Are You Retiring To Something or From Something?
Most people come to Kyle and Murphy Financial Group with financial questions about their retirement. Do I have enough money saved? Will the money last? Have we planned appropriately for taxes? While financial concerns are an important part of retirement planning, they aren't everything, and not even the primary question to deal with. After working through financial concerns, Kyle seeks to understand what it is that his clients wish to do in their retirement -- what their goals and dreams are, what roles they want to step into after their working life -- and this often proves to be a difficult question for them. Many people spend so much time thinking about money in retirement, that they forget to reflect on what they actually want to do in retirement.
As Kyle likes to phrase the question: are you retiring from something, or retiring to something? Retirement can be a difficult transition for people, especially if they derive a lot of fulfillment and a sense of identity in work. Without a clear vision of what retirement will look like, it's difficult to pull the trigger on actually retiring. To that end, Kyle recommends thinking about three aspects of retirement to help make your retirement vision more concrete:
* Financial: these questions can be answered fairly concretely, especially with the help of an advisor like Kyle
* Psychological/Social: how do you want to feel in retirement? How do you see your identity and role in society changing when you retire?
* Physical: what activities do you want to do in retirement? Do you see yourself traveling, playing sports, being more active in general? Does your retirement plan allow you enough time to pursue these things while you have the ability to?
Whether you a few years away or a few decades away from retirement, working toward a clear picture of what your retirement looks like financially, psychologically, and physically is the most important part of your retirement plan.
Connect with Kyle
Email: kyle@murphyfingroup.com [kyle@murphyfingroup.com]
Web: https://www.murphyfingroup.com [https://www.murphyfingroup.com]
LinkedIn: https://www.linkedin.com/in/kyle-martin-cfp®-aams®-05033352 [https://www.linkedin.com/in/kyle-martin-cfp%C2%AE-aams%C2%AE-05033352]
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