Emotional Transition

I have spent a lot of time thinking through the financial transition to retirement. Everything from budget, to taxes, to Social Security strategy, to IRA withdraw strategy, and more. Recently, I have begun to think through the emotional aspects of the transition from my professional career to a meaningful retirement. This requires as much attention as the financial aspects of retirement planning.

One of the most important aspects is discussing desires and expectations with your partner. My wife and I have been having many discussions about not only travel, but of the day to day activities that we are hoping to enjoy together once the demands of jobs have ended.

Health – Physical activity devoted to maintaining our health is our number one priority. Certainly maintaining our 10-acre property will provide daily physical activity, especially with our plans for a garden. Beyond that we have begun to look into programs that are available which would include classes in exercise, yoga and dancing. We have also begun to be more thoughtful regarding diet choices.

Mental – After years of the daily challenges of problem solving and managing staff, it is important to remain mentally sharp and challenged in retirement. I plan to become involved in our new community where my management skills can be used. Our Property Owners Association is new and I am hoping to volunteer for a position on the Architectural Review Committee. In addition, both Marble Falls and Burnett County are growing and there are likely opportunities to volunteer my services. In addition, I personally will now have time to focus on meditation and reading.

Hobbies – I remember once thinking that playing golf nearly every day would be my idea of an enjoyable retirement. While I enjoy the game and still play reasonably well, I don’t expect that it will be a primary focus. Outdoor sports that my wife and I can enjoy together such as tennis and kayaking seem like better options. Our new home is only minutes away from the Colorado River, Lake LBJ and Inks Lake State Park. I will also have more time (and more room) to focus on woodworking. A few years ago, I designed and completed built-in bookcases in our study. The new house has a great nook by the fireplace will provide an opportunity for an immediate project. And of course there is photography. My wife and I both enjoy landscape photograph and retirement will give us opportunities to take advantage of the best time; early morning and evening when the lighting is best. I will continue to make my own picture frames, develop, print and mat. We have lots of walls to fill.

Travel – We have had the opportunity to travel to many wonderful places and expect that having more free time will allow us to explore more. My wife’s lifelong dream is to visit Tibet. We enjoyed a cruise on the Rhine River a couple of years ago and the Danube is now calling with the opportunity to visit Austria and spend time in Budapest. Here at home we still have many locations from the deserts of Arizona and Utah to the Rocky Mountains from Colorado to Canada. Perhaps I will have many blog posts to share our travel experiences.

What is your plan for the emotional transition to retirement? Make sure that you do not forget this important aspect of retirement planning that a financial advisor cannot address.