What does your retirement wealth portfolio look like? Funding your retirement may include CDs, Roth IRAs, a 401(k), a pension or savings account. Having your finances figured out prior to retirement is a must. It is like having oil in your car. You are not going to get very far without it. Personally, I find financial planning a yawn. It is a necessary evil. Thankfully, my husband loves to do it. Perfect. Then I can focus on the good stuff that makes retirement fun and satisfying. And I bet you thought this was going to be a worthwhile post about retirement finances. Nope. Retirement wealth is about living life fully, closer to the bone. I will leave the financial advice to those much more qualified than me. Yawn.
As we get older, we have less of a need to accumulate stuff. I feel like we spend the first half of our lives stockpiling stuff and the second half trying to get rid of it. We recently downsized and shed ourselves of many items that had accumulated over the years. Some of it was well used and worthwhile, but frankly, most of it was a waste of time and money. Why did we think that we needed a fondu pot? Same for the bread maker that we used twice. And don’t even get me started on the treadmill clothes hangers. (Yes, embarrassingly, we bought more than one over the course of our marriage. We are slow learners.) Now I want to spend my money on more valuable things. Things that give me a greater return for my investment.
Investing in real wealth
Real wealth in retirement is about having the time, relationships, and health, to enjoy and experience life. Investing in these three things is not always easy. And yes, some of it takes money. But like anything worthwhile, the investment is well worth the effort.
Time wealth. One aspect of wealth is having time enough. The beauty of retirement is that we have more free time. As a nurse I worked many holidays, weekends and nights. Now that I am retired, I have the ability to control my schedule without a boss telling me I cannot take a holiday off or take vacation days when I want. It is a wonderful sense of freedom to be able to drop everything and go when an invitation is extended or Mr. U comes up with a hair brain idea.
How we use our time takes energy. It is easy to sit on the couch and scroll mindlessly or watch another sitcom. Then everyday slogs into the next. It takes time and energy to plan an outing, secure dates, pack up (whether it is a picnic or a big trip), invite others and commit. The investment in using your time well creates a much more fun and exciting life. Don’t waste your time wealth.
Relationship wealth. Having meaningful relationships is one of the highest forms of wealth at any age. What fun is life if you don’t have people to share it with? Sadly, there are many lonely retirees out there. People that have lost spouses, are distanced or estranged from family, or have lost friends due to death, miles or even over petty annoyances. Let’s face it. Investing in relationships takes time, effort and a hefty dose of forgiveness. But what you invest into people will come back to you a hundred-fold.
Health wealth. It goes without saying that health is one of the most important things we can invest in, for ourselves and our family. Just ask anyone who has a health issue. We often ignore our bodies until they fail us. We have enough health issues that we can’t control, so why increase the chance for problems by not investing in our health.
However, like the previous two investments, health takes discipline and energy. It rarely happens without some effort. It takes effort to trek out in the cold to take a walk or tie on the tennis shoes and head to the gym. It takes self-discipline to choose a side salad when the crispy french fries look so much more enticing. But the little things add up. Moderation and routine are the two key words to maintaining your health over the long haul.
Our recent investment
We recently made a “real wealth” investment. One that filled my soul more than any tangible item I could purchase. Last fall we were able to corral all four of our adult sons and their families to spend a week at the Oregon coast, which I wrote about here. Everyone had such a good time that we decided to do it again this year. Schedules were left behind, and cell phones were rarely looked at, as we enjoyed each other amongst the sand, waves and salt air. This is the real wealth in life. Does it take some financial resources to do? Of course. But I would much rather spend my money on that than another tread mill. Below are a few highlights from our trip. Prepare for a photo bomb.
Conclusion
Most of our adult lives are all about building our careers, raising our children, and creating a nest egg to retire comfortably. Now that I am in retirement, I want to spend my hard-earned money on experiences. I want to take my kayak and thermos of coffee out on a foggy morning, just to inhale the beauty of nature. I want to spend money on a unique, memorable trip. I want to experience life. And I am willing to spend my money on that waaaay before I will buy another fondu pot.
