Retirement is a massive life-change. So, the transition into retirement needs to be carefully plotted and planned out. Here are three things to consider before making the leap from your career into a Repurposed retirement.
Knowing the right time to retire
YOU retire when YOU are ready. Don't retire when societal norms or the government tells you. Best case scenario: you retire when work is beginning to get in the way of your life. You're plugged into other communities of people, getting involved, adding value to family/friends and enjoying outside hobbies. When you feel like there is so much more you can offer, but can't because of work, then retirement becomes a springboard into a fresh, new season of life.
Consider doing some "bridgework"
"Bridgework" can be really useful for people wanting to make a slow, methodical transition into retirement. This transition may involve going to your employer to modify your current position, role, and/or schedule. Perhaps, this "bridgework" is a new job completely giving you a platform to continue to add value by using your skills and abilities. However, this would be a bit of step-back from the career you spent building over the last few decades.
Quitting "cold turkey" can work
Jumping into retirement "cold turkey" certainly can work and does work for many people. We see clients do it successfully all the time - flipping the switch from career to retirement overnight. However, don't make this decision on a whim submitting your two-week notice without some serious planning both financially and non-financially. You must understand how important work has been for your life and plan to make retirement an exciting new season.
At Taatjes Financial Group we take pride that we not only help clients plan financially for retirement, but coach and guide them into a retirement of purpose and fulfillment.