When you think about retirement planning, money is likely the first word on your list of considerations. Next comes not having to get up so early, the presumption that less to do means lower stress and therefore an endless, serene happiness. Free time to pursue hobbies, travel or simply sleep.
Distant considerations may be age-related health decline, housing needs, adequate health insurance coverage or even home care services. But why focus on the negative when one’s golden years stretch out so enticingly?
Traditional retirement planning may not include the personal considerations in any detail because this requires us to objectify ourselves-take a step back and evaluate what we value personally and recognize that we will one day undergo profound physical and mental changes beyond our control.
Be the New Scrooge
In Charles Dickens’ classic, A Christmas Carol, Scrooge hordes money selfishly until enlightened by a wise “Spirit” to his mortality and the opportunities his life still holds. After this epiphany, his retirement planning shifts to engagement, charity and supporting happiness, without forgetting the money which is needed to fuel at least some of this.
Luckily for Scrooge, his epiphany did not require a health care crisis or other wake up call. With a little insight, conversation and planning, neither will yours.
Find Your Own “Spirit” Guide
Many retirees complain that their lives have lost meaning. Without a job and family to support, it may seem that no one needs you. Lack of self esteem and perceived isolation can whittle away at mental outlook and ultimately physical well being.
You can plan to avoid this, but you should begin before you retire, if possible, and in any event you must devote time to the process. Some of the ideas presented here are reflections by author and leadership guru Tom Peters, famous for In Search of Excellence, who avoided the process until a heart condition brought the issue front and center, demanding his immediate and undivided attention.
What Peters discovered, and savvy eldercare planners know, is that the insights gained as you evaluate how you wish to live become a part of your life view, as well as cornerstones from which family discussions and decision-making can be built.
And your retirement planning may take a different path, as it did for Scrooge.
How to Begin
There is no right or wrong way to go about this process, since it is individual to your beliefs, views and how your mind works best. It is important to remember that as we age, our perspective may change as well. This means that what you discover about yourself will be a living, organic process to revisit.
“Fore” example (couldn’t resist the pun), many people dream of retiring to a golf community. Once arthritis limits this activity, however, the social emphasis on the sport may become tiresome. So think broadly to other activities and possibilities with which to surround yourself.
An approach offered by James Wilkinson, Esq. In his book A Family Caregiver’s Guide to Planning & Decision Making for the Elderly is to complete a “Values History” form. Subcategories for consideration include:
- Overall Attitude Toward Life & Health
- Nature & Value of Personal Relationships
- Thoughts About Independence
- Preferred Living Environment
- Spiritual Beliefs
- Thoughts on Illness & Dying
This will both inform your thinking and when shared with family and your close community, including caregivers in the future, provide a basis for your life’s wishes to be followed.
Is it the Journey, Or the Destination?
From Tom Peters’ perspective, once the imperative of making money diminishes, the concept of “goals” can be elusive and the degree of personal liberty a bit frightening. He cautions going slowly, resisting the temptation to simply fill your days as if you had a work schedule, and to let the path find you, no matter how crazy that phrase may sound.
For him, observing and recording the subtle changes in the natural world each day has been immensely satisfying. He looks for opportunities that are fun and fit within his chosen pace of life.
Life is a River, Not a Set of Stairs
It may be helpful to your retirement planning to think in terms of windows of opportunity based on physical and mental abilities you now have, but reflecting on how you have changed over the years and why.
Consider how these same types of changes may occur in the future, while keeping you active and engaged. For example, you may be an avid needle pointer, but arthritis is making it more difficult so you sew less and have begun to teach others. In the future you could write a column, publish a podcast (why not?) or start a blog.
If the time arrives when a transition seems right, it will matter less that you did not envision yourself doing it at a particular age. Your retirement plan will have a more fluid, responsive nature.
As Art Linkletter once said,
“Things turn out the best for those that make the most of the way things turn out.”