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How You Can Make Your Retirement Better

January 31, 2024

How You Can Make Your Retirement Better


Our staff recently read and discussed “Retirement:  Stepping Stones” by Tony Hixon. The author urged all financial advisors to help their clients plan for retirement well in advance of their actual retirement date. We all discovered ways to better serve our clients through Mr. Hixon’s ideas.

Retirement is a lifestyle change often romanticized, which can lead to a rude awakening for many retirees.

We hope that your current or future retirement can be improved through some of these ten “stepping stones” offered in the book:

  1. Take time to explore your purpose and your values heading into retirement. Knowing how you want to live your life according to what matters most can help you plan for a fulfilling next chapter.


  1. Don’t be afraid to dream big! Reviewing your ideas for what retirement could be can help you clarify exactly what kind of lifestyle you want – even if you have to reduce your goals because of financial restrictions.



  1. Plan for your daily life. Bucket-list items are lovely, and you’ve earned the opportunity to pursue them. However, having a general idea of how you’d like to spend a random Tuesday morning can help you take charge of your day so you won’t wind up bored, unfulfilled, or depressed.


  1. Focus on building your social circle before or immediately after retiring. Connect with family and friends, and even consider developing friendships with other retirees who share your interests.


  1. Building toward significant lifestyle changes slowly can help you adjust to anything new (a big move, downsizing your home, etc.) before making the transition to retirement. It can also help highlight whether specific retirement dreams fit your unique personality and needs. Consider downsizing in advance of retirement, test-driving relocation, and incorporating elements of a lifestyle change into your daily life before leaving your job.


  1. Create a retirement budget with the goal of your wealth outliving you. You may need to cut back on some unnecessary expenses, but this lifestyle adjustment while you are working just may be what makes your retirement so wonderful.


  1. Take the time to gain a deeper understanding of how you will create your income in retirement. If you haven’t done so, you should call us about putting together a plan to show you how you will be able to enjoy a rising income stream during retirement.


  1. Analyze how you will receive health care when you retire. We are here to help you think through this important but not urgent issue if you are under sixty-five.


  1. Think through a backup plan if things turn out differently than you imagined. What will you do if you don’t enjoy being retired? What if you find that you have so much more time to fill than you have activities to enjoy?


  1. Imagine the type of legacy you want to leave. Many people think of legacy as something that magically happens after they pass away. That couldn’t be further from the truth! It would be best if you started building your legacy in life through your actions and words. How do you want people to remember you, and do you have specific things you hope your heirs will use their inheritance for? If so, make those things known to your heirs.

We hope you found Mr. Hixon’s advice as helpful and thought-provoking as we did. Please reach out to us if you would like a complimentary copy of “Retirement: Stepping Stones” shipped to your home.

As always, we look forward to continuing our relationship and supporting your journey through a multi-decade retirement filled with dignity, security, and independence.