The 3 C's of a Successful Retirement:

When you reach out to a financial planner, you mostly want to focus on the financial side of your retirement equation. There is nothing wrong with this approach, and you certainly want to have your ducks in a row when you are thinking about or transitioning into retirement. Unfortunately, we know of many examples of financially successful retirees who, after a short retirement “honeymoon,” started feeling outright miserable. At the very least, they felt unfulfilled in their retirement journey.

What is the crux of the problem? There was not enough time spent thinking about your retirement beyond the numbers. Don’t take this lightly!

Some of the ideas in this newsletter may appear obvious to you. However, we can assure you that spending at least a few days thinking about these ideas can dramatically improve your success in retirement.

Let’s start with the broader concepts, or the three “Cs,” of retirement.

Creativity or Curiosity

You use your mind at work and outside of it. This is what keeps you engaged.

You need a creative outlet. Otherwise, something will be permanently missing.

They say curiosity is the fountain of youth. You need to continue to grow and feel fulfilled in retirement.

What will be your next "big" project now that you have so much time on your hands?

Connection

Connection is crucial for mental health, and relationships play a vital role in this aspect.

Invest your time and effort in finding and nurturing the right connections.

Meaningful relationships will greatly improve your well-being and satisfaction in retirement.

Have you thought about reconnecting with your high school friends?

Contribution

Helping others with your time, money, or skills boosts your own fulfillment.

It feels good to contribute and makes you feel connected and purposeful.

Whether you volunteer, mentor, or support charities, these acts of kindness can bring happiness and meaning to your retirement.

So, what will be your next passion project?

Now that we've covered the concepts, here are the top five questions for you to consider. We hope reflecting on these questions will help you feel motivated and excited for the next stage in your life. Find some quiet time to ponder these questions. Write down your answers and review them to see if they still resonate with you.

1.) What can I do in retirement that I cannot do now?

As general as this question sounds, many young retirees haven't spent much time thinking about it.

Sure, you will likely have more time to golf with your friends during the week or spend nurturing your home garden.

But does your current work environment truly prevent you from enjoying these activities now?

2.) Why do I want to retire?

If left unanswered, this question can seriously impact your early retirement, your golden or your “go-go” years, which is how some people refer to them. 

Ask yourself if you are truly looking for the next chapter of your life or if you are simply running away from an unpleasant or unsatisfactory work environment.

If the answer is the latter, you may greatly benefit from identifying a more fulfilling job, switching careers, or at least working part-time to reduce stress.

3.) What do I want to do more of if I had more time?

It is entirely possible that endless travel or time at the golf course is your dream retirement.

But is this truly the case once you realize how much time you have for these activities?

One helpful exercise is to write down exactly what you would do if you had the time from Monday to Sunday.

Even though most people need some consistency in their lives, would you still be satisfied if you see the same three or five activities on your calendar each week?

4.) Who do I want to build stronger relationships with?

Maintaining meaningful relationships with your family and friends is one of the key aspects of a fulfilling retirement.

Many of our connections are made and maintained throughout work.

Undoubtedly, at least some of them will dissolve once you retire and partially or fully exit your work circles.

So, how are you going to build and maintain strong connections in retirement?

5.) What skills would I like to learn in retirement?

As we discussed earlier, learning new things can be fulfilling and keep you engaged.

Whether it's picking up a new language, exploring hobbies like painting or woodworking, or learning about technology such as digital photography, retirement gives you the time to pursue interests you may not have had time for before.

Embracing lifelong learning keeps your mind active and helps you feel accomplished.

It's a great way to enrich your retirement and keep growing personally.

We hope the ideas in this newsletter made you pause and at least consider various non-financial aspects of a successful retirement.