“Don’t act your age in retirement. Act like the inner young person you have always been.” – J. A. West
If you do an online search for the term ‘retirement planning binder’, you will get results for financial planning activities. Also, most books are focused on the financial planning side of retirement. Of course, without a solid financial plan, there is little point in planning anything else. Therefore, seeking professional financial advice is a must. Reading books and watching videos, and even talking to other retirees can help build confidence in your financial plan.
What becomes of retirees who only participate in financial planning and do not consider the other facets of what life will be like post-work? Apparently, some of these folks do not do so well in retirement, if they actually retire at all. A colleague once said to me, “I don’t know what I would do in retirement, unlike you, I don’t have any hobbies.” That seemed so sad to me. I guess because I have so many interests, it is hard to conceive of people who are different. Maybe to be more focused on just a few things, like work and sport for example, a person can really excel. Perhaps because I have had too many interests, (that I could never devote enough time to), I’ve been the more frustrated one. But I’ll be more than ready for retirement!
Since there was not a great amount of information about creating a retirement binder available as a reference or inspiration, I just dove into the activity blindly. First I made a cover page for the outside which contained all the synonyms for retirement. I also included some phrases of what retirement means to me.
Inside a plastic sleeve after opening the cover of the binder is a 7-step process summary of moving from a ‘INTAGIBLE DREAM’ to a ‘DEFINED GOAL’. This is pasted onto a small journal with blank pages to allow for detailed planning of the 7-steps.
The next page is a grid showing my whole life in weeks and years, (assuming I live until 88-years old). By my retirement date I will have lived 64% of my life. This page is a sobering reminder of why it is so important for me to retire as soon as I possibly can. I’ve got endless curiosity for ways to spend my days. I have fully experienced working for the best interests of a corporation. It is high time to try something else.
The first tab is labelled ‘FINANCE’. Of course that is the first hurdle that must be cleared. In truth, I’ve technically been able to retire for a few years already, from a financial perspective. But, the budget was lower than I felt comfortable with and there were certain sacrifices I was not ready to make. I wanted a few more years to build a larger financial cushion allowing for greater freedom and flexibility. This extra time has given me the confidence to pick a retirement date.
The next tab is all about ‘EMOTION’. In particular, there is a page in this section where I have created 2 lists. There are 15 things which detail what I will not miss about work. Every statement on this list relates to time, fairness, stress, values and freedom. I’ve been quite specific describing the issues that bother me most. The second list contains 5 things that I will miss about work. For each of these statements, I have included what the antidote could be in retirement. These antidotes will require the action of putting myself out there in a post-retirement world. Because I will not be forced into a social environment on weekdays, I will have the opportunity to create this. Without the nagging feeling of not being able to commit to a new social group because of impending work trips, I can be myself again. I can follow my curiosity.
I have a section labelled ‘REVIEW’. It goes without saying that by this age, there are many data points to look back on. This could someday be a memoir, but for now it is a life overview by decade. What I am more interested in is the next tab where I am gathering information about ‘SELF-ACTUALIZATION’. I’ve not bothered to spend any time on this topic in the past and still this section is very thin!
I’ve got a better sense of ‘PURPOSE’, outside of work. To kick this section off I have listed 30-topics or ideas, including research I am interested in doing. Then I have a list of things, (33 and counting), I might do. No commitments, just thoughts of interest as and when they pop into my mind.
‘TIMELINE’ comes next. This is a work-back of all the big things that need to be done. When do decisions need to be made in order to move forward. What tasks need to be completed and so on. I can see upon reviewing this page that it is already out of date. New plans have been confirmed and my timeline needs to change, but that is totally fine and part of the process.
The second to last tab is ‘GOALS’. This section is the result of working with a coach for the last year. At the beginning of 2024, I knew I wanted to be planning for the future but enjoying the present as much as possible. In my youth I didn’t always enjoy the age I was in the moment. I yearned to be older and be living a different reality. That caused me to miss a bunch of the richness of life along the way.
The last tab is strangely defined as ‘RESUME’. My old CV’s are here, but this is not just a convenient filing place. Here is where I want to redefine what a resume is for the future and for parts of my past. In a practical sense this could include a health history. But it could also include all the places I have travelled to in the world. Or the many places I have lived! This will be how I want to see myself outside of my professional accomplishments.
This binder will evolve. I’ve researched some refinements for topics to be included. Here are some considerations:
- Health & Wellness
- Hobbies & Personal Interests
- Social Connections & Community
- Purpose & Personal Growth
- Fun & Leisure Activities
- Lifelong Learning & Self-Improvement
- Time Management & Scheduling
- Aging Gracefully
- Pets & Animal Companions
- Living Legacy & Sharing Your Story
- Technology
- Environmental Concerns
- End-of-Life Planning (Non-Estate)
This list shows there are so many facets to a life! On one hand, I’m a little sad that I have prioritized my corporate job and earning money above almost all of this. Regret won’t help, now is the time to set myself to rights. This is a worthy personal pursuit, even outside of retirement planning.
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