I recently met with clients who challenged the traditional narrative of retirement. The meeting, which began with focusing on managing their U.S. investment portfolio, evolved into a profound discussion about personal fulfillment post-retirement. The couple, approaching “retirement age,” chose not to “wind down,” but to rediscover themselves. The husband, a psychologist, was preparing for a conventional retirement when an unforeseen call to aid in time of war presented him with a renewed sense of purpose and involvement.
Meanwhile, his wife embraced a significant post-retirement role: she redoubled her efforts in her central position in her family’s life, providing invaluable support, wisdom, and care. Her role underscores the significant, yet often underappreciated, impact of nurturing and sustaining family bonds.
A Contrast in Perceptions: Redefining Retirement Together
While the husband initially viewed retirement as the end of his professional identity, the recent events led him to a revelation about his ongoing value to society. In contrast, she had always seen her family-centric role as vital and purposeful, a mindset that brought both balance and insight into their shared journey. Their story is a powerful illustration of how differing perceptions of retirement could co-exist.
The Role of Financial Planning
As their financial planner, my role extended beyond determining investment strategies. It involved guiding them to realize they could pursue their newfound goals with confidence that they wouldn’t outlive their money. This revelation – that they had sufficient means to support their aspirations which included volunteering, travel, charity, and helping their children – was a turning point, offering them the freedom to redefine their retirement.
(What were the investment strategies that worked for this couple? Email me before March 18, 2024 (doug@profile-financial.com) for an invitation to a webinar that shares strategies for financial success in retirement.)
A Call to Evaluate Priorities Post-Retirement
Can you imagine yourself in this couple’s shoes, rethinking what a successful retirement means? As you consider retirement, think about what brings you joy and fulfillment. Beyond the financial aspects, contemplate how you can continue to grow, contribute, and find meaning in this next chapter of life. I’m happy to join the discussion! Call the office at 02-624-2788.
Douglas Goldstein, CFP®, GFP®, is the director of Profile Investment Services, Ltd. www.Profile-Financial.com He is a licensed financial professional both in the U.S. and Israel. Call (02) 624-2788 for a consultation on how to set up your American assets to meet your financial goals. Securities offered through Portfolio Resources Group, Inc. Member FINRA, SIPC, MSRB, FSI. The opinions expressed are those of the author and not those of Portfolio Resources Group, Inc. or its affiliates. Neither PRG nor its affiliates give tax or legal advice.
Published March 6, 2024.