Planning for Retirement: Retirement Observations

Planning for Retirement: Retirement Observations

Charlie Jordan, CPA, CFP®, CeFT® | Partner in Charge, Retiring Well | Lead Advisor


“Observation, not old age, brings wisdom.” - Publilius Syrus

In many of our previous issues of the Retiring Well Connection, we have introduced the framework of our Retiring Well practice area here at Brightworth. This framework consists of four pillars:

  1. Two Sides of Money
  2. Five Phases of Retirement
  3. Ten Elements of Retirement
  4. Planning for Retirement

Our final pillar, Planning for Retirement, is comprised of self-assessments and exercises designed to: (1) envision life in retirement, (2) plan for how to spend your time (3) craft an initial blueprint for how to utilize your wealth and cash flow to improve your life in retirement and (4) ensure your wealth is positioned effectively for your retirement.

We will begin with building a vision for life in Retirement. Our first exercise is Retirement Observations.  What have you observed about other retirees?

Although the classic image of retirement is a life of financial security and leisure, many of us have seen a less positive side of retirement as well. If your parents started arguing more once Dad retired or if one of your newly retired friends is having money problems, you might worry that your own retirement is going to be less of an extended vacation and more of an endless worry. Complete the observations exercise below to help flesh out and give words to both your own hopes and fears of this new phase of life. When you've finished with your lists, you should have a clearer picture of what kinds of attitudes and habits you want to incorporate into your own retirement and some potential pitfalls to avoid.  This knowledge is so valuable for both you and your advisor as you build your plan for life in retirement.