Understand what you really want when you retire

I realize that most of my posts are financially-oriented, with many words expended talking about rates of return, cash flows, asset allocation, risk, etc., but reading the following blog post from The Power of Thrift blog reminds me that money is simply a tool that provides options. The more money, the more options, and that is usually a good thing. However, many retirees become disillusioned with their newfound freedom, as they become unmoored from the relationships and structure that they had spent all of their working years complaining about.

"I feel compelled to tell you that retired life is not perfect. The longer I’m retired, the more isolated I feel. There’s something about having a job that just feels…safe. It’s how people know you exist. It’s not something I ever considered when I was working, but there’s something empowering about making money and working your assigned job that I miss more than I thought I would. You have a place in the system."

I believe that people are happier when they have a sense of purpose, something to live for. It's sad but not surprising that the male death rates experience a slight spike at the age of 62, which just happens to be the first year one can take social security benefits in the U.S. There is supposedly a similar spike in deaths among members of the military one year after the major retirement milestones (20 years of service is the earliest retirement milestone, and 30 years the latest).

So, while you are busy crunching numbers and making sure you have enough money to live and travel and be "free," make sure that you put an equal if not greater amount of time and thought into finding a "purpose." You don't have to save the world or run for President - it's completely up to you. It could be part-time work in a field that interests you, volunteering, political activism, or learning a new skill. Just drifting aimlessly through the final years of life is no way to go, so take advantage of your freedom to do something which gets you out of bed in the morning!