Working as a Greeter vs. Lounging On the Beach (Or, What Do You Want to Do in Retirement?)
If retirement seems like a distant, not-very-pressing event, chances are you haven’t given a whole lot of thought to what you’ll actually do when you’re retired.
But the kinds of things you hope to do during retirement will impact your planning.
So, what do you want to do? Work as a greeter? Volunteer at the art museum? Lounge on the beach? Travel the world? Or something else? And what kinds of things would your spouse like to do, if you are married?
Keep in mind that not only will the kinds of things you want to do in retirement impact your planning, how you hope to carry out those plans will too. For example, if you want to travel the world, you could do so by working on organic farms, or by staying at 5-star resorts, and the costs would vary significantly.
If you have no idea of what you might like to do during retirement, start by thinking of the kinds of things you like to do now. You might also try out some of the things that you believe might interest you on a smaller scale — volunteer a few times a month somewhere, take a small trip, get a part time job at a coffee shop, etc — to see how you like them.
Once you have a better idea of the kinds of things you might enjoy doing, you can begin to plan accordingly. I intend to plan for both a minimal retirement and our dream retirement (once we figure out what that might be). That way we’ll have a better idea of what to set as goals.