The other day I was reminded of something I tell clients all the time: in retirement, your time is more important than your money. I realize I’m a Financial Planner, and I don’t mean to downplay the importance of having your financial house in order. However, I have seen many people who didn’t think they had enough money figure out how to live within a different budget than they planned and have a perfectly happy life.
When you retire, you will have 40 or more hours in your week where you won’t be at work. You won’t have a commute, and you don’t have to get out of bed for anything. That could be a dream… It could also be a nightmare. If you defined yourself by your job and had no other interests outside of work, not having a place to be can feel as much like a prison as working every day in a job you hate. Therefore, it’s important to find a hobby or a cause you care about.
This week I was fortunate enough to be invited to Habitat for Humanity’s CEO build. There were executives from businesses all over Denver on the construction site to support those in need. I had worked with Habitat in Atlanta a few times when I was in college, but I’ve never done a build like this. I haven’t swung a framing hammer in years, and it showed! Executives out of their element are always fun to watch, myself included.
Steve, the gentleman assisting our team in framing the second-story walls, was a retired Accountant. I could tell he loves the cause and the hobby! He volunteers with Habitat one day a week to build with his hands and give back to his community. Steve is someone who I would call a successful retiree. He found a way to engage his skills and passions to fill his time in retirement.
Seriously though, take the time to plan your time in retirement. Not having somewhere to be or something to utilize your skills and wisdom would be a waste of the value you bring to the world. Don’t be the person who is a retirement failure. Don’t get bored and have to go back to work six months later because you didn’t think through what you’re going to do with all the time on your hands.
I’d also like to mention with every purchase of one of my books – Fit Financial Approach – Morgan James Publishing donates a portion of proceeds to Habitat for Humanity. Morgan James has supported the cause for years, and I am happy that my passion project can support theirs!
Find a hobby; find a cause; fill your time.