The Day After Retirement

Sr. Financial Advisor Neal Nolan ponders what the first day of retirement might feel like and offers advice to those making the leap.

It is my belief that people are wired to work. It has been my experience that for some, work is a four-letter word, yet others find real fulfillment in doing what they love. Most work until they are in their 60s; somewhere along the way, they figure out that they won’t work forever. This is usually the point where they seek advice about planning for their retirement. After years of working and saving, they will one day tell their employer that they are ready to call it quits. But what comes next?

Being financially prepared for retirement is one aspect of being ready for retirement. However, there is another side that isn’t talked about very much: filling the void after retirement. When asked what they will do first after retirement, most give a quick answer, such as sleeping in, taking a vacation or finding a hobby. However, after a lifetime of work, it may be difficult to let go of it. Our life has become accustomed to work, and that isn’t something that is just switched off. Often, a person may look to fill this void by keeping themselves busy by volunteering or starting a new part-time career.

Recently, a friend of mine whom I’ve come to respect decided to retire. It made me start thinking about what it would be like the day after retirement. I can’t help but think at some level there would be something missing: a void. Perhaps this is why some people keep themselves busier in retirement than during their working years. Or maybe it’s to stave off boredom.

If I had any advice to give, it would be to enjoy the newfound freedom and do everything you can to make memories. That is to say, when you retire, don’t take up hobbies and activities to fill the void. That would be living a life of going through the motions. Rather, invest yourself in these activities and get involved in the lives of the people around you. It’s at that point when memories can be shared — memories worth keeping. As for my friend, I wish him well and the very best for him and his family for many memories to come.

Neal Nolan, CFP®, CPFA, AIF®
Senior Financial Advisor, Director of Business Retirement Services

Share:

Recent Posts:

10 Ways to Celebrate Independence Day

I proudly served in the U.S. Army from 1991 to 1992 as a medic. My time serving makes me appreciate being a U.S. citizen. This holiday, I hope you do something enjoyable with family and friends. Here are ten ideas — I will likely do a mixture of them all!

Recent Quarterly Newsletters:

Thrive by Learning and Growing Edition

Read our Q2 2022 newsletter on how to thrive by learning and growing. CEO Rick Manske reflects on graduation season and what this time of achievement and change means for students and loved ones. CIO Bill Hansen writes about education savings; President Harli Palme writes about tax savings related to college expenses; Portfolio Manager Nancy Blackman cautions about hidden costs of college. Advisor Charles Thompson outlines why it’s important that we value and prioritize travel. Advisors Judd Meinhart and Hilary Daniel write about job transitions and what to do with your 401(k) and new benefits. Advisor Neal Nolan ends with 10 ways to celebrate Independence Day and we highlight announcements across our firm. We hope you enjoy this edition!

Thrive by Planning for the Unknown Edition

Our Q1 newsletter focuses on planning for the unknown. CEO Rick Manske begins with outlining the importance of implementing financial family fire drills. Sr. Financial Advisor Travis Boyer writes about handling risk and Director of Investment Management Sarah DerGarabedian discusses mindful investing and how according to Seinfeld, “Anything’s possible!” Financial Advisor Scott Kittrell outlines how to manage the increasing cost of health care, and Sr. Financial Advisor Michael Baughman covers how to determine if you need health insurance. Manager of Financial Planning Judson Meinhart provides helpful tables to fill out to determine if you have adequate property and casualty insurance. Co-Director of Tax Services Larry Harris writes about tax planning unknowns. We hope you find this edition insightful!

Recent Whitepapers:

Stay Up To Date With Parsec

Sign up to join our mailing list and receive quarterly newsletters, whitepapers, news, and more right in your inbox.