Take a minute to dwell on this question: what’s your purpose in retirement?
We’re not talking about sitting back, relaxing, or even participating in the age-old stereotype of golfing every day. Although there’s clearly nothing wrong with relaxing, we’re talking about something much more than perching your feet up on your coffee table and watching hummingbirds swarm around your newest feeder.
We’re talking about the things that will give your life purpose and meaning in your future. For some, this may be donating their time and money towards cleaning local parks or harvesting crops to give to local shelters. For others, this could be finally being able to build that dream cabin at their favorite camping spot or visiting countries that have been on their bucket list for years.
This is your “why” for retirement. It’s not just about putting money away so you are financially secure in your future (although this is definitely important). It’s about using money as a tool to support your future goals and dreams.
But why does knowing your future purpose matter now?
Because when you know your “why” for retirement, it makes planning so much easier — and yes, even exciting! Often, putting 10% of your money towards retirement or reviewing investment strategies can be monotonous and even boring. But when you save, knowing that every amount is going towards your future dreams, it takes retirement planning from mundane to impactful.
Take a minute to figure out your “why” for retirement. What are your deepest values, dreams, and aspirations in life?
Feeling stuck? That’s ok. Here are some steps you can take to discover your future purpose.
1. Get to know yourself
Often, we get so caught up in the busyness of life that we forget who we are. What are your values, beliefs, and goals? What are you truly passionate about? Where do you want to spend your time and resources?
Understandably, as the years go by, some of these may change. But getting to know yourself, even now, will help create a path for your future self.
Start by answering these questions:
- What are my values and beliefs? What do I stand for?
- What ministries or nonprofits do I like to support?
- Do I have a heart to serve certain groups (such as the homeless, animal shelters, or environmental cleanup)?
- What things are most important to me?
2. Tap into your unique gifts
Each of us is uniquely created with special talents and strengths. When you know what those gifts are, you can channel them towards something fulfilling in retirement.
For many of us, finding our unique gifts seems hard. But did you know that your gift is probably just a strength that comes naturally to you?
Do you love to be hospitable by inviting your friends and neighbors over for a home-cooked meal? Maybe you have a knack for organization. In both cases, these are gifts and can be used for the greater good. How could you take the simple task of organizing and turn it into something greater in retirement? Maybe it’s helping young mothers create order out of chaos. Or maybe it’s helping the local thrift shop organize years of scattered papers and files.
Still unsure about your gifts? Ask a friend or family member. Often, they recognize your gifts far quicker than you do.
3. Discover your passions
Did you know that most people have no idea what their true passions are in life? Most of us become tied down to the monotony of work, paying bills, and raising children that we forget to find those things in life that really spark joy.
When you discover what makes your heart sing, you can create retirement dreams that you’re excited about. If you’re not sure how to discover your passions, start with these steps:
- Step out of your comfort zone and try different things that you may find interesting.
- Expand your social circle. Often, we meet people that may have the same passions we’re looking for.
- Spend time alone. Work on being introspective in those quiet, peaceful times.
- Think about what made you happy in childhood. Was it going on regular backpacking trips with your dad? You may be surprised to discover how much you still love those activities.
4. Plan to help others
Research shows that people are born with an innate desire to help. We were also designed for connection. One of the best ways to create a fulfilling retirement is to dream up opportunities where you can help. This may be a local food pantry, a tutoring program, or reading to kids at your local library. No matter what it is, planning to give of your time will give your retirement more meaning.
5. Pray
And last, but definitely not least, pray.
God tells us to bring our concerns or worries to him. Part of preparing for retirement is spending time asking God for direction in those future years.
Proverbs 3:6 says, “Seek his will in all you do, and he will show you which path to take.”
As you pray, listen for God’s direction. Each of us will experience something different, but this may show up in a sense of affirmation, in a moment of clarity, in a strong desire for one direction, or simply a deep inner peace. God also speaks through other people so go to those who you trust most with advice.
Next Steps
There’s no greater feeling than to be truly excited about saving for retirement as you work to reach the goals you’ve set for yourself.
If you have retirement planning questions, give us a call. At TruthPoint Financial, we help people financially prepare for their futures. But more than that, we are truly passionate about helping people get to the root of retirement — knowing their “why.”