Rewire your retirement

Retirementis a phase of life regardless of one’s age. Finally, you will have the freedom and the time of your life to work and let your vocation be a vacation. You will have the perks and choices to relax or make yourself productive again. It could be something you really wanted to do without   pressure. The exciting part is you will have now the opportunity and time to make the next chapter of your life more worthwhile. One thing you should not forget to do so before you retire is to make sure that your financial and social well-being are well taken care of .The question is, how will you start?

1.       Reflect what you have done so far – In the Philippines as of 2015 our average lifespan for both men and women is 72.75 years old (Source: Life Expectancy).  Retirement means second life so every moment should never be wasted. Evaluate your past, your current status and be excited for tomorrow knowing your purpose. Psychological research says that these are critical components of positive changes in life.  Check your finances; ask yourself whether you have enoughto live for the next 20-30 years. When you don’t have enough funds be practical or seek help from a finance professional.  Look at your bucket lists. You have a new path to travel. Successful retirees are consistent dreamers and action takers. Pondering on everything can take you to the next level.
2.       Be more fruitful – Having so much time but no concrete plans is equivalent to fatal boredom. If you are 60 years old and below, you still got plenty of options to choose from. Kentucky Fried Chicken founder Colonel Sanders took a big leap of faith when he used his retirement income of $105 from Social Security to sell his secret chicken recipe. With an incredible work ethics he built an empire. A fast food chain that we patronize using the only resources he got. Start making your life exciting. Expand your horizon by going out from your comfort zone.
3.       Be a mentor – “The heights and golden years of your life’’. Your life’s experiences will be    the guiding light and a compass to those who are lostin the dark. Create a legacy that will leave an impression and an impact to the society. Philanthropy is an old way of giving back to the community but look at Tony Meloto, the founder of Gawad Kalinga taught us that business is not all about capitalism but you can make a better world through the modern form of giving which is social entrepreneurship.
4.       Travel and explore unfamiliar locations– A time to relax and unwind. If you had been stuck in a place for a long period of time travelling will increase your openness to new experiences.  This is ideal if you were able to save more money. Visit other places nearby will be more feasible if funds are not enough. The more you interact with other people and adapt to their practices will not only gives you fresh perspective but also makes you creative. Traveling can give you liberty to explore new heights. Treat yourself and have time for a little bit of luxury sometimes.
5.       Find a fitness group – Good health and enough energy to get things done daily is a reward. One of your core responsibilities while you are ageing is to sustain your body’s health and wellness. Zumba class at the gym or at home, kickboxing, swimming and high Intensive work outs will bring out the best of you. Choose an exercise or an activity that best suits you.   A famous evangelist once said, “When money is lost; nothing is lost, but when health is lost, something is lost”. Health is wealth as they say. You are not getting any younger. Try to join a club or a wellness and fitness program wherein professional coaches will train you.  It will help you get motivated and reach a goal that you are trying to achieve. Do it now before it is too late
 Start designing the second half of your life. Do not let your fears of retirement gobble you up. Give your life some dignity to retire. Build your wealth brick by brick and soon you will build a bridge that will sustain the life you dreamed of a long time ago. For those retirees, never let dull moments kill and destroy your precious time. Make the most of what you have and be prepared. “Aspire to inspire before you expire.” 


David Isaiah Angway Is a Financial Evangelist

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Filed under Behavioral Finance, Retirement

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