The Golden Years – What will you be doing?

So far, we have covered various issues such as how to prepare our minds as we think through, plan and manage finances and health before and into retirement. We have gotten to the point where you have finally retired, gone on a vacation and are now back home to continue working with the realities of […]

So far, we have covered various issues such as how to prepare our minds as we think through, plan and manage finances and health before and into retirement. We have gotten to the point where you have finally retired, gone on a vacation and are now back home to continue working with the realities of life.

At this point many things would have been settled, the major two of which are your life’s purpose and what you will be doing in retirement. The former is often short and clear while the former, which we will take in greater length today, can be broad and loose.

Your life’s purpose in retirement: We mentioned that having a life’s purpose gives us focus, clarity, resilience, and hope, and enhances our effectiveness. Without purpose we go through this life like a child’s kite in the air without a control string, thereby making it next to impossible to handle, talkless of leveraging our potentials, resources and the forces of nature that life throws at us. Being clear about our purpose in retirement must be settled in advance of retirement. Some questions around this would include; What do you cherish and value at your deepest core that you would want to pursue and live by at this stage of your life? What value do you want to continue (or start) to create for yourself, those you love, your community, nation and the world? What will you be most happy and proud of doing? What do you want to be remembered for? A purpose is not so much about how grandiose it might seem to others but more about our valuation of what it means to us.  Without a clear and articulated purpose, we would risk spending an important stage of our lives without depth, worth or true satisfaction.

What will you be doing? Recall we discussed that if not well-planned, retirement can trigger a sense of loss of identity that our careers, professions and businesses gave us; It can lead to sedentary lifestyles when the routine and physical activities of our careers are taken away. Consequently, another important matter that must have been settled at this point is the issue of what you will be doing. There are many options available.

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You may have decided to remain fully or only partially active in retirement. For all you care, you may have even decided to ‘settle for the rocking chair’. Whatever choice you make is personal and none is better than the other as long as a few conditions are met. One, you maintain a healthy lifestyle and be in good control of what will help your health. (Even if you have underlying health issues, doing the best you can to manage it is the minimum of what is expected of you.) Second, you are on top of your finances. (Whatever you do, keep an eagle eye on your assets, income and cash sources and outlays religiously.) Remember that you may easily outlive your resources if you mismanage them early on in your retirement.

In deciding the details of what you will be doing, I suggest that you think in terms of the value you will be creating for yourself and others; ‘Enjoy’ what you will be doing and perhaps make money if you opt and is legitimately possible to do so; Keep yourself healthy. Consequently,  we can group your activities along two dimensions as follows:

Depth: The Core (the most important) and The Peripheral (the helpful and supportive)

Effects: Financial and Health (both physical and mental)

Between these two, the following are possible:

• Continue some aspects of what you have been doing. If, for instance, you have been a water engineer, you can decide to set up a business providing some water resource engineering or advisory services. This can create series of activities for you to be physically and mentally active and be financially rewarding as well.

• Create a new engagement: You may have been a water engineer in your active career but could choose to teach at some university that can benefit from the wealth of your industrial experience. In creating a new engagement, you may choose to set up an NGO that will be involved in planting trees or recycling plastic waste in your community even if there are no financial rewards. Yet, you could also choose to mentor some younger persons on professional and life advancement; Start an agricultural business or just a backyard gardening. The options are vast.

• Inject specific activities that will make you happy: Desirably, we should be happy doing everything we choose to do at every stage in life but particularly so in retirement. However, this doesn’t always happen. So, depending on what else we do, we may need to introduce other specific legitimate activities that make us happy. They may be of intellectual, social, business or leisurely inclination such as playing some mental games, visiting extended family and friends, watching comedies, or early morning walk. Input activities in your routine that will make you happy, positive and upbeat.

• Continue developing yourself: Personal development should be a lifetime preoccupation. Get books to read; Attend trade and professional events that will expose you to new developments locally and globally, etc. In doing all these, be of value to others by making worthy contributions. Contrary to our usual expectations, contributions are not necessarily always financial. We can offer information, words of wisdom, guidance, and encouragement to those we may find in need.

At the end, we should have a life purpose in retirement, create a routine of activities that give us or maintain our desired identity, perhaps some additional income, improve our health, be happy and continuously develop ourselves. Next week we will take up relationship management.