Reframe How You Think About Retirement, Ep #189

I routinely talk about why you need a new routine in retirement, that you cannot just wing it. Retirement gives you time to accomplish everything you have wanted to do that you have never had the time to do. Retirement can be fulfilling and full of purpose. I have always referred to what you want to accomplish in retirement as your bucket list. In this episode of Best in Wealth, I talk about why I am reframing the way I talk about retirement—and you should, too.

Outline of This Episode

• [1:11] Have you ever really challenged yourself?
• [4:28] James Kerr: Why My Retirement Won’t Include a ‘Bucket List’

Have you ever really challenged yourself?

I went scuba-diving on my honeymoon. I had one lesson from a guy who spoke three words of English and we went straight to the ocean and down 25 feet. Would I ever do it again? No! Am I glad I did it? Yes.

The second thing I challenged myself to do was skydiving (because my wife wanted to). I am terrified of heights—but I did it. When we got to the ground my wife said, “I want to do it again.” She got a resounding no from me.

The third challenge I faced head-on and accomplished was working in Alaska. I lived in a tent for three months working the fish. It was one of the most difficult three months of my life. But I did it. I am 100% glad I saw a challenge, took it on, and accomplished it.

James Kerr: Why My Retirement Won’t Include a ‘Bucket List’

In his opinion piece, James shares that he will never have a bucket list. He finds the idea of checking off items on a list until he “kicks the bucket” to be horrifying. Instead, he has created a challenge list of things he wants to achieve or experience in his retirement.

Your retirement can be whatever you want it to be. You can challenge yourself to adventures you would have never thought were possible. You can learn a new skill. You can stretch yourself to do something that terrifies you. The point? Make the focus of your retirement achieving great things, not watching the clock run down as you check off a list.

Listen to the whole episode to hear James’ entire piece on his challenge list!

Many people are retiring early

The stock market has been on a tear for the last 10 years, portfolios have grown, and people realized they could retire early. Many couples come to me to get a second opinion to make sure they are financially able to retire. Once they know the answer, we move on to the next important topic: are they mentally ready to retire? I ask a lot of questions to make sure they are ready. As a Certified Financial Planner, my job as a fiduciary is to make sure my clients are prepared for retirement both financially and mentally.

What challenges will you tackle in retirement?

Are you an early retiree? Are you thinking of retiring in the next 5–10 years? Humans thrive on routine. The routine that you come up with in retirement will be far different than working life. What is going to fill up your “challenge list?” It is time to challenge yourself to reframe the way you think about retirement. Are you ready?

Resources Mentioned

• Why My Retirement Won’t Include a ‘Bucket List’ by James Kerr
• The Long Walk Home: How I Lost My Job as a Corporate Remora Fish and Rediscovered My Life’s Purpose
• James’ blog: Peaceable Man

Connect With Scott Wellens

• Schedule a discovery call with Scott
• Send a message to Scott
• Visit Fortress Planning Group
• Connect with Scott on LinkedIn
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• Fortress Planning Group on Facebook

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Podcast Disclaimer:

The Best In Wealth Podcast is hosted by Scott Wellens. Scott Wellens is the principal at Fortress Planning Group. Fortress Planning Group is a registered investment advisory firm regulated by the Securities Act of Wisconsin in accordance and compliance with securities laws and regulations. Fortress Planning Group does not render or offer to render personalized investment or tax advice through the Best In Wealth Podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.

About the author, Scott Wellens

Scott Wellens, CFP® is an investment advisor and founder of Fortress Planning Group. After earning his Bachelor of Science degree from the University of Wisconsin-Oshkosh, Scott quickly ascended to become a Vice President of North American Sales at a major regional provider of telecommunications infrastructure. While financially successful in this role, Scott searched for ways to pursue his passion related to financial literacy and providing financial freedom for both his own family and others. During his search, Scott became curious about the significant gap he found in the financial services sector: he was unable to find a comprehensive financial planner that maintained a family stewardship lens without being attached to financial products. Scott decided to fill that gap by creating his own planning firm that maintains a strong passion for comprehensive, unbiased wealth planning that is genuinely client-centered.

Scott resides in Menomonee Falls, WI with his family. He is the father of three active and independent daughters who keep him on his toes. Scott is an active community member, serving on the Hamilton Education Foundation Board, serves as a Dave Ramsey Financial Peace facilitator and leads the All Pro Dad’s group at their local elementary school. Scott enjoys spending his free time visiting state parks with his family, reading, and watching the Milwaukee Bucks and the Green Bay Packers win ball games.

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