In the past, retirement was typically viewed as the stage of life when one stops working, sells a family home and moves to the beach or another attractive destination. However, as the baby boomer generation enters retirement, many are living much more active lives than past generations. As a result, the term “retirement” is taking on new meaning as a period of life when one can continue working or contributing to the community while also devoting time to passions, education and other enriching activities.

Prepare for Retirement

For many, retirement has become not an end but a new beginning and a new chance to find fulfillment. Regardless of how you choose to spend your retirement years, it is important to plan ahead to make sure you are prepared, both financially and emotionally.

Giving Back

Many people find fulfillment through helping others; however, career and family demands often make spending time volunteering difficult. Retirement can be the perfect opportunity to give time to causes near and dear to a retiree’s heart. There are many ways to become more involved with helping the community, such as through a place of worship, the local animal shelter, the local food pantry, the local public school … the possibilities are endless. Ask yourself what is most meaningful to you and where you might be able to make a difference. Perhaps you can apply some of the experience gained through your career to help better the lives of others—and yourself in the process.

Working During Retirement

Many people continue to work through typical retirement age. Those who have enough savings and no longer need a steady paycheck may consider pursuing new opportunities, such as starting a business, a charitable foundation or consulting gig. Retirement may be an opportunity to tackle new professional challenges.

Pursuing Education

Many of today’s retirees are also finding retirement an ideal time to pursue education in a field of interest. Whether in a formal educational setting or in a self-teach setting, retirement can be the perfect time for many to broaden their horizons and become proficient in new skills. Planning for higher education expenses after retirement is particularly important when saving and preparing for retirement.

Setting New Goals

Retirement is the perfect time to pursue interests you might not have had time or energy for while working. Many recent retirees see their retirement as an opportunity to accomplish new goals. In deciding on the path you would like to take in retirement, consider what you would want to leave as a legacy and how you want to be remembered.

Prioritizing Your Time

Also consider how you wish to allocate your newfound time to accomplish what is most important to you. When properly planned for, retirement can provide an opportunity to turn your time and money into meaning.

Meet With Your Wealth Team

Your in-house wealth team at Mariner is committed to being here for all of life’s stages, including retirement. We can help you plan for both the emotional and financial aspects of retirement to help you achieve your goals and pursue your interests.

This material is provided for informational and educational purposes only. It does not consider any individual or personal financial, legal, or tax circumstances. As such, the information contained herein is not intended and should not be construed as individualized advice or recommendation of any kind. Where specific advice is necessary or appropriate, individuals should contact their professional tax, legal, and investment advisors or other professionals regarding their circumstances and needs.

Any opinions expressed herein are subject to change without notice. The information is deemed reliable, but we do not guarantee accuracy, timeliness, or completeness. It is provided “as is” without any express or implied warranties.

There is no assurance that any investment, plan, or strategy will be successful. Investing involves risk, including the possible loss of principal. Past performance does not guarantee future results, and nothing herein should be interpreted as an indication of future performance.

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