Retirement freedom can also be a trap
Retirement freedom can also be a trap if one is not prepared. It can be a trap into cages called regrets, catch ups, make ups and getting worked up.
It’s easy to get so engrossed in the pressures of daily worklife that at age 50, it’s not unusual to still be asking the question, what is life in retirement all about? As a very dedicated worker, you give your all to work. But it is possible for you to realize late at retirement, that you have been left behind in other critical areas of life.
“Don’t get so busy making a living, that you forget to make a life”
No highly valued golden chain – job security, benefits or rewards – is worth the suffering and laboring at a great or mediocre work life, if the end game is another chain trap – top regrets of retirees. We can be chained to a routine worklife that has killed dreams, though it gives most of what we seemingly want from life, now.
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Someone’s entire worklife can be very fulfilling, and it should be. But retirement is a time to experience a different type of fulfillment in life. A time to experience many enjoyable and rewarding activities. It does not mean a time of no work. How we all define work is very relative.
Retirement freedom and financial independence can come very early
For a few, retirement and financial independence can come very early in life. Some made their best move retiring early, and some others have regrets retiring early. However, the reality is that, for most people, retirement will come with ‘old’ age. Just like when we stepped into pre-school, college, then our working life, retirement is a blank sheet of paper. It is different if we enter into it at old age because it can send us back to pre-school.
“Anyone with a pension or retirement is an investor in the stock market” – Brad Katsuyama
Unlike pre-school, we do not have the benefits or disadvantages of life varied experiences, successes and failures. It is nevertheless a chance for us to redesign our life into something new, different, and maybe vibrant. Most life commitments done away with, and free from the shackles of ‘forced’ worklife.
“It’s nice to get out of the rat race, but you have to learn to get along with less cheese.”
— Gene Perret
More than half of retirees have retirement regrets. It is a painful part of your existence to wish you can go back in time and start all over again. To have a second opportunity to correct mistakes, love and express it, forgive before it is asked for or avoid devastating decisions. Ever wondered what you would say to your younger self at retirement?
Retirement offers a unique freedom that can only be maximized if you are prepared. When should retirement planning start? How should you prepare for retirement?
Send me an email and let us evaluate your personal circumstances.