The Scope of Retirement Success

Some years ago, I was a speaker at a conference in the Cayman Islands. Most of the speakers dressed casually and enjoyed the local attractions when we weren’t making presentations. One afternoon, I ran into one of the other speakers in the hotel lobby. He was dressed in a suit and tie. While wiping away perspIRAtion, he said, “I’ve got to get off this island. I’m a workaholic, and this is driving me crazy.”

He probably did well professionally and financially over the years, but he was a long way from a successful retirement. Financial security isn’t an end in itself, and a successful retirement means more than having enough money to last the rest of your life and maybe leave something for others.

We seek financial security so that we’ll be able to do the things we want and find fulfilling. Research shows that people are happiest and most satisfied in retirement when retirement includes more than money. Social relationships are vital. So are activities that keep us mentally active and engaged. Fulfilling activities and experiences play an important role in retirement satisfaction. Many people also benefit from helping others both during retirement and by leaving a legacy.

We focus on our retirement finances in Retirement Watch. But we don’t want to lose track of the real reasons we’re building our financial independence. That brings our first issue of 2019 to a close. It looks like this could be an interesting year in your finances. I’ll be monitoring all the developments and reporting back to you with my analyses and recommendations. In addition to checking each month’s issue, be sure to check Bob’s Journal each week on the member’s section of the website.

P.S. You should sign up for the Retirement Watch Spotlight Series, because my latest detailed semiannual investment and economic review now is available. The Spotlight Series consists of online seminars in which I go into detail about key issues in your retirement finances. You can view these webinars whenever you want from wherever you can access the internet. To learn more about the Spotlight Series, go to the top of the RetirementWatch.com home page and select the Spotlight link.