You have retired, now what?

 Congratulations on your retirement! After retiring, what would you do on the first day, instead of going to work?

During the first few weeks, you feel that you are on holiday. I was an educator, and I had two months off, so for the first two months, I was in holiday mode. At the end of the two months, my wife and I did actually go on a holiday and took it another two months. Some of you may have actually planned out what you would do with your retirement. I did not. I retired on a whim, with good reasons but I had not planned out what I would actually do with myself when I retired. I worked full time and part-time, for a long-time before I faced the realization that I wanted to retire, and I found a purpose that I could fill in retirement. So, before you retire, take the time to plan and create a fulfilling retirement. When I started this blog, back in 2010, I wrote about my issues with the idea of retiring and I looked at what the experts wrote and discussed. The focus of the majority was money, not time. This approach is slowly changing and there are a few more experts talking about finding things to do with your time.

Most of us, when we retire, live another 20 to 30 years. We know that there are three phases of retirement. Retirement has three phases. Phase one is active, where retirees travel and enjoy adventures. The second is more settled and less active. Phase three is when aging takes a serious toll.. Remember that life is not measured by the number in your bank account, but the memories you create. One way to create the memories is to consider setting both short-term and long-term goals for your retirement. These goals will provide you with a sense of purpose and direction. They could be related to travel, personal development, volunteering, or anything else that excites you.

Short-term and long-term goals vary depending on your personal preferences and circumstances. Typically, short-term goals in retirement are those you aim to achieve within the next 1 to 2 years. These goals are relatively immediate and can help you make the most of your early retirement years. They provide a sense of achievement and excitement in the short term. Some goals might be planning a vacation, renovating your home, learning a new skill, or volunteering..

Long-term goals in retirement may span 5 years, 10 years, or even longer depending on your health. Some long-term goals are saving for your loved ones, staying healthy, or starting a new career or business. Long-term goals provide a sense of purpose and direction for your overall retirement journey.

It’s essential to strike a balance between short-term and long-term goals to ensure that you plan all three stages of retirement. Short-term goals motivate you now, while long-term goals help you plan for retirement stability. Goals about short term and long term should be flexible so you can adjust them based on your circumstances. An idea would be to review and update your goals if needed every two or three years. This way, you can be sure that your goals remain relevant and achievable in your retirement.