Life Transition, Retirement Planning
November 24, 2019

The Meaning of Retirement

When you think of “Retirement” what words come to mind? By Freedman Financial

That’s a question we posed to our clients a couple years ago when we moved to our new office location. Our goal was to build a word cloud. You know, that computer generated design that makes certain words larger than others based on the number of times they’ve been mentioned.

Our “Retirement” word cloud has become a centerpiece at the office. It’s an immediate conversation starter, and a reflection of our clients hopes, dreams, and yes, even worries.

Of course, words like TRAVEL, GRANDKIDS, FAMILY, FREEDOM and VOLUNTEERING appear atop of most retiree’s vernacular; others like FRANTIC, NAMASTE, REWIRE, EXCITING speak to the true feelings our clients were willing to share.
Retirement is a journey unlike any other you’ve experienced before.

You see the first stage of your life (Birth – 22years old) is relatively scheduled for you. You learn a language, get an education, embrace childhood, and learn to respect you parents.

From age 23-45 you’ll likely find employment, buy a home, get married and even have some children.

From 46-68 years old you’re likely in the prime earning years of your life; and also, the most expensive. Between college tuition, saving for retirement, assuming management responsibilities at work, and juggling a household filled with teenage hormones, you can’t seem to find much time for yourself.

And then comes the retirement years. Finally. A moment to slow down, enjoy time for yourself, reconnect with your partner, and begin to “do all the things you’ve been wanting to do.” Words like travel, volunteering, grandkids and freedom come to mind.

Yet, unlike the previous sets of 8000-day segments in your life, this blueprint is a little more difficult to navigate. Unlike your parents who slowed down, went on couple vacations, took up golf, settled in a condo community in Florida and looked forward to early bird specials; you’re feeling a little different. You’re more active. You’re healthier. You’re not even ready to stop working completely. Perhaps there’s a consulting opportunity, a part-time job, or even the chance to volunteer in a bigger way.

Meaning of retirement: You’ve got enough; you’re scared to spend it.

You feel a need to help the kids; though they’re earning more money than you ever did. You worry about health care costs, climbing the stairs in the house, and society’s demand to embrace technology. You seek out life-long learning groups and you look forward to meeting new people. But so too do you realize that in retirement you’ll be spending 16 hours vs. 6 hours a day with your partner. It’s a whole new experience.

Later in your retirement years, you’ll begin to experience more aches and chronic conditions, but medical science will help you restore, rewire and reinvigorate yourself again. You’ll gain confidence in technology and find yourself using apps on your phone as successfully as your 10-year-old grandson.

Perhaps you’ve already begun using Uber, and Waze. You’re checking your investment portfolio, the weather, and you’re Facetiming with friends. You’re leveraging food delivery services, Amazon Prime, watching Netflix and creating your own bit-mojis.

You’ve become a retired superstar. A far different image than the retired lifestyle that was connected to generations before you.

You’re now setting the standard. You’re showing the world that retirement isn’t a gold watch, a cruise, and rocking chair on the fund porch. Retirement is “You 2.0”

At Freedman Financial our clients are constant reminders of all that is great about retirement. They share their successes, challenges, their dreams and their stories. They’re honest and expressive and providing caring advice to help guide them along their journey is our favorite part of the day.

Our Retirement word cloud reflects them. It’s a snapshot of the life you can achieve. We’d be honored to help you imagine your blueprint for retirement; and will provide you with financial advice in a language you can understand®.

Because at Freedman Financial we care…deeply.

Tracking #TRK 1-920259

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