Let’s take a look at each of the three topics of mind, matter, and money to see how they form some of the basis of a healthy, happy period in life.
Money— Saving for retirement is an activity best done on an ongoing basis versus waiting until all other bills and obligations have been satisfied. The strong forces of compounding coupled with time can provide one of the best methods to accumulate a healthy nest egg.
Matter— The matter I am speaking of in this context is very literally your “matter”, i.e. your body. If the time for fitness and proper care are relegated to “some day” and we enter retirement in less-than-healthy states of health, all the money in the world cannot promise a long and healthy life.
Mind— This aspect of preparation is centered on your mindset and your mental preparation for the challenges of retirement. The reality of the changes in daily schedules can be freeing to some, but worrisome to others. Couples accustomed to their somewhat individual lives and schedules now share a 24/7 life and don’t always adjust to the loss of independence and autonomy that the work world provided. In many cases the adjustment period passes and a new normal emerges. Those that seem to do best, in my observation, are those that have cultivated hobbies, interests, volunteer activities, and set other goals prior to the onset of retirement.
The synergy of these three factors is quite apparent when we come to retirement with adequate financial resources, a healthy body, and a positive mental attitude. Any one area is important and vital, but having all three can produce one of the best scenarios for a fulfilling retirement.
Deborah E. Pajak, CFP®, ChFC®, CLTC, CDFA™ is a registered representative of and offers securities, investment advisory, and financial planning services through MML Investors Services, LLC, member SIPC. 5001 Louise Dr. Suite 300, Mechanicsburg, PA 17055 (717) 791-3300. CRN202005-231161