One of the biggest roadblocks I’ve witnessed with members over the last 32 years in my role as The Retirement Coach is not financial.
There are three questions everyone has on their minds when we meet for the first time:
- Do we have enough? (i.e. to stop working if we choose to)
- How much can we afford to spend (or help our kids and grandkids) without the threat of running out of money?
- How can we make our Retirement Bucket™ of investments last?
Once we remove the financial hurdle and custom design a Retirement Blueprint™ to answer those three big questions, there is a strange reality that kicks in for those who have done a great job saving money: after 30 or 40 years of working and saving, they no long “need” to do it anymore.
Note the key word in quotation marks, i.e. “need.” Released from the burden of the need to work anymore to support themself financially, many active and successful folks struggle with what to do with the rest of their lives.
And, with life expectancy growing and growing, that’s likely to be another 20 to 30 years!
The solution to this issue is never just one thing! It’s many things which is why I have always loved David Corbett’s book Portfolio Life.
Corbett describes a “life portfolio”- a balanced mix of work, learning, leisure, family time, and donating time that individuals tailor to their personality and goals.
He elaborates a disciplined, step-by-step process for creating this portfolio life with long and short-term planning.
If you have ever struggled with the thought of “what’s next,”, I strongly recommend picking up a copy of Portfolio Life and reading it: Portfolio Life – Amazon. I look forward to hearing your feedback.