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Retire Repurposed: Understanding the Basics

Retire Repurposed: Understanding the Basics

October 02, 2019

Many people underestimate the dramatic life-change that comes with retirement. Retiring Repurposed not only deals with those changes, but helps retirees live with purpose, have impact on others, and leave a legacy. Here are some of the basics behind living a Repurposed retirement.

{AUDIO} Retire Repurposed: Understanding the Basics

Retirement isn't just about money

You have to consider the "life" aspect of retirement. It doesn't matter how well you execute the financial plan, your health, relationships and overall well-being are most important in retirement. Remember, money is just a tool. Yes, retirement planning is important to create income. But, you have to remember what that income can do for you and tie it back to your life.

Retire TO something, not FROM something

In my book, Repurposed: The Untold Story of Retirement in America, I tell a true story about "Jim". When I first met Jim many years ago, he was 62 years old. He wanted to know if he could retire at age 65. After looking at his financials it was clear to me he didn't have to wait; he could retire right now. This is what I refer to in Repurposed as the "worst retirement advice I've ever given". Long story short, Jim's bank account was ready but he wasn't. He retired FROM work, but didn't retire TO something leaving Jim struggling in retirement physically, relationally and emotionally.

Consider your mindset on retirement 

We need to have a shift on how we view retirement. Society will tell you retirement is nothing more than a permanent vacation. Look at any retirement advertisements or brochures. You'll notice retired couples on a far-away beach enjoying wine at sunset. And while there is certainly nothing wrong with travel and leisure, there's much more to retirement than non-stop vacationing. I believe it starts with having the correct expectations of retirement. You should also have  positive mindset on work and how we are/were able to add values to others. Retirement needs to be an extension of that mindset.

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. If you'd like to schedule a no-cost, no-obligation meeting to talk about your retirement plan, give us a call at 320.222.4236, click "Request a Meeting", or stop by our office on 19th Ave SW in Willmar.