For most people, retirement is that time on the horizon when you get to do what you want, when you want. But surprisingly, it’s not all that uncommon for people to retire only to go back to work or face other unexpected negative events that occur which people are not prepared for.
You spend a boatload of time planning the financial side of retirement (at least we hope you did). But how much time do you spend planning how you’ll spend your time.
In this episode, we share ideas from an intriguing presentation given at NAPFA National 2016 where Mitch Anthony spoke about his new book The New Retirementality. He describes 10 components in the “Return on Life Index” he developed. This index details all the other areas you get a return in life that you may not regularly think about through those lenses. This includes your contribution after work, leisure, health, education, and relationship building opportunities.
Remember, you don’t stop investing after you stop working. You just find different areas of your life to invest in, besides your portfolio. Take a listen to find out more of what we learned during Mitch’s presentation.
- Facts that back up our claim that many people fail at retirement
- 4 Key Success factors that have been found to result in a successful retirement.
- Resources to help you as you decide if and how to retire.
Facts and Links Mentioned In the Show
- For those over 65, the official number of suicides is 14.9 out of 100,000 people per the Centers for Disease Control and Prevention. These numbers for over 65 may be under reported as overdoses are assumed to be an error.
- In 2014, people over 50 were twice as likely to get divorced than in 1990.
- The book Your Retirement Quest: 10 Secrets of Creating and Living a Fulfilling Retirement by Alan Spector and Keith Lawrence
Two Questions to Help Avoid Failing at Retirement
- Think through how are you going to spend your time?
- Secondly, how are you going to pay for it?