Ep 59: What Does Retirement Mean to You?
RetirementOn This Episode
Everyone has a different vision for what retirement will look and knowing how you’ll spend your time will help you build your retirement plan. Today we’ll look at what retirement commonly means to retirees in Arizona and Mark will also share his thoughts on the rise of inflation.
Takeaways
We go through life working hard to save and invest so that we’ll be able to enjoy a successful retirement, but how much time gets spent thinking about what that retirement means?
That’s not so much a philosophical question as it is a practical one. When you think about financial independence, how do you picture yourself spending all that extra time? While you don’t have to know what your plans will be every day, it’s important that you have a general idea of what type of retirement you want to enjoy.
This episode of the podcast will break down the most common ways that retirees in Arizona choose to spend their retirement. The first is wanting to really go all and have a lot of fun. After years of working and saving, some people are itching to switch gears and take full advantage of the newfound freedom.
On the opposite end of the spectrum you’ll find people that aren’t looking to do much at all. They enjoy their home, their neighborhood, and they feel quite content to just live out retirement with familiar surroundings.
Then there’s another group that has prioritized family in retirement. Being around children and grandchildren is the ideal way to spend their time and that’s what they want to focus on.
The last group we’ll discuss is one that isn’t ready to walk away from work for good. These retirees know they want to continue to stay active with work in some capacity. It might just be a part-time role or it might be a new career path altogether but this group can’t picture life without having work to enjoy.
No matter what retirement means to you, building a strong financial plan is the foundation to achieving those dreams. Take the time to meet with an advisor and take those next steps if you haven’t already.
Listen to the full episode or use the timestamps to jump to a specific section. Thanks for listening! We’ll be back for another show every other Thursday.
Everybody should have a financial plan in our opinion so that’s what we start with. It should be a fun process. Not every aspect of it is, but it should be fun, especially goal-setting and those sorts of things. - Mark Silverman, CFP®
The Layout
0:39 – Mark’s thoughts on inflation
2:42 – Want to have nothing but fun
4:23 – Want to do nothing in retirement
6:15 – Want to spend time with family
7:01 – Want to keep working in some capacity
8:26 – Meeting with us
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