Imagine if you set yourself up for the perfect stress- and worry-free retirement. What if you could have financial freedom and retire at any age? What would that look like and what would you do?
Financially, what would the perfect retirement look like for you? Possibly a stream of tax-free income that lasts your entire lifetime. Never having to worry about how unpredictable income taxes affect your standard of living again. Or, possibly having a guaranteed lifetime pension that will continually increase, even if you lived a healthily life to age 100 or longer? If you planned purposefully, you could have both — a guaranteed lifetime pension that is also tax free!
Now that you planned, how would you enjoy your perfect retirement?
Ideas for a Perfect Retirement
Well, here’s a list of ideas to inspire you:
This might be one of the most common goals for all my clients once they hit their retirement years. Especially if you didn’t get the chance to do it during your hard-working years. Now that you’re not restricted to a few weeks of vacation per year, you can plan many trips a year and explore the world. First, decide what type of traveling you would like to do. Maybe you would like to explore culture and indulge in completely different life experiences. Possibly immerse yourself in a different country every 4 months for a year. (Yes, that is one of my plans. Currently thinking Singapore, somewhere in Europe, somewhere in Africa, and Israel). Maybe you’re the type that can appreciate history and unique architecture. Maybe you would enjoy a month-long or year-long cruise around the world. Or maybe you love nature and want to explore the vast ecosystems of the world, deserts, jungles, millennial forests, mountains, the northern lights…the options are only limited by your imagination.
As you know, keeping your body moving and active is a key element to maintaining your physical and mental health. Why not do it while also having fun? Make sure you choose the right sport for you; find something the captivates you, something you enjoy, and possibly something that includes your spouse or partner or a social opportunity. These aspects will make your sport feel more like a hobby than an obligation or chore. Some popular options include golf, tennis, bowling, surfing, swimming, hiking, cycling, and that new retirement fad, Pickleball.
Learning isn’t restricted to your college years. Learning is a lifelong skill and pastime that provides a great opportunity to expand your skill set and keep your mind healthy. Experts say that learning a new skill or academic topic can greatly reduce the risk of memory loss and other mental issues. Find a topic that is enjoyable and inspires you. Now’s the perfect opportunity to get into those topics that you didn’t have time for during your working years. I plan to combine sport and learning by studying golf. Seems like a 4-year endeavor, don’t you think?
- Pick up a new hobby
Now that you’re no longer restricted by tight schedules, you can dedicate time to the activities you enjoy. If you don’t have a hobby, let’s find one. You might be surprised when you try something new that you didn’t previously believe you would enjoy. Some new hobby ideas can include gardening, bird watching, painting, pottery, fishing, cooking, etc or buy a metal detector or join a book club.
- Tick off some bucket list goals
Now that time and money are no longer a problem, you can dedicate yourself to fulfilling some of those goals you always dreamed of. For me, one of my many goals is going to outer space. Now with Virgin Galactic selling flights to outer space, my goal isn’t too out of reach. If you don’t have a bucket list, maybe it’s time to make one. Sit down and make a list of 100 things you want to do during your lifetime. While you are at it, make a list of 100 of your accomplishments. You will probably be surprised by what you accomplished so far.
All these possibilities are opened doors helped by your smart planning during your working years. Imagine that time and money are no longer a concern and now you have the rest of your life to travel, adventure, learn and enjoy.