What is on Your List of 2019 Goals?

By Robert Fezza and Steve Siders

Hello 2019! It’s a new year, which means new opportunities abound. Are you laser focused on new goals? What are the chances getting prepared for retirement is on your list? If so, you’re in luck. Whether you are planning to retire in 1 or 10 years, here are some things you should consider.

There is a misperception that preparing for retirement is strictly about money. Although this may be of most importance, we’ve witnessed enough transitions into retirement, and stages of living throughout it, to know most people need a broader perspective regarding retirement.

We highly recommend you have meaningful conversations in anticipation of what retirement “looks like” for you (and your spouse). If you’re within 10 years of retiring – it’s prime time. Assess your own circumstances, desires, goals and dreams. Retirement isn’t the end, it’s a new beginning! Are you ready?

HEALTH How would you describe your health today, your family history, your life expectancy? It’s less costly to maintain your health than to spend time at the doctor or in recovery. Your diet and exercise habits are important in 2019 and beyond. Make physical and mental health a priority as you prepare for the transition into retirement. A good attitude is everything. If you are struggling – seek help. Make the most of your next 20, 30, or 40 years!

FAMILY/FRIENDSHIPS Assuming your children are grown and off your payroll, it is critical that you and your spouse reinvest in yourselves. Marriage is life-long and the comfort of a companion is valuable throughout retirement. Married or not, it’s also important to rediscover or develop new interests to create social wellness. Social connections throughout retirement are incredibly healthy.

LOCATION Ideally, where do you want to retire? Remember, you have the freedom to choose. Will kids/grandkids be nearby? What energizes you—sunny skies, an outdoor lifestyle, what size town or type of geography? We agree that Atlanta is a great place, but if you’ve never dreamt of living elsewhere, now is your chance.
Activities/Travel What do you enjoy doing? Now is the time to reassess your hobbies and interests and to create new ones if desired so you will have activities and events you look forward to enjoying in retirement. What places are on your travel bucket list in Georgia, the U.S., the world? Oh, and don’t forget about volunteering. Serving others creates an incredible opportunity to also serve your own passions and purpose.

FINANCES The key to living a fulfilling retirement is knowing you can do what you want, when you want. This sense of independence can be uplifting with a proper plan. You’ll want to identify your desired spending goals over time and have a plan to achieve them while also addressing various risks (inflation, cost of care, interest rates, market returns, etc.). Determine when and how to best receive income from pensions and/or social security and make tax efficient withdrawals from your different investment accounts—all so you can live out your years in comfort.

What do you think? Are you on track? Be sure to prepare a thorough, comprehensive, risk-wise plan for yourself and review it regularly so you can proactively make adjustments as needed. Or, seek a trusted professional to help. Life is a journey, navigate it wisely. ❍

Robert Fezza, CFP® and Steve Siders, CFP® own Odyssey Personal Financial Advisors, 500 Sun Valley Drive, Suite A-6, Roswell, GA. Their firm specializes in working with people who are serious about making progress toward financial goals. Odyssey manages portfolios greater than $250,000. 770-992-4444, Visit the site. Securities offered through Cetera Financial Specialists LLC, member FINRA/SIPC. Advisory services offered through Cetera Investment Advisers LLC. Cetera entities are under separate ownership from any other named entity.