Welcome to the Summer Edition of The Ultimate Guide For the Successful Steward, Fourth Dimension Financial Group’s newsletter.
The Ideal Retirement?
As you can imagine, retirement is discussed a lot around our office. Most of the conversations are centered around helping people retire on their terms and ensuring (and insuring) retirement lasts a lifetime without worry of running out of money before passing away. Since most people’s careers are setup for a one-and-done retirement – as in, once you retire that’s it – very few people have the opportunity to think about retirement much differently than the standard arrangement.
Imagine a different kind of retirement with me. It’s one where you’re not striving and waiting until 62 or 65 to finally be done working, ready to pack all of those fun things you’ve dreamt about into your ‘golden years’, but with one eye on the obituaries, seeing friends and neighbors passing away too soon, before having had the chance to tackle that retirement bucket list. We’ve all heard the stories, and some of our loved ones have known this possibility all too well. What if we could sprinkle more retirement into our younger years, enjoying the benefits of being active while still being physically able to do all of those things you enjoy. What if a saner work schedule opened up the possibility for a ‘retire as you go’ kind of life, rather than a ‘when I retire, I’m going to…’ scenario? What if retirement wasn’t just for later, but could be experienced now, in smaller doses?
Naturally, this type of ideal retirement isn’t in the cards for the current generation of retirees, and that’s okay. You’re either past or near the finish line anyway, so it’s not an awful thing to have run the race this far under the current retirement model. I do think, however, that my generation and those to follow will carry out ‘retirement’ differently than their parents and grandparents did. It’s a function of technology, experience, and good old youthful yearning that pushes the boundaries of such things.
I share all of this with you because some of the families we work with are considering some non-traditional entrances into retirement. Some are opting for continuing their career jobs as part-time consultants, often to the same company. Others are working in more fun jobs like golf course maintenance or marina work. It’s a choice of opening one’s mind to the possibilities of remaining active and keeping a smaller, but meaningful paycheck coming to serve as ‘walking around’ or ‘paying for healthcare’ money.
Speaking of meaningful, were fortunate to have Richard Chamberlain and Stephen Hanley once again share their insights with us. Richard presents a thought-provoking look at the many facets of planning one’s estate properly, while Steve looks at the practice and impact of investing in dividend-paying companies. I hope you’ll agree that having them on our planning team brings valuable perspective to the retirement planning process.
I hope you’re enjoying the summer and spending quality time with friends and family. Also, be a little crazy and find a large grassy area on a clear day, lie down in the grass and look up. Every time I do this, I remember that I should do it more often. Sure people will probably think you’re crazy, but that’s okay, we’re all a little crazy.
All the best,
Adam B. Cufr, RICP®