More than just money for retirement

We all have many chapters in our lives - some are very long and others are snipetts in time whilst some will entwine your life for years to come others are long forgotten.

To me retirement is another chapter in your life.

Unfortunately the word "Retirement" makes me feel old it sounds like an 90 year old shuffling around... 'Life 2.5' is a term being used to replace the term "Retirement" as is "Encore' or 'Third age'... I'm not a fan of any of these.

Some people retire at 40! That is they leave full time employment. If you are a business owner you are an entrepreneur so do you retire when you sell your business or do you never retire? Perhaps we are all entrepreneurs especially if we have a share/property portfolio or have some interest in making a profit?

I choose the term "Next Chapter". Using this term allows me to visualise a new phase of life, it shouts out "I'm learning and growing", It allows me to be open to new possibilities - I love it, let's look at how I define this stage in life and show you what questions to start asking and things to start thinking about in your next chapter so that it can be as rewarding as possible.

I don't want to make you feel old prematurely but I really believe that you MUST start having conversations outside of the financial arena about your next life chapter after you leave work. It's not only about money! Yes, the chief question of ''will your money out live you" is a great place to start but let's think holistically here...

Elements about your next life chapter including social, geographical, health, spiritual together with money are to be addressed to ensure you have a rounded and real view of what you want, what you need and how you can be actively engaged in moving towards the life you want for yourself after you finish full time work.

Have you asked yourself these questions -

What if I get divorced when I'm 55?

What happens if I get a disease or major health issue after I leave work?

How dependent am I on my family and how dependent on are they on me?

What will I say I do when I finish work and lose that identity?

Where and who are my closest friends and confidants?

How do I unwind and take care of myself?

These are serious questions which you may not take too much notice of but they are important and form part of a private group run by my at Innerself Coaching called Next Chapter Living.

Let's start with a blank page. Even if you are only just 50 and feel retirement or finishing work seems years away or if you are in your early 60's and are feeling the need for more control in your life and its future.

Firstly, it's not all about finance. Yes, money gives you freedom but there is also so so much more.

We are varied - from age to gender to financial situation - but the questions remain the same -

What are your current action steps towards this next chapter in your life?

What feelings do you have about retirement?

Thinking about long walks on the beach? Exotic holidays to cross off your bucket list? Playing with your grand kids? Living across two continents? Playing bridge and tennis all week? Entering your vegetables in Eisteddfods and country shows? Travelling Australia in an RV?

My challenge to you is to list what you vision for your next chapter. Let your mind run wild, don't consider what you have or have not money wise just write down how you think you would like your retirement chapter to look like.

Now, how does this all make you feel? What feelings do these visions evoke?

Invest in this time and in my next post we will develop these further.

Take care

Dawn