Dealing with Retirement

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If you are working, self-employed or have a business, like death and taxes, one thing is certain: You are going to retire someday.

When talking to a Financial Planner or Advisor, they can help you prepare for it but usually, the focus is on monetary concerns like how prepared are you financially when retirement sets in.

Retirement, for one, is not just about money, but what kind of lifestyle are you envisioning for yourself when your “prime days” are over?

In my years as a Financial Advisor, I realized that there are things that you need to pay attention to (in my opinion), beyond the financial aspect. Of course, you don’t stop spending when you retire but that is not the point that I’m making here. Allow me to briefly describe each:

1. Spiritual

As you retire, you realize that you are now in the last chapter of your life. As a Bible-believing Christian, I believe that it is of utmost importance to deal with your Creator at this stage, if you haven’t yet, to claim your place in heaven by being right with God. Find a church that will help you grow spiritually and I guarantee you that if you found one, you will meet a group of happy retirees serving the Lord (A real Christian church always have a place for retirees).

2. Estate

If you have acquired some assets, the retirement stage is your last chance to plan how you intend to divest of your assets to your heirs. Prepare a Last Will and Testament so your heirs would not be at a loss in the event of your untimely demise. Leaving a legacy in order is one of the best gifts you can give to your family. Get guidance from a Financial Advisor, Lawyer and an Accountant for your Estate Planning.

3. Health

Your ideal retirement scenario would be in vain if your health needs the most attention, time and resources, when you retire. In other words, if you are not healthy or if you are under maintenance due to a lingering illness, you won’t be able to enjoy much of your “retired life”. Next to spiritual matters, you should have taken care of your health years before your retirement age. How? By proper diet and exercise. Also, it is important to talk to a Financial Advisor to prepare for health emergencies. That way, whatever you have saved up in your lifetime will not be drained from paying your medical bills.

4. Relationships

Retirement is a good opportunity to catch up with family, friends and colleagues. It is also the best time to mend broken relationships, if any, or at least forgive people who have wronged you in the past. Bitterness has no place at this stage in your life. Do not hold grudge against anyone. Enjoy the relationships you cherish. Reconnect and bond. Continue to build good memories. It is good for your soul.

5. Finding Something Worthwhile to do or having a Vocation

It has been said that when you stop growing, you start dying. When you retire, you would have to replace the habits that you have been accustomed to for many years. You’ve been working for so many years and when retirement hits you, there is a tremendous amount of adjustments that you have to make in your life. Maximize your time. Be a volunteer in your church for example. Or volunteer in your local Barangay (council) to serve the people in your locality. Travelling locally or global is also a good way to enjoy your retirement years. It’s even therapeutic. If you need extra income, get into sales. I tell you, in selling, there is no retirement age. If you have a good network, I suggest that you join AXA Philippines. Many retirees have found their calling here because they are paid well and even get the chance to travel. If you’re interested, send me a private message so I can tell you how.

The most important thing to do when you retire is keep busy. Otherwise, you will grow old faster.


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