After years of hard work, you’re finally approaching retirement. Whether it’s a few months or a few years away, the long-anticipated freedom of this next stage is in sight.
As exciting as this milestone is, it can also feel overwhelming. Many of the clients MPPL Financial works with find themselves asking the same important questions:
- Will my savings sustain me for the rest of my life?
- Can I take that dream vacation, or buy a second home?
- How will I spend my time?
- Will I be bored?
- Where will I find purpose and meaning?
- How will it work when my spouse and I are together 24/7?
The transition to retirement is often portrayed as pure freedom. In reality, it’s a major life shift that requires both dreaming and planning. With the right preparation, you can create a retirement that exceeds your expectations
First Steps to Creating a Dream Retirement
To help you get started, Kara Proctor, CFP® and Director of Financial Planning at MPPL Financial, shares three key steps for building the foundation of an extraordinary retirement.
1. Assess where you stand financially.
This exercise always starts with you taking an honest look at your annual budget and cash flow needs for daily living as well as unforeseen expenses or outflows. This exercise also entails documenting your overall wealth picture by making a list of all of your savings and investment accounts, along with any other income producing assets such as real estate or a side hustle. A certified financial planner can help you with this exercise. At MPPL Financial, we are here to help.
2. Determine what’s important to you.
Clarifying your priorities is just as essential as evaluating your finances. Consider where you want to live, how you want to spend your time, and the role of travel and exploration in retirement. “If you have a spouse or partner, finding alignment with this special person is an added twist — and an important factor in creating an extraordinary retirement,” says Proctor. Exploration can help clarify your priorities: try new things, do research, and lean into this stage with curiosity. A coach can also help you focus on what matters most.
3. Dare yourself to dream.
This is where retirement planning becomes exciting. Jot down your vision for where you’d like to live and what your daily life might look like. “If you struggle to know where to start, our professional coaches can help guide you through the process,” Proctor adds.
Pulling It All Together: Creating an Extraordinary Retirement
At MPPL Financial, we believe there are Seven Key Elements of Retirement Success that help make this next chapter one of your best. Without proper planning, retirement can feel uncertain and chaotic. But with thoughtful preparation, it can be full of joy and fulfillment.
The ideal planning team includes experienced life coaches — who help you define your vision and align with your partner — and financial planners, who assess your resources and create a strategy for sustaining your lifestyle.
That’s why we’ve partnered with Metamorphosis Coaching and Consulting to offer Retirement Enhancer, a highly consultative program designed to help you:
- Dream boldly about possibilities you may not have considered.
- Plan purposefully, with clarity on what’s financially achievable.
- Live intentionally, following a step-by-step, 360-degree personalized roadmap for retirement.
If you want to explore, create, and align your vision for retirement — but aren’t sure where to start — Retirement Enhancer could be the perfect fit.
You can learn more about our program by clicking here.
Retirement Enhancer is a proprietary program built and delivered in coordination with Metamorphosis Coaching, Consulting and Training (Metamorphosis CCT). MPPL is independent and separate of Metamorphosis CCT.