I want to talk with you about the phases of retirement, but believe it or not, many people don’t think about this until they’re retired.
Pre-retirement is when you ideally concentrate on saving for retirement but it still seems far away.
Then the day comes and you officially quit your job and have the retirement party. Now you’re into the “honeymoon” phase where you enjoy being free of going to work every day.
But realty hits at some point, and now you have that “is this all there is” moment? And you realize I don’t have a paycheck like when I was working and I am now using my retirement funds. These next phases are different for everyone but you explore what your new identity will be. What are you going to do with your time? Once you establish this “new” you, before you know it, this retired life is your “new normal” and a routine sets in.
By thinking about these phases now you can better prepare for your retirement.
Putting a financial plan in place, including a budget, you can also, figure how to factor in the fun things you want to do in retirement.
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