• Reflecting on Experience: Retirement provides the time and space to reflect on a lifetime of experiences. This reflection allows us to recognize patterns, understand the consequences of our actions, and learn valuable lessons from past experiences. This is where knowledge transforms into wisdom.
• Prioritizing Meaning Over Achievement: The pursuit of professional achievement often overshadowed the search for personal meaning. Retirement offers the opportunity to reassess our values and priorities. Wisdom guides us to focus on what truly matters, whether it’s spending time with loved ones, pursuing personal passions, or contributing to our communities.
• Navigating Uncertainty with Grace and Resilience: Retirement can bring uncertainty. Health challenges, changing social dynamics, and the loss of a familiar routine, as in my case, can create anxiety. Wisdom helps us navigate these uncertainties with grace and resilience. It allows us to accept what we cannot control and focus on what we can.
• Sharing Accumulated Wisdom: One of the most fulfilling aspects of retirement is the opportunity to share accumulated wisdom with others. Mentoring younger generations, volunteering, or simply offering a listening ear can be profoundly rewarding. This sharing of wisdom can create a legacy that extends beyond material possessions.
• Cultivating Inner Peace: The pressures of a career can often leave us feeling stressed and overwhelmed. Retirement provides the opportunity to cultivate inner peace through practices like meditation, mindfulness, or spending time outdoors. Wisdom allows us to find contentment and appreciate the simple joys of life.

• Actively seeking out new experiences and perspectives.
• Engaging in meaningful conversations with others.
• Practicing gratitude and appreciating the present moment.
• Embracing the challenges and opportunities that come with aging.

I just got back from taking two of our Grandsons to Basketball Camp.

Josh who runs the camp every Christmas break is not only a very good Basketball Coach but also a Great Motivator. Each day of the camp he presents the group with a lesson or message of the day.

Today’s lesson was having a goal. He began by asking the kids what they wanted to be when they grow up. The answers ranged from Horse Rider to Engineer. It surprised me not one wanted to be a Pro Basketball player.

Josh continued by asking how many went to sleep last night by nine o’clock. A few raised their hands. Again he asked how many went to sleep by ten o’clock. Most raised their hands. Again he asked how many went to sleep after eleven o’clock. The rest raised their hands looking tired and sleepy. After all, this was their Christmas Break and I would expect them to stay up late and sleep-in in the mornings.

He then began the lesson. To reach their goal when they grow up they must begin by developing and having good habits. He shared his goal was to be a pro basketball player. He would get up at 4:30 in the morning and go to the gym. Shoot hundreds of shots, lift weights, eat lunch, take a nap then back to the gym for more practice and a couple of hours of scrimmages. He was to bed early each night so he would be well rested for the next day. He did this everyday during his summer vacations. Not only did he become a very good College Basketball player  he did play some Professional Basketball before becoming a Coach and Teacher. It was the good habits he developed, learned and used each day that helped him reach his goal.

While sitting there listening to Josh talk to the kids I found myself thinking what good habits I wish I had developed at their age. It also got me thinking, I probably need to work on developing some new habits now that I’m retired.

“Retirement is almost like when I was a kid. Being a little bit scared but still excited by not fully knowing what the future will bring.”

I guess if Josh would have asked me what I want to be when I grow up I hope I would have said to have a healthy and productive retirement. To be the best I can be in my remaining years.

To meet this goal I will need to make sure I’m maintaining and developing good retirement habits and goals like:

• Getting plenty of sleep
• Exercising each morning and remaining active
• Trying to learn something new every day
• Working to maintain good social connections with family and friends
• Finding ways to pass on the lessons I’ve learned over the years to our Kids and Grandkids
• Limiting the Cookies and Ice Cream

It would be easy to develop bad habits in retirement. Almost like the kids that were staying up late and wanting to  sleep late in the morning instead of getting up and going to camp. In retirement it’s Christmas break everyday.

At the end of the lesson Josh returned to his question of what time did you go to bed last night. He told them to be the best at whatever they wanted to be would require them to be well rested before starting each day. He asked the group to raise their hands and commit to try to get to bed early and be ready and well rested for camp the rest of the week. I believe all agreed.

Even old grandad sitting in the stands raised his hand a little.
Like I said earlier, Josh is a Great Motivator.

I don’t know what I was thinking.  I either forgot or didn’t see the need last year to set goals for this past year. Heck, I was retired and could do what I wanted. What would be the point of going through the time and effort of goal setting?
Boy, was I wrong!

Now, I find myself questioning if I had set some good goals would the past year been any different? I have no doubt with a better retirement plan and good set of goals my transition from work to retirement would have been less stressful and more enjoyable. (I’m planning on discussing  ” What I Should Have Given More Thought Before Retiring”  in a future post)

If Goal setting was so important and beneficial in my working life why would I think I no longer needed to set some good Smart goals now that I’m retired.

For most of my sales career, the last couple of weeks in December, I along with our sales team would take time to reflect on the past year, review last years sales and personal goals and develop 3 to 5 good meaningful Smart goals for the upcoming year.  Goal setting didn’t stop there. We would review our goals quarterly and make any needed changes throughout the year. This process helped us define our purpose and direction for the year.

Annual planning in retirement my be one of the most important exercises you can do for yourself when retired.

If the thought of setting goals causes your blood pressure to rise or you have never been successful setting goals in the past let’s look at it another way. Maybe in retirement we should look at it as an annual plan. Just plan 3 to 5 things (goals) you need or would like to achieve over the next 12 months that would make a difference in your life. If things change during the year you can adjust your plan or modify your goals. As you get better at goal setting or planning you will find less changes are needed.

Keys to a Successful Retirement

Many think three keys to a successful retirement are Money, Health and Time.
I think these keys are a good place to start in the annual planning or goal setting process:

Money – review last year’s income and expenses, anticipate this year and future years needs and wants, then set a goal and make a plan to reach your goal. You probably already have your financial plan in place, so now is a good to to review it and make changes as needed. If you have an advisor you may have already had your annual meeting and have this plan in place. If not, do not skip this step as it’s most critical for a successful retirement.

Health – This may be the hardest of  the three keys to plan. You need to give an honest evaluation of your health. Over the past year what has changed? Are there any medical procedures needed for the next couple of years? What can you do to improve your health? Now’s the time to make the plan. If there is an surgery or procedure needed, plan when you want to have it. If you need to lose a little weight or want to start walking every day, set your goal, make a plan and get to it. I’m thinking if I can do good on this goal I may squeak out an extra year or two of healthy living.

Time – How much time do we have in retirement is the great unknown but what I do know is every year that passes is one less year I have to live. Time is why I think goal setting or annual planning is so important. If we have a limited amount of time why would we not plan to spend it as wisely as we can?  Maybe you have a bucket list of things to do in retirement. With good planning you may be able to empty the bucket before your time runs out. Without a good plan your bucket list may only be a bucket of dreams.

I’m leaving it to you to come up with 2 additional Smart Goals that will make a difference in your life.

You may already have daily, weekly or monthly plans. You may already have your goals and plans in place and do not need this nudge or encouragement to get started. The point of this is to use this time to think big. Reflect on the past year but plan on what you can do this next year to enrich your life in the future. I think a goal without a written plan to get there is just a wish. Write your goals down and share them with others who will help hold you accountable.

If this is your first attempt at annual goal setting and planning you will be surprised the benefits and what you can accomplish. If goal setting has always been an important part of your past there is no sense to stop now.

For a review on Setting Goals and Smart Goals check out a blog post I wrote A Goal Setting Refresher back in 2013.

Let’s get to work and get those goals set!