200 meter start line on a red track

Landscape view of a red track with white numbers that have blue trim at the two hundred meter start.

Have you retired, only to return to work because retirement wasn’t working for you? If so, you’re not alone. Last year, research by Savant Wealth Management and Absolute Engagement found that some retirees may be financially ready for retirement, but not personally ready. Others say they just can’t move on from working full-time, or that they don’t feel fulfilled in retirement.  

Over my career as a financial advisor, I’ve learned the importance of helping clients understand not just their financial picture, but the entire picture of what their lives could be like in retirement. If you haven’t yet solidified your vision for this phase of your life, these three tips can help you get started: 

Envision your future. While you are still working, take the opportunity to really envision what you would like your future to be. If you’re married or have a significant other, ask that person to do the same. Try to be as vivid as possible. Once you’ve completed this exercise, share your thoughts and discuss them with each other.  

Create a one-page personal plan. To achieve the vision you imagined, what things do you need to develop along the way? If you want to write a book, for example, what skills or research do you need to accomplish that task? Start with your goals and work backward – what will you need to do in 10 years, five years, one year, or each quarter to accomplish them? Encourage your spouse or partner to create a plan too, and review them together. 

Remember that money can also impact the lives of others. Money may help us achieve all that is important in our lives, but it can also be an important accelerant in improving other people’s lives and making an impact on the world. While it’s necessary to have a vision and develop plans to accomplish that vision, it can also be satisfying to use your resources, vision, plan, and financial well-being to impact the lives of others.  

Once you’ve thought through your plan, be sure to share it with your financial advisor and discuss any gaps or potential changes in your investment strategy. Experienced advisors have seen their share of retirement successes and failures and can help align your financial plan to best meet your goals. 

John Frisch, CPA/PFS, CFP®, AIF®, PPCTM, is a financial advisor and the managing director of Savant Wealth Management’s Manassas, VA office. 

Savant Wealth Management is a Registered Investment Adviser. You should not assume that any discussion or information provided serves as the receipt of, or as a substitute for, personalized investment advice from Savant. Please consult your investment and financial professional(s) regarding your unique situation. 

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