An Invitation:

Reimagine Retirement

Notes

Words matter. They can shape our expectations and choices. What is your word for this

time when routines, patterns and paychecks change? When you get friendly with the idea

of adapting to whatever comes your way, you become confident that you are capable of

continued reinvention at any point.

RetirementStop working

Be pensioned off

Step down

Go away

Rewording RetirementRewire

Re-create

Reset

Revisit

Retune

Revise

Rethink

Reinvigorate

Reframe

Reorganize

Reinvent

Notes

Retirement: The Old ViewI will no longer earn a paycheck.

I’m relieved to step out of the daily grind.

I will completely stop working and use my financial resources to provide for my living expenses.

Retirement: The New ViewI will find my vision for the rest of my life.

I’m looking forward with enthusiasm.

My vision could include continued work, leisure time, learning, or any activities that are meaningful to me.

This isn’t an ending; it’s a transition to the next thing.

This conversation is the active exploration and mapping of

various scenarios and possibilities, where your personal

desires meet your financial realities. It’s OK if you don’t have

all the answers, and it’s OK to change your mind.

• Give yourself room to back up and turn around.

• Bring back the vigor and passion.

• Get in better mental and physical shape.

• Stop worrying and get excited.

• Find new people to hang around with.

• Spend time making a difference.

• Have more fun!

Notes

For a moment, look at life as a journey upon a winding river.

The water flows with the direction of our natural inclination to

move forward, but it meets obstacles along the way. What we

encounter as resistance actually creates opportunities to find

the best workaround, so we can continue making progress.

Notes

Now, if you think of retirement as the point where the river begins to widen and branch off,

you’ll see so many possible destinations. Some of them are lovely, and some are to be avoided:

• The wide-open ocean, where you really need a sound navigation plan.

• A quiet cove, where you can live a contemplative life.

• A tropical resort, where every day brings new games and parties.

• An island, where you can gather those closest to you.

• A riverside village, where you become part of the community.

• A murky pond, where you become trapped in the stagnant waters.

• A raging waterfall, where you lose all control.

Notes

As you approach the decision-

making stages in anticipation of

retirement, it’s wise to pull your

boat into a safe port to

consider the options. Ask

yourself where you really

want to go.

This is when you need your

river guide, someone who

helps you navigate, who

knows the water and knows

what’s ahead, who is in your

boat to make the journey safer

and more enjoyable for you. You

chart your course together.

Notes

This exercise is designed to allow a trained Financial Transition Planning

professional to help you imagine and map out the route to your next chapter

of life. Transitions are not permanent. Transition is the time between the way

life used to be and the way it will be in the future.

The purpose of this conversation is to figure out what kind of retirement

experience you wish to have and where money fits into the retirement

experience you’ve imagined.

Community: The social element of retirement, which includes meeting new

people, taking a class, and getting out into the world. If your job got you out of

the house, you may not have had to think much about community. Now that

you’re retired, you may have to.

Control: Being the boss of your income, your health, and your schedule. When

you’re in a space of autonomy, you make decisions for the right reasons and

you’re equally free to make changes and adjustments when necessary.

Contribution: It’s crucial to have a purpose, and to be part of something bigger

than yourself. Volunteering your time or expertise actually raises your happiness

set point. Those who are most satisfied in retirement are those who have found

ways to give back.

The Three C’s

Think of Flow as a sustained feeling of connection and vitality. If

this is your idea of a desirable experience in the upcoming

chapter of your life, then make it happen by intentionally

adding activities and commitments that have four

components:

1. Routine. The pursuit is regularly scheduled, but

not necessarily daily or weekly.

2. Social. The activity involved interaction with

other people – some just like you, and some very

different.

3. Challenging. The endeavor helps you learn

someone new or meet a goal, whether your own or

an organization’s.

4. Measurable. There is some way to measure progress,

achievement, or success.

Psychologists tell us that pursuing activities with these four

components produces a feeling of well-being and energy.

The Three C’s in Action: Seeking Flow in Retirement

Notes

#1: What does retirement mean to you?

#2: If you had unlimited resources, what would you do?

#3-6: If you found out you had to retire in one month, how would you feel about that? What would you be excited

about? What would you miss? What would worry you?

Questions for Retirement Planning

Are You Ready to Retire?How do you define ready? Retirement readiness is more than having enough money, though that’s part of it. On

the next few pages, you’ll find several categories of retirement readiness questions you can begin to ask:

Notes

Are you looking forward to retirement?

Are you planning to work after retirement?

Have you shared your decision to retire? If so, with whom?

Is your spouse/partner retiring with you?

Have you examined needs that are currently filled by your job (productivity, structure, purpose) and planned how to meet those needs during retirement?

Is anyone financially dependent upon you (parents, adult children, grandchildren)? Have you discussed how/whether that might need to change if you retire?

Have you explored how your retirement will affect your relationship with your spouse/partner?

Personal/Relationships:

Do you have a clear idea of your income streams?

Do you have a solid understanding of your expense needs once you retire?

Have you discussed maximizing your Social Security benefits, including the best time to begin taking benefits?

Have you confirmed other retirement and pension benefits?

Financial:

Notes

Have you thought about your housing needs now and in the future?

Have you considered where you might like to live in retirement?

Have you explored interesting alternatives to your current living arrangements?

If you are staying in your current home, is it equipped to “age well” with you?

What are the public transportation options, in the event you no longer drive?

Housing:

How would you describe your current level of activity and your overall wellness?

What level of energy will you need to pursue your interests in retirement?

Do you want/hope/need to make any changes to your personal habits, to become healthier in retirement?

Do you know when and how to sign up for Medicare, and have you explored supplemental insurance options?

Physical Energy/ Health

Have you considered the amount of additional time you’ll have, and how you want to use it?

Have you explored new activities and hobbies, and started experimenting with some?

Have you developed a daily/weekly activity plan?

Have you identified meaningful activities that will give you a reason to get up every day?

Daily Life:

Notes

The “How Much?” Questions

How much house can I afford?

How much do I need to save?

How much can I spend?

How much income can we count on from investments?

How much can I give away?

How much insurance do I need?

How much will I need for my children’s/grandchildren’s education?

How much money will I have at a specific age?

Stress-Testing Your Scenarios

The “What If?” Questions

What if I change careers and earn less money?

What if I take some of my retirement money to invest in my professional development?

What if I retire soon and start working part time?

How long will my money last?

What if the stock market goes down?

What if I don’t get the lump sum from inheritance/sale of a business?

What if I get sick?

Notes

The Value of the River GuideYou’re smart. Why hire a guide to help you navigate this part of your life?

The guide knows the river and knows what’s around the next corner. The guide also

understands when it’s best to get out of the boat and survey the situation, so you’re not forced

to make decisions when you’re flying down the rapids or plunging over a waterfall.

A wise guide understands that everyone navigates the river in their own way. Your guide –

your Financial Transition Planning professional – is here to help you find your way.