planning your retirement lifestyle. 2 06/29/2007 2:30pmeslide - p4065 - worklife4you objectives...
TRANSCRIPT
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Objectives
• Change the way you think about “traditional” retirement planning• Help you discover your passions• Learn how to achieve your goals with what financial resources you have • Provide step-by-step guidelines on how to achieve a successful retirement• Leave you with helpful resources
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Retirement TimelineAGE 908070605040
“I should” plan for it (but I’m not doing anything)
“I must” plan for it (but I’m not doing much)
“I am” planning for it (I’m doing it)Mentally, physically, spiritually, emotionally, financially
Today’s my last day (my new life begins tomorrow)
I’m in transition (1 year)
I’m settled in my new life
Most People Get Stuck Here(this takes understanding and commitment)
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Manual
How To Make
The Most Out
Of The Rest Of
Your Life
The Eight Steps To A Successful Retirement
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5. Plan to stay healthy
6. Develop your plan
7. Take action!
8. Adjust as appropriate
1. Make a commitment
2. Have a conversation with your spouse/partner
3. Discover your passions
4. Do your financial/legal assessment
The Eight Steps To A Successful Retirement
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Step 1: Make a commitment to
successful aging
• Essential• Easy to say/hard to do• Buddies, mentors, allies• Sign commitment letter?• Tell a friend
Commitment Is Essential
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Step 2: Have the conversation
with your spouse/partner
•You’re two people withdifferent interests
•Different ideas on who, what, when, where, how & how much
•Face it, accept it! It’s normal
Conversation With Your Spouse/Partner
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•Need to prepare: read, talk, get into the right mindset
•Schedule time•Set the tone: I’m committed to win-win
•Listen, learn•Swap places•Accept & affirm•Move forward to Step 3
Conversation With Your Spouse/Partner (con’t)
Step 2: Have the conversation
with your spouse/partner
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•What engages you?•What gives you energy?•What invigorates you?•What makes you happy?•What are your talents/gifts?
Defining Your Passions
Step 3: Define Your
Passions
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Discover Your Passions (con’t)• Identify your talents• Recognize what excites you most• Take an opinion poll • Make a “most unwanted” list • Consider people you like to be with • Look for “lightning rods”• Learn by example
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Separate And Shared Passions
You’re doing what you love to do
Your spouse/partner doing what he/she loves to do
Doing together what you both love to do
Imagine Supporting Each Other To Become The Persons You Are Yet To Be!
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Step 4 Do A Financial Assessment
Where do you stand? What do you need?
(Not as much as you think if you’re creative!)
Financial Assessment
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How much do I need?• Housing• Food• Clothing• Taxes• Insurance• Health Care
How much do I have?•Savings, investments•Pension•Social Security•Other entitlements•Home equity•Paid work
Financial Assessment (con’t)
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How much do I need?
How much do I have?
Financial Assessment (con’t)
If there’s a gap:
Keep working (but ONLY at a job you love) Move to a lower cost home or city Spend less
Key to Success: DON’T compromise doing what you love
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Step 5: Plan for Good Health
Where do you stand now Where do you need to be What’s your plan to get
there Who will help you
• Doctor?• Buddy?• Spouse/Partner?
Plan To Stay Healthy
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Plan To Stay Healthy (con’t)
• Get regular physical exams• Exercise regularly• Eat wisely• Manage stress
FACT: 70% of your health is in your control
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Step 6: Develop Your Plan
Where do you stand now Where do you need to be What’s your plan to get
there Who will help you
• Doctor?• Buddy?• Spouse/Partner?
Develop Your Plan
PlayPlay
FamilyFamily
CommunityServiceCommunityService
“Work” you love“Work” you love
PPAA
SSSS II OO NN SS
SelfSelf
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Step 7: Take Action and Get
Started
Take Action
Set specific goals
List action items: what do I need to do to get there?
Commit to dates/timeframes
Inform your employer
Begin!
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Step 8: Remain Flexible
Adjust As Appropriate
Be open to growth and development in new areas
Change lanes when you need to
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