to live a purposeful life after retirement, here are some ideas...

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