Written by: Barbara Maietta, CFP®
Retirement. Just the word makes you envision sunsets, leisurely mornings, and endless cups of coffee. But guess what? You might be sipping that coffee for a while—potentially 20 to 30 years beyond your working life! With the life expectancy of a 65-year-old woman reaching almost 87 and a man living nearly until 85, retirement is looking more like an entire second act than a short-lived final chapter.
So, what are you going to do with those extra decades? How will you make these years the best ones yet? Let’s dive into the ups, the downs, and—of course—the fun of figuring it all out.
Wait, Retirement Is Challenging? You Bet.
Here’s the deal: many retirees struggle with losing the identity they built during their careers. It’s like going to a cocktail party, and when someone asks what you do, you say, “Well, I was a marketing executive…but now I…err…retired?”
That awkward moment reveals the truth: many people never think about what’s next after they retire or who they are after they end their career. But here’s the twist—retirement isn’t the end. It’s the next step in the grand journey. So, what will you tell people you do once you retire? Because “sleeping in and watching Netflix” isn’t a sustainable identity (even though it sounds fantastic for a week or two).
Redefining Passion and Purpose…Again
Remember when you were in your 20s and spent hours planning your life? You asked yourself big questions like, “What career path do I want? Where do I want to live? Who will be my partner in crime?” Now, fast forward a few decades. At 65, you need to revisit the same kinds of questions: “What gives me purpose? What will my legacy be? How will I stay connected, healthy, and motivated?”
It might sound challenging to examine your passions again later in life, but without this reflection, you risk feeling adrift. And let’s face it: no one wants to reach the end of their life filled with regrets.
The Keys to Designing Your Best Retirement
Making your retirement fulfilling boils down to four key areas:
A Mindset Open to Possibilities
First things first: mindset. This is how you see yourself and the world around you. People with a growth mindset (think: lifelong learners) are open to trying new things, willing to put in the effort, and eager to embrace their full potential. On the other hand, those with a fixed mindset tend to believe “I’m too old for that,” or “What’s the point in changing now?”
News flash: it’s never too late to be the best version of yourself. Spend time noticing your mindset; are you closer to growth or fixed. Challenge yourself to stay closer to a growth mindset, and who knows—you might envision a retirement you absolutely love!
Finding and Exploring Your Passions
Passion is like coffee for the soul—gives you energy and makes you excited for life. It provides purpose and motivation, keeping you engaged and vibrant. Now, the million-dollar question: Where do you find passion at 65+?
Start by looking inward. What activities did you love earlier in life? Which ones make you lose track of time? Reflect on these experiences. And then look outward—read books, listen to podcasts, talk to others about their passions. Try new activities, even if they seem out of your comfort zone. If something doesn’t click, ask yourself why, and keep exploring.
The journey to finding your passion doesn’t have an age limit—it’s never too late to wake up with excitement for the day ahead.
A Lifestyle Plan to Guide Your Journey
Just like planning for your career in your 20s, designing your retirement requires thoughtful planning. The key is setting goals—at first, they may be about exploring different interests, and eventually, they’ll grow into long-term goals that shape your next phase.
Here’s the beauty of retirement: your plans can (and should) be flexible. Not everything will go according to the initial blueprint. Embrace the detours and let your plan evolve with you. After all, life’s greatest moments often happen when you least expect them.
Investing in Your Physical and Financial Health
Retirement doesn’t work without two crucial elements: physical and financial health. If you want to be able to attend the graduations, weddings, and family gatherings—or be the grandparent who’s up for anything—you’ve got to invest in your body now.
Think of it as training for your marginal decade—those final 8 to 10 years when health can significantly decline. Will you be the one who’s still vibrant and engaged? The choice starts today. Get moving, exercise, and build strength and stability. Your body and mind will thank you. Research shows that exercise is the #1 most important way to improve your health and life span. Find a health coach to help you put together a plan to train for your marginal decade. Start here and then move onto eating right too.
Oh, and financial health? That’s what keeps this whole thing possible. Whether it’s working with a financial planner or keeping an eye on your spending, financial security provides the foundation to support the vision you have for your retirement.
Designing a Future You’ll Love
Retirement is not an ending; it’s a new beginning. Sure, it comes with challenges, but it’s also filled with opportunities to discover what truly makes you tick. With an open mindset, a plan to explore your passions, and a commitment to your physical and financial well-being, these years can be some of the most fulfilling of your life.
So, start the next chapter with intention, design your retirement around your dreams, and invest in a lifestyle that ensures you’re living your best life—whether that’s traveling the world, taking up a new hobby, or simply being present for the moments that matter most. Oh, and the next time someone asks, “What do you do?” you can proudly say, “I’m living my dream—retirement style!”
