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Like transitioning from school to the workforce all those many years ago, transitioning from the workforce to retirement may
not be as simple as it first appears. And setting yourself retirement goals (before you retire) is a good way of preparing
yourself for this new and exciting phase of your life.
And it IS exciting. So many people fear retirement because
they see it as the ‘end of their useful life’. But it’s not. Retirement is just the beginning of the rest
of your life and depending on your health, your retirement phase could be as long as your working life!
But it
does take some adjustment – afterall you’ve probably been working 40 hours or more a week for the last 40 years
or so – it is a bit of a shock to the system to suddenly be on permanent vacation! And some people don’t cope
with this sudden change. So it is really important to plan for it and transition into retirement – just as you had a
plan when you left school.
How do you set retirement goals?
Well here are some things for
you to think about: - What are your family roles likely to be during retirement? For example, do you have a hand in
raising your grandchildren or supporting your partner or children? Are these roles going to change once you retire? Perhaps
you want to spend more time with your kids and grandkids?
- Are you and your partner entering retirement at the same
time or is one of your retiring before the other?
- Are you ready to leave the permanent workforce or are you interested
in and able to continue working on a part time basis to transition into full retirement?
- How is your health and your
partner’s health? Does this limit what you can do during retirement? Are you able to drive a car or travel?
- Where
are you going to live during your retirement? Is the family home too big and empty and too hard to maintain? Or do you enjoy
tending the gardens? Would you be happier in a retirement (lifestyle) village or an apartment?
- What are your hobbies?
Or are there any new hobbies you’ve been dieing to try but never had the time? Retirement is just the thing for getting
into your hobbies - golf, knitting, art, craft, woodwork – and many more exciting things to do!
- Do you want
to travel and see the world now that you finally have the time? Where do you want to go? What do you want to do when you’re
there?
The key thing to remember is that it is all about YOU (and your partner of course). You’ve worked your
proverbial butt off for so long and it is now time for you to do what YOU want to do.
Now Prepare SMART
Goals and Action Plans
Once you’ve got an idea of what you want to do, it’s time to put your goals
in writing. Using the acronym SMARTER effective goals have the following characteristics: - Specific
- Measurable
- Actionable
- Realistic
- Time-based
- Exciting
- Resourced
Goals
which conform to these points usually can and will be achieved. Those which don't are likely to remain dreams, and not
a reality.
Of course, the other factor in this equation is whether your retirement goals are affordable or not
– you may need to revisit your goals if you’re unable to fund your retirement.
And the final step is to turn your goals into a step-by-step plan that shows you HOW you are going to achieve
your goals.
For the best advice on how to set and achieve goals check out Achieve Goal Setting Success.
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