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14 Jun

How Does Your Bucket List Affect Retirement Planning

On: 14th June, 2016   //   By: admin

Retirement Planning Requires Balanced Thinking and Goals

You’ve worked hard for decades, raised your children and sent them to college and now you are getting closer to retirement. You may have a bucket list for retirement which includes a travel list that is long, and your careful saving and planning allows you ample resources for long-awaited trips to faraway places. If this sounds like your kind of retirement planning, keep reading.

Mental health experts are warning retirees about the lure of the bucket list. While the bucket list looks enticing after years of waiting for a chance to travel and have adventures, many that experience its benefits also report troubling problems connected with the wandering lifestyle.

A disconnection with loved ones: Focusing on a bucket list can have unintended consequences, like a lack of connection with loved ones. Many people that focus their retirement planning on fulfilling a bucket list find that their relationships with their grandchildren and children suffer when they aren’t around to live daily life together. While you may be able to organize trips so that you’re there for graduations and other big events, sometimes it’s the more daily activities that create lasting bonding and memories.

Friends may also naturally grow distant if you are spending too much of your time away from home. Even when you are home, your friends may assume that being invited over for a quiet dinner can’t possibly be exciting enough to interest you.

Thrill addiction: A bucket list may also result in a feeling of restlessness when you are home between trips. For some retirees, the high experienced on a thrilling trip can resemble addiction, with periods at home having them itching for their next travel high.

Now, for the good news…

You require very little in the way of a happiness boost. People initiate a bucket list mentality for a variety of reasons, including rewarding themselves for a productive career or fulfilling lifelong dreams of seeing certain places. Overall, the theme of bucket lists is happiness. Studies show, though, that people naturally get happier as they age. Contrary to the trends you’re seeing among retirees, you don’t need your bucket list to be happy in retirement.

Balance your bucket list with connections to friends and family. Like any stage of life, the key to happiness in your retirement years is the connection and service to others. You don’t need to throw out your bucket list, but find ways to balance it with other rewarding benefits of retirement. For instance, take that trip to Europe, but consider taking along a grandchild to build a connection with them. Another option is to trade an expensive vacation for you and your spouse for a family reunion at a location meaningful to your family.

Be sure to spend time on the other activities proven to boost your happiness, such as mentoring young people. Find someone just starting out in your field and offer to have coffee with them. They will appreciate it, and you’ll enjoy sharing the insight and experience that made your career so rewarding.

For more information about a balanced approach to retirement planning, make an appointment with Aura Wealth Advisors. Aura Wealth Advisors cares about helping you not only protect and grow your wealth, but also about helping you live the retirement you’ve envisioned. We look forward to discussing your plans!

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