“I Need to Have a Purpose and Feel Useful”

Today, I wanted to share some details about a recent conversation with one of our long-term clients that really made pause and think about our work.

As we help our clients transition into retirement, I frequently realize that reaching a certain level of financial security is just the foundation rather than the finish line.

For many people, the focus is frequently almost exclusively on reaching a certain financial milestone (e.g. $10,000/m for the rest of my life).

This type of thinking can lead to a major disappointment in your golden years.

This becomes even clearer every time I meet with clients who are actually navigating the transition into their next chapter.

They are not just talking about it conceptually. It’s real for them.

I realize the real struggle for many people centers around their identity and purpose, not just their finances.

Simply put, we want to feel useful.

But how will that change when you are no longer working and potentially even lose some of the connections you’ve built over the years?

Planned or Not, Retirement is a Huge Change

So in this newsletter, we will call the client I’m referring to Mark.

Mark has done exceptionally well and reached his financial independence targets years ago.

He has been well ahead of the plan for a while and could have walked away from work at any time.

However, a few years before his preferred retirement date, his company underwent an internal restructuring and he was asked to depart.

Even when you anticipate a shift in your company, I notice that the actual experience frequently leaves you in shock.

It just feels like a sudden conclusion to a path you have been dedicated to for many decades.

Mark has had some success finding new opportunities, and given his track record, it is only a matter of time before he finds the perfect fit.

In our meeting, I asked him a direct question:

“You already have everything you need and your significant other is ready for the next chapter full of exciting plans. Why are you working so hard to find a new role?”

He looked at me and said “I need to have a purpose and feel useful.”

I hear similar sentiments often, but the directness of Mark’s answer made me pause and I even wrote down his response.

When I reviewed the notes after the meeting, this really made me understand at a deeper level that life transitions like this are rarely just about money.

As we kept talking, Mark referred to his last few months as a “weird transition,” specifically because of the lack of routine and structure.

The “classic” retirement dream of travel and leisurely afternoons is simply not Mark’s version of success.

Mark needs a calendar full of activity.

He thrives on attending conferences, meeting his network for lunch and mentoring students.

Don’t get me wrong, Mark very much enjoys travel (and his partner is an excellent trip planner!).

But he is still driven by the need to be an active part of his community.

As an example, Mark has been increasing his charitable contributions for causes that he believes in, but now he wants to be even more involved and potentially even serve on their boards.

So, again, this conversation with Mark made me realize how many people focus almost exclusively on the financial side of retirement.

They frequently overlook other parts that can be just as important, if not more.

So what can you do about it?

5 Non-Financial Questions to Consider

Before you actually transition into the next chapter, here are five questions to consider about your retirement.

1.) If you could never work for a paycheck again, what specific activity would still make you feel productive at the end of the day?

2.) How will you replace the social connection and the professional network that currently fills your work week?

3.) When you imagine a typical Tuesday three years from now, what specific activities are giving your day its necessary structure?

4.) Beyond making charitable contributions, if any particular cause is important to you, what unique skills do you have that a local organization or community group would find beneficial?

5.) If you took a two-month sabbatical starting tomorrow, what part of your current daily routine would you miss the most?

I really believe that thinking through these questions can help you design a retirement that’s not just financially secure, but truly meaningful.

The more clarity you have about purpose, connection and daily structure, the more fulfilling this next chapter can be.