You’ve worked the majority of your life and deserve to have many blissful years ahead. With a proper plan and execution strategy in place, you should be on track to accomplish your retirement goals and dreams. But while working on your finances, take time to consider these three priceless pieces of retirement wisdom.
The first bit of wisdom is to try not to “check out” of society in retirement. Retirement is a time to relax, but relaxing shouldn’t mean that you stop everything. A body in motion stays in motion. Use this time to increase your involvement in your community and the lives of others, or do something you love. By doing this, you can meet and make more friends, discover hobbies that you never knew you’d enjoy, and keep yourself engaged, active, and busy.
The second is that your wisdom is priceless. So, why not try and find an opportunity to mentor someone younger? Whether it’s someone at work, a grandchild, or someone random, spending time with a younger person can be a great way to utilize your wisdom, feel useful, and have fun. Your mentee will benefit from your time, knowledge, and experiences, and mentorship can be a rewarding way to spend some of your free time. Your mentee may even engage in reverse mentorship and offer knowledge in areas that you wish you knew more about.
And the third piece of wisdom is to resist the urge not to spend money to leave more behind for heirs. It is possible to pass money on to your children without feeling broke in retirement. Your children would likely rather see you enjoy your retirement than not spend any of your hard-earned savings. A happy medium between saving and spending can make all parties better off.
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The commentary on this blog reflects the personal opinions, viewpoints and analyses of BML Wealth Management’s employees providing such comments, and should not be regarded as a description of advisory services provided by Cooper Financial Group. The views reflected in the commentary are subject to change at any time without notice. Nothing on this blog constitutes investment advice. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance is no guarantee of future returns.
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