Mix These Four Essential Ingredients to Cook Up a Happy Retirement

Recently I attended a colleague’s retirement party.  It was the first time I had seen many  co-workers since I left the workforce four years ago.  I was surprised that so many of them were surprised by how happy and relaxed I appeared.  Several asked me what “my secret” is.  I didn’t have an answer then, because I hadn’t given the matter much thought.  But given my current abundance of free time,  I’ve been able to ponder the subject deeply and have come to the conclusion that the “secret” isn’t so secret at all.  It all boils down to four really simple ingredients.  I hope you are enjoying the cooking analogy–after years of “on my radar, teeing things up, drilling down, hitting the ground running, and pushing the envelope”, I figured it’s time for a change.

You ready?  The essential ingredients for a happy retirement are:

  • Strong personal relationships
  • Adequate financial resources
  • Good health
  • Oomph

I told you it was simple, but hey,  Tom Jefferson got a lot of mileage out of stating ‘self evident’  truths, so let’s see how it will work for me.  Besides, ‘knowing’ and ‘doing’ are two very different things.  I think we all know that family and health are important, but how do we behave?   I certainly was guilty of letting the work day spill over into family and friend time.  I skipped exercising and ate far too many fast, easy (and less nutritious) meals.  So, today’s post will start with the ingredient that has a tendency to crowd out the others:

Adequate Financial Resources
Isn’t that the reason we put in all those hours–to ensure that we have “adequate financial resources”?   Over time, I learned that the most important word in that phrase is “adequate”.

Although I benefited greatly from working for insurance companies that regularly flooded me with information about financial planning, saving, & pensions, what was probably most helpful was a wonderful book by Joe Dominguez and Vicki Robin, “Your Money or Your Life”.   This easy to read book helps you become aware of the trade offs that you unknowingly make by overspending. My favorite quote:

Rich only exists in comparison to others, but financial independence means that you have enough and then some.

Without trying hard, I’ll bet we can easily think of someone that has greater financial resources than 95% of the world’s population, but they always seem to want more.  They haven’t quite grasped the concept of enough.

Two of my closest friends have traveled all over the world on very little money.  For example, they managed to spend a month in Greece and two weeks in Ireland on what they had saved from two years of Peace Corp salary!  They know what is important to them, and their spending reflects what they value.

When I was growing up, my dad  used to tell me  “Your wants are many, but your needs are few”.  He was so right.

So, for all you young ‘uns out there, before you slap down your credit card, you might want to take a minute to think about to how you are allocating your dollars and your “life’s energy”, as Dominguez and Robin put it.

How did we get those resources?
I’ll admit it–we have been lucky.  We haven’t had any major illnesses or financial catastrophes.  And, although we both were impacted by mergers and acquisitions, we were able to find other employment relatively easily.

We also decided to give Lady Luck a helping hand.  As our incomes rose, we didn’t increase our spending.  Instead we opted to increase our contributions to our no-load mutual funds.  We didn’t run up credit card debt, only charging what we could pay off by the time the bill arrived.  We saved so that we could pay cash for our cars, maintained them and kept them well past their first decade.  Instead of a monthly car payment, we made those “payments” to ourselves, so we weren’t paying interest, we were earning it.  And guess what?  We never felt deprived.

It all goes back to knowing what is important to you, and making sure that your behavior aligns with your objectives.  Simple in concept, sometimes challenging to do.  But SO very worth it!

Next post–Good Health!

Just what exactly does a Lifestyle Manager DO?

On December 1, 2015 I started my fifth year as the CEO of Destination Now, a Lifestyle Management company.  In honor of this milestone, I thought I’d create what in the business world might be known as an annual report.  Except in THIS case, there are qualifiers: I didn’t do one for the past four years –so much for annual–I and don’t expect to do another one ever again. Plus it is REALLY, really short.  You ready?

Mission statement: To make the most of every day, occasionally to enjoy both walking down memory lane, and peering into the future, but to stay fully focused on and present in the PRESENT.
Number of Employees: ONE (that would be me)
Customers:  One MAIN customer (my loving husband), plus a very select group comprised of family and friends (who are willing to let a control freak take charge)
Revenue:   Cash: $0.00;
In Kind: Caboodles of wine, dinners, memories and friendship (all tax free!)

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Okay, so that’s a long winded way to say that I’ve been retired for 4 years, and am having a fantastic time planning and executing fun, food, and travel for my husband, my family and friends.  It’s just that occasionally, when asked the inevitable question “what do you do”,  I feel compelled to get creative.  Be honest–which version did YOU prefer?

More free time has allowed me to become more self aware, and I have to acknowledge that I do better with goals and objectives.   Before I retired, I took to cyberspace to see what I could learn from those that had trod that path ahead of me, and I benefitted greatly from their words of wisdom.  So, over the coming weeks, as a way to ‘pay it forward’,  I have set a goal to post more regularly, sharing what I have experienced/learned over the past 4 years, in the hope that doing so will help others more easily transition to this new life stage. As a bonus— we will ALL learn whether I can emulate the discipline shown by some of my favorite bloggers who post regularly.

 

 

Why Blog?

Three and a half years ago, I discovered blogging can be a really great alternative to sending postcards.  No need to have the correct currency for purchasing stamps, no  searching for mail boxes in unfamiliar places, plus the images you share are what you have actually seen while traveling.

Blogging is far easier than emailing, especially if you are sending photographs.  I learned the hard way that if you send a photo in ONE email to multiple recipients, your usage is calculated by multiplying the size of that attachment times the number of recipients.  When you blog, you only burn through the MBs it takes to upload and post the attachments. BIG difference, especially if you are blogging from someplace without free internet or with a very SLOW connection.

My blog has become a way to stay in touch with my family and friends while traveling–to share the excitement I feel when discovering new places, people and cultures with those who, for whatever reason, don’t wander as much as I do.

I will confess to being concerned that my blog might appear to be too “look at me, look at ME and what I’m doing”.  I also recognize that my life might not be so fascinating to others.  Sometimes it isn’t all that fascinating to ME, if the truth be told.

Then I discovered other bloggers.  It took a little effort to slog through all those financial blogs to find the retirement ones focused on making the most of this wonderful and exciting stage of life!  And I realized that I thoroughly enjoyed how my new virtual buddies shared their thoughts, experiences, travels, photos.  I’m following a diverse group of essayists, humorists, travelers and photographers. That made me think that maybe, just maybe, others would enjoy my contributions as much as I enjoy theirs, and helped me get over my New England reticence.

An unexpected blogging bonus was meeting one of my favorite bloggers face to face when we both happened to be in San Francisco at the same time.  (If you ever wondered why any one would want to visit Antarctica, just spend a little time perusing her posts on Travelpod. )  One of these days, with a little luck and a lot of planning, Nancy and I will share an adventure that won’t be virtual.

Next week I’m off to Mexico for another Global Volunteers adventure.  I hope you’ll come along!