Have you ever wondered what life would be like once you leave the rigors of your 9-to-5 world behind? Many who transition into this next phase do so without much of a plan beyond their financial considerations. Yet, when you consider these could be your most satisfying years, isn’t it worth imagining the possibilities?
When starting out, the plan seemed so clear: You go to school, get a job, build a career, perhaps get married, raise a family, and then, one day, you retire. Suddenly, life becomes a lot less predictable. Sure, you’ve worked hard to get here, but now what? On the face of it, the track narrows with seemingly limited options. Or has it? You’ve arrived in an amazing place. You now have the freedom of time. Doesn’t it make sense to design a future that excites you, one that aligns with your personal interests, passions, and lifestyle?
A few years ago, I found myself in an interesting place. I had recently been given the gift of early retirement, but the current definition of retirement just didn’t fit me. I was searching to make meaning out of this next chapter of my life. Retirement can often conjure up images of the “3 Gs:” golf, gardening, and grandkids, which all are great. But I found myself thinking that there must be more. I was a successful executive and couldn’t imagine going from 60 mph to 0.
I shared my thinking with a friend and former colleague who was also trying to manage her transition to retirement. We got curious about how people approach this transition in their lives. We set out on a path to create a roadmap to help us manage this transition for ourselves and others. In Design Thinking terms, we decided to fall in love with the problem. We interviewed over 50 pre and post-retirees across a broad spectrum of experiences (more on our research below).
Here are the five things that energized and engaged people do to live their best lives in retirement.
1. Shift Your Mindset
Retirement is not a time to retreat. In fact, it’s the perfect time to reinvent. We’ve learned that to transform into this next chapter, you need to shift from a Fixed Mindset to a Growth Mindset, focusing on possibilities versus limitations.
People with a Fixed Mindset are set in their ways and believe that qualities are inborn, fixed, and unchangeable. They think they are too old to learn.
Those with a Growth Mindset continue to pursue learning; they believe they can further develop their knowledge, skills, and talents. In short, those who cultivate a Growth Mindset continue to get better at whatever they do. They believe that it is never too late to learn.
What we found in our research is, many of the people we interviewed continued to actively learn by doing. Many started their own businesses or volunteer. They approached life with a beginner’s mindset, eager to learn and explore.
2. Connect To Your Passions And Purpose
People can often pass judgment on what older people can or should do. They also may have a narrow view of how you should spend your time in retirement. People who successfully transition to retirement do not listen to these voices. They listen to their inner voice, following their heart and connecting to their purpose.
Purpose in retirement isn’t just a nice-to-have — it is essential to your health, healing, happiness, and longevity. Purpose gives people a reason to get up in the morning and be excited about the day ahead. Your purpose is realized by exploring your gifts and passions.
We all need a purpose; without it, we don’t live as long and aren’t as healthy, happy, or productive. It is a part of our DNA, who we are as human beings, and fundamental for all. Purpose gives you clarity of mindset and what you want your life to be; it helps you set the direction for action.
3. Engage In Your Community
Many people think fame and money keep you happy as you go through life, but the truth is that people who are more socially connected are happier, physically healthier, and live longer lives than people who are less well connected.
Sparking new friendships in retirement is crucial for long-term happiness and fulfillment. In times of change, one factor that remains imperative for success is a support system of meaningful relationships.
Some ways to maintain social connections in retirement include expanding your social network before retirement, cultivating relationships with your extended family (spouse, children, grandchildren, et cetera), and volunteering or joining a new group.
People we interviewed were more active across a multi-dimensional network broader than their work community, and they started this before they officially left the workforce.
4. Manage Your Energy
We define energy as being made up of four dimensions: physical, emotional, intellectual, and spiritual. You can increase your overall health by establishing routines to help you activate your body, engage your heart, focus your mind, and center your spirit.
When you were working and raising a family, your life had structure and routine. Then suddenly, seemingly without warning, your rhythm and schedule alter drastically.
When you retire, you must be proactive in what you want to achieve. It’s good to establish routines and maintain some regular activity. It doesn’t mean you need to do an intense spin class; taking a daily walk is just as good. The key is to keep moving and manage your energy across all dimensions.
We found in our research that these individuals focused on creating daily routines that contributed to their overall health.
5. Be Realistic About Your Finances
Being clear on how you want to spend your time helps you more realistically identify the role that money will play in helping you achieve your plans. Armed with a realistic vision of how you are going to spend your time allows you to be more confident in your finances.
People in our research group shifted from financial planning to financial confidence. They swapped the focus from money first to money in service of the vision of their life in this next chapter.
By applying these five crucial lessons, you can start to clarify your vision for this next chapter of your life and be fully engaged in designing a retirement that excites you.
More On Our Research
We analyzed hundreds of pages of insights, and we found people planning for and living in retirement, fell into one of 3 categories: Overwhelmed and Stuck, Cautiously Optimistic, and Excited and Engaged.
On one end of the spectrum, people were Overwhelmed and Stuck ‚ many of these people were already retired and can be characterized as feeling somewhat paralyzed. In our discussions with them, we heard
- That their uncertainty held them back from exploring new things
- How anxious they were about their finances
- How uncertain they were of how they would spend their days
In the center of the spectrum, people were Cautiously Optimistic — these people can be characterized as procrastinators. They seemed to be constantly aiming but fearful of pulling the trigger. We heard
- How confident they were in their financial planning
- How successful and driven they were in their careers
- How afraid they still were of losing the identities tied to their career success
On the other end of the spectrum, people were Excited and Engaged. These people appeared vital and ageless. We were struck by
- How actively they pursued their interests and passions
- How holistically they viewed their skills, experiences, and capabilities
- How naturally curious and eager they were to learn new things
- How networked and connected they were to a variety of communities
These people were living their best lives in retirement. We nicknamed them the Excited and Engaged group because that’s how they approached their lives. What was unique about them was they didn’t follow any preconceived notions of retirement but instead designed their own personal vision for this next chapter of their lives.
The crucial lessons we learned that differentiated these folks from others were the impetus for creating The Future of You, a digital program that’s the ideal platform for planning your life in retirement. It’s a curated roadmap and interactive experience that invites you to design your next chapter independently and at your own pace. The program is a journey of self-discovery that will help you imagine new possibilities, explore exciting pursuits, and transform your life.
For more advice and inspiration, browse all our retirement content here.
