Will You Be Ready? Crafting Your Retirement Vision with This Step-by-Step Guide

Retirement marks the beginning of a new chapter filled with exciting possibilities, but it can also feel overwhelming when you're unsure of where or how to begin. Whether you’re looking for inspiration or practical guidance, we’re here to help you shape a retirement that is uniquely yours.

Drawing from ideas like Ikigai, a Japanese concept that means "a reason for being," we put together guidelines that can help you create a vision for retirement that aligns with your passions and purpose. Think of it as your personal roadmap to a fulfilling and meaningful life in retirement. Ikigai focuses on four key elements:

• What you love (your passion)

• What the world needs (your mission)

• What you are good at (your vocation)

• What you can get paid for or volunteer for (your profession)

Using this framework, along with simple guidelines, you can craft a retirement vision step by step. Here’s how to get started:

Step 1: Reflect on Your Values and Interests

Take a moment to think about what truly matters to you. What are your core values? What activities bring you joy and fulfillment? Whether it’s volunteering, taking up a new hobby, spending more time with family, or exploring the world, identifying your passions will help shape your retirement vision and guide you toward meaningful pursuits.

Step 2: Set Goals

Once you have a sense of your values and interests, set clear, actionable retirement goals. What do you want to achieve in this exciting new phase of life? Setting specific, measurable goals will keep you motivated and focused on what’s most important to you. If you’re looking for inspiration, I highly recommend keeping a goals book like these ones from Kikki-K, or exploring other goal-setting books (these are unsponsored recommendations based on my personal experience).

Step 3: Consider Your Finances

While retirement is about more than just money, it’s important to assess your financial situation. Take stock of your current resources and how they align with your goals. Consulting a financial planner can help ensure that your vision for retirement is financially sustainable. Websites like Money Smart from the government offer valuable resources and advice on choosing a financial planner that fits your needs.

Step 4: Embrace Change

Retirement brings about major life changes, and it’s essential to approach them with an open mind. Embrace the shift and stay open to new experiences. Your retirement vision should be flexible, allowing room for growth, exploration, and stepping outside your comfort zone.

Step 5: Take Action

With your vision in focus, it’s time to take action! Break your goals down into manageable steps and create a plan. Whether it’s joining a club, enrolling in a class, or traveling, taking these steps will bring your retirement vision to life. For volunteering opportunities, websites like Volunteering SA/NT offer up-to-date information on ways to get involved.

Remember, your retirement vision is a journey—it may evolve as you go. Embrace the process, enjoy the freedom, and dive into the endless possibilities that retirement has to offer. Grab your pen, find a quiet spot, and start creating your retirement vision, your "Monday" in retirement awaits!