Don't Just Plan Your Retirement—Imagine It. Why Every Retirement Plan Needs a Lifestyle Vision, Not Just a Financial Strategy.

Most retirement planning focuses on savings, investments, Social Security, and healthcare. While those financial decisions are essential, building a fulfilling retirement lifestyle is just as important. 

Ask someone what they're retiring from and they'll probably tell you:

Meetings. Deadlines. Stress. Commuting. Those early alarms.

But ask them what they're retiring to… Many people pause.

They really have not considered much of anything besides escaping from the daily grind of their job.

In actuality, financial planning significantly outpaces lifestyle planning. About 74% of people plan financially for retirement, while only 35% make a similar effort to plan emotionally and practically for their lifestyle. [Source: T. Rowe Price].

That gap in percentages immediately creates curiosity as someone who recently stepped away from corporate life.

Retirement Planning Is About More Than Money

For me I often asked myself, “when I retire dot, dot, dot”.

I was going to open a frozen yogurt shop. I would volunteer more. I would like to become a life coach.

For me dreaming about what I would do in retirement was just as important as figuring out the money

But for most, retirement planning focuses on income, savings, social security, healthcare, taxes and investments. 

Basically, the money… Which are all important.

But none of those answered the question: What will you do on Tuesday morning?

Why Purpose Matters

Identifying one’s purpose is important at every age since we all want to feel like our lives matter and we are contributing to making the world a more caring, healthy, and compassionate place. Some people experience a sense of purpose in their careers, which can lead to a sense of loss after retirement. [Source:Stanford]

For me work provided me structure, my identity, and honestly most of my relationships. The praise, accolades and achievements that my spirit needed also came from my career.

And as a planner, it provided the routine that I really needed to give me purpose to get going every day.

But when the work disappeared, many of those things disappeared too and that was frightening and gave me a lot of anxiety.

I often hear my colleagues who have retired say “I somehow fill my day”.

But I was not ready to give up my calendar to fate.

You Should Dream Before You Budget

So before I departed for early retirement I started to really knuckle down and dream about what my retirement would really look like. With clarity and a few specifics.

I gave myself time and space to ask myself the following questions:

• Where do I want to wake up?

• Who do I want to spend time with?

• What hobbies have I postponed that I may want to pick back up?

• What causes matter to me?

• What adventures do I want?

• What skills do I want to learn?

• Who do I want to stay connected with?

How to Build a Meaningful Retirement Lifestyle

I would encourage everyone to consider building a retirement lifestyle BEFORE you retire. 

Not only will this ensure that you have purpose when you depart.

But it can also give you excitement and build-up when the timeline of retirement seems so far away.

One of the best ways to prepare for retirement is to intentionally design the lifestyle you want to live. Consider these six retirement lifestyle categories:

1️⃣ Adventure. Things like travel, road trips, driving to National Parks, cruising (my favorite).

2️⃣ Contribution. Providing support to your community, mentoring, volunteering, assisting your church, or assisting a non-profit.

3️⃣ Personal Growth. Learning a new activity like photography, master gardening, woodworking, painting, music, or even languages.

4️⃣ Income (Optional). Perhaps you consider consulting, substitute teaching, part-time work, side business, coaching sports, or what about your passion project that you have envisioned creating.

5️⃣ Wellness. Consider expanding or maintaining your fitness, daily walking, strength training and yoga, cooking for pleasure, nutrition, golf and of course the latest craze pickleball.

6️⃣ Relationships. How will you grow your spirit? Visiting grandchildren, enjoying get together with friends, engaging with your family, inspiring your marriage or branching out with new travel partners.

Create a Retirement Vision Board for Your Next Chapter

I am a big believer in seeing something you can look at every day for motivation.

So I encourage you to consider creating a Retirement Vision Board.

If you are not familiar with the term, a vision board is a collage of images, words, and affirmations that represent your goals, dreams, and desired life outcomes. It serves as a visual reminder to keep you focused, inspired, and motivated.

So instead of only asking yourself how much money do I need in retirement.

I encourage you to use this opportunity to create a vision board specifically to answer the question: What kind of life am I funding?

Some thought-provoking ideas could include:

• Pinterest boards

• Magazine clippings

• Journaling

• Look over your Retirement Bucket List

• Photos

• Travel maps

• Annual retirement goals

Your Retirement Roadmap Has Two Parts

I think your retirement plan could have two parts.

The first part is a Financial Roadmap which explains the money side of how you will pay for retirement. 

The second part is your Lifestyle Roadmap which details how you will enjoy your retirement.

You need both.

One without the other leaves the plan incomplete and perhaps floundering when you eventually retire because you do not have retirement purpose and instead could enter a rut of complacency.

Imagine Your Ideal Life After Retirement

I want you to ask yourself, if money was not a concern...

How would you spend your mornings?

What would you learn?

Who would you help?

What adventure have you been postponing?

What legacy do you hope to leave?

Do not be disappointed if you cannot answer these right away. 

They are meant to provide you time for reflection and analysis for considering the future you want to live in. 

So, use this time to generate a new story in your journal or electronic notebook.

My hope is it provides clarity and awareness so that when you do retire, it is not just about running away from the job that no longer satisfies you so you can sit on your couch each day. 

Not that becoming a couch potato is not something perhaps you have earned, but I don’t think that will suit you after the first few weeks.

Instead, I want you to have a purposeful opportunity as you age, tackling new mental opportunities while also encouraging yourself and your family to give back to your community now that you are not hindered by working 45+ hours each week.

Retirement isn't the end of your story.

It's the beginning of the chapter you've been preparing to write for decades.

Don't spend all of your energy planning how you'll leave work.

Spend equal time dreaming about the life you're building next. 

Keep Your Brain as Healthy as Your Body

Retirement isn't only about staying physically active.

It's also an opportunity to keep your mind engaged by learning new skills, reading more, taking community classes, perhaps learning a language, playing strategy games, teaching others and mentoring.

Research suggests lifelong learning and mental stimulation can support healthy aging and improve overall well-being.

So keep this in mind as you explore the retirement lifestyle you are creating.

Retirement Lifestyle Checklist

A retirement lifestyle checklist is vital because it translates your vision of how you will spend your time and money. Use this a quick and easy reference:

✔️ What excites me?

✔️ Where do I want to live?

✔️ Who do I want to spend time with?

✔️ How will I stay active?

✔️ How will I continue learning?

✔️ How will I contribute?

✔️ What legacy do I hope to leave?

A Little Encouragement

This week I challenge you to spend 30 uninterrupted minutes imagining your ideal retirement day.

Not your finances. Your life!

Write down everything that comes to mind from the moment you wake up until you go to bed. Do not focus so much on retirement planning, but retirement lifestyle planning and retirement dreams.

What does life after retirement feel like? What do you see as your retirement vision?

Then ask yourself:

"What small step could I take today to move one step closer to that vision?"

If you are looking to enhance your financial literacy, here is another recommendation from Ameriprise:Planning your ideal retirement lifestyle.

And remember, your financial plan helps fund your retirement.

Your retirement vision gives that plan purpose.

When you combine both, you aren't simply preparing to leave work—you are intentionally designing the next chapter of your life.

If you're unsure where you are in your own retirement lifestyle planning, I'd love to help. During aFREE 45-minute retirement clarity call, we'll identify where you are today and build a roadmap toward the future you want. 

If you are overwhelmed about your finances, before building your retirement lifestyle start with my 7-Step Financial Roadmap.

If you have enjoyed this article, follow me on social media @lordfinancialcoaching.