Spring Cleaning for Retirement
Much like the arrival of spring, retirement marks a fresh start. But retirement isn’t just a fresh start—it’s a chance to clear out more than just your closets and garage. It’s time to let go of what no longer serves you and make room for more of what makes you happy and can help provide a better Return on Life. It can also make it easier to manage your new beginnings and help you flourish through life’s big changes.
Start by looking back on your career and identifying what you liked most about your job. Then, think about how you can clear away the things that made work feel like work, such as:
1. Stress
Even if you loved your job, you probably didn’t love the deadlines, high expectations, and constant pressure that came with it. Now that you’re retiring, give yourself permission to slow down. Start by taking a real break. Book that vacation you’ve always wanted to take. Or simply enjoy a few weeks with no plans, no schedule—just time to do whatever you want, whenever you want. When you’re ready to ease into a routine, make stress relief part of it. Whether it’s morning walks, yoga, meditation, or journaling, find what helps you feel your best in this new chapter.
Now, let’s talk about something else worth clearing out—tasks that filled your time but didn’t add much joy.
2. Busywork
Not everything about your job was fulfilling—there were probably plenty of meetings, emails, and paperwork that just drained your energy. The good news? In retirement, those things are optional. You get to decide how to use your time and talents. As a consultant, teacher, or volunteer, you can choose how and when you work. Take a part-time job at a nonprofit that’s important to you. Mentor the next generation of talent in your field. Or even launch your own dream business—on your terms. After all, retirement isn’t about keeping busy. It’s about spending time doing what actually matters to you.
3. Networking
You probably made some powerful connections with other professionals in your field during your career. Some of these people might be genuine friends. Others? They were just part of the job. In retirement, you shouldn’t feel the pressure to “network” with anyone you wouldn’t want to play a round of golf with or meet for a cup of coffee. As you enter this next chapter, consider which connections truly enrich your life. Retirement is a chance to surround yourself with people who uplift and inspire you. And while connecting with seniors who share your interests can enliven retirement, it’s also important to invest more time in your most important relationships: your friends and family. If you’re lucky, this network might expand to include in-laws and grandchildren!
4. Earning
For years, you probably defined success based on promotions, paychecks, and productivity. Now, you have the freedom to redefine it—on your terms.
But if you’re that focused on “keeping up with the Joneses” or suffer from FOMO, are you really living the best life possible with the money you have?
And if you’re always chasing the next paycheck, will you ever feel ready to stop earning, tap into your nest egg, and start truly enjoying retirement?
This next chapter isn’t about keeping up—it’s about living fully.
Our Life Planning process and tools can help you gain clarity and confidence as you enter retirement. Let’s start your retirement transition by working through our interactive Life Planning tools. We’ll discuss what you’ve seen from happy and unhappy retirees, some potential retirement pitfalls that planning can help you avoid, and what your Ideal Week in Retirement could look like. Together, let’s clear away some of the clutter from your financial planning and get you ready for a successful retirement.
Ready to start clearing the path for a fulfilling retirement? Let’s chat. We’ll help you build a plan that aligns your TEAM of capital—Time, Energy, Attention, and Money with the life you truly want to live.
This Week’s Favorite Reads
This week’s favorite reads include articles discussing how implementing tax planning strategies now can help make retirement less expensive later, why women live longer than men, and mind over money. You will also find an article offering strategies to help you overcome life’s unpredictability and a link to this year’s Berkshire Hathaway shareholder letter.
Here are the links to this week’s articles, as well as a brief description of each and why you should check it out:
1. A Tax Strategy Now Helps Make Retirement Less Expensive Later.
We often write about the vital role proactive tax planning can play in reducing future retirement expenses. In this article, the author discusses three tax buckets:
- Tax-Deferred Accounts: These include traditional 401(k)s and IRAs. You contribute pre-tax dollars to these accounts. You pay taxes on withdrawals.
- Taxable Accounts: These include brokerage accounts and savings accounts. You pay taxes on capital gains, dividends, and interest income.
- Tax-Free Accounts: You fund accounts such as Roth IRAs, Roth 401(k)s, and Health Savings Accounts (HSAs) with after-tax dollars. Under the appropriate circumstances, you can make tax-free withdrawals.
You can read more about how retirement income gets taxed in this blog.
2. Why Do Women Live Longer Than Men?
Women in the U.S. generally outlive men by about five years—80 to 75. This happens regardless of where they live, how much money they make, and many other reasons. This article attributes this disparity to several factors:
- Biological Factors: Women possess two X chromosomes, providing a genetic advantage that may contribute to longevity. Plus, hormones like estrogen are believed to enhance cardiovascular health and bolster immune responses, offering additional protection against age-related diseases.
- Lifestyle Choices: Men are more likely to engage in high-risk behaviors, including smoking, excessive alcohol consumption, and neglecting regular medical check-ups. These behaviors increase their susceptibility to life-threatening conditions such as heart disease and cancer.
- Social Connections: Women typically maintain stronger social networks, which have been linked to improved mental and physical health, thereby contributing to increased lifespan.
While we control some of these factors, like drinking, smoking, and diet, we don’t have a clear understanding of whether changing these habits would impact longevity.
3. Mind Over Money.
While we may think we make rational spending decisions, psychological factors influence them. This article looks at some of these factors. They include distinguishing between needs and wants, mood or emotional state, social influences or cues, and personal history. We also use our money for more than our short-term financial security. It can also increase our confidence about the future. However, many of us have a hard time investing in our future selves, as we don’t know that person. Recognizing these influences—and others—can help us make more deliberate and fulfilling financial choices.
4. Acceptance and Action.
We have all gone on trips where bad weather—like unexpected rain—alters our experience. While we can’t control life’s unpredictability, we can choose our response. The author shares how shifting our language from “but” to “and” to “so” moves us from resistance to acceptance to proactive action. For example, saying, “I’m on an amazing trip, and it’s raining, so I’ll enjoy the waterfalls,” transforms perspective. This approach shows how embracing life’s surprises and turning challenges into opportunities for growth and appreciation allows us to navigate life’s surprises with resilience and grace.
5. Berkshire Hathaway Shareholder Letter[i].
As he ages—he’s 94— Warren Buffett’s shareholder letters are getting shorter. But they still contain meaningful lessons. The following represent some of the key lessons found in this year’s letter:
- Give credit to others. Buffett credits GEICO’s turnaround to Todd Combs and emphasizes the company’s long-term investment philosophy, favoring equities over cash despite recent portfolio adjustments.
- Candidly acknowledge your investment mistakes. This reinforces Berkshire’s commitment to learn from errors and make decisive corrections.
- Offer praise rather than criticism. In this year’s letter, Buffett praised Pete Liegl, founder of Forest River, for his exceptional leadership, which significantly contributed to Berkshire’s success.
This year’s letter also spotlighted Berkshire’s tax contributions, with a record-breaking $26.8 billion paid to the U.S. Treasury in 2024, surpassing all U.S. corporations. Plus, Buffett defended capitalism’s role in driving innovation and prosperity, emphasizing America’s economic resilience.
Finally, Buffett invites shareholders to the annual Omaha meeting, promising an engaging event while humorously reflecting on aging, lifelong learning, and the importance of ethical leadership. I plan on being there again this year. Let me know if you plan to go, too. I would love to connect.
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[i] Shares of Berkshire Hathaway are held in some client portfolios as well as my personal portfolio.
For firm disclosures, see here: https://apprisewealth.com/disclosures/
