What will you actually do in retirement?

For those of you who are still in the working stage of life and got some time until you are financially independent and able to retire, this might not be a question that you have given much thought to. Or if you have given thought to it, only on a high level.

I recently met with a new client who is within 12 months of this big life transition and asked them this very question. Their response …. ‘No flipping idea!’

Unfortunately that answer is not uncommon and has sometimes even been more expletive. Alternatively, the answer has been some of the generic and typical responses such as ‘travel, maintain the house/garden, spend time with family/friends’.

All of those things are well and good, but also things that can be undertaken whilst still at work (to varying degrees). They are also often things that do not consume large amounts of our time – it is rare that people are travelling for 9 months of the years or spending 6 hours a day with family/friends.

Therefore, it is important to give it deeper thought and answer the following questions to build up a clearer picture:

  • What do my regular mornings look like?
  • What things that I already do am I going to continue doing?
  • What new things would I like to try and do on a regular basis? Have I actually tried them already?
  • What things that I currently do am I going to stop doing?
  • What things am I going to do regularly during the week?
  • What are the things I actually enjoy doing?
  • How many weeks of travel/holidays do I actually think I would like?

Once you have answers to those questions you have a much clearer idea of what you will actually do in retirement!