When it comes to retirement planning, envisioning your ideal lifestyle is crucial. As you reflect on 2023, consider the moments that brought you joy, the places that inspired you, and the people who made each day special. To kick-start this process, grab a sheet of paper or record yourself discussing these experiences — the ones that made you feel younger than your years or brought you great pleasure. The objective is to incorporate more of these experiences into your retirement.
However, it’s important to ground your dreams in financial reality by crafting a retirement plan that includes the costs associated with these desired activities. If international travel with loved ones or friends is a passion, be sure to factor this into your retirement budget. Likewise, if golf or pickleball is your “thing,” consider the increased fees of regular play. Remember, paying to play is an investment in your well-being. Just be sure your debts are paid down, and your retirement accounts are healthy and optimized to provide adequate income.