I’ve always been an advocate of “practicing retirement” if at all possible. Before you tell the boss this is your last paycheck or selling the business you might consider taking time to practice retirement.
Take some extended time from work and spend most of it at home. If you’re married, are the two of you happy spending that much time together? If you live alone are you happy with your days without work? You might not realize it but this can be one of the biggest hang-ups to a successful 2nd Half.
Create a plan (with your spouse if you’re married) of what you would like to do through your 2nd Half. When you’re clear on your plans share it with close family and close friends and get some input. Others who you trust may have valuable insight for you.
If you’re plan includes volunteering spend as much time as possible in a volunteer role to make sure you enjoy it.
If you’re plan includes a move take some more extended time from work and stay in the new area. Make sure before you go to the trouble and expense of moving that you’ll be happy in your new community.
Is your plan affordable and sustainable? Work out your projected cash flow and understand where you’re income will come from. Even if you know you have sufficient funds you probably have multiple investment and retirement accounts and Social Security. You should have a clear strategy for which account to tap and when.
This article covers a handful of areas you may not be thinking about as well.
And when we can help on any 2nd Half plans just let us know.