As we inch closer to retirement, a few questions are almost inevitable:
- Financial planning: Do I have adequate money—for myself, my
spouse, our children, and medical emergencies?
- Recast / Rejig: Do I have clarity on how I will restructure
my days to lead a fulfilling post-retirement life?
- Empty nesters: Am I likely to feel alone or lonely?
- The best is yet to come: Can these truly be the best
years of my life?
As two happy retirees, I share a framework Ravi has developed, and I’ve
added my tips to it. Together, they capture what I believe should be
done—starting early in life—to truly enjoy the “golden years” after retirement.
Ravi’s
Framework (The Life Balance Triad) has 3 dimensions – Energy,
Time and Money. Here’s how these dimensions map across the four quarters of
life.
Quarter 1: Early Years
When we are young and studying, we have plenty of energy and time to
enjoy life—but little or no money.
Quarter 2: Early Career
As we start working, we still have energy and now earn money too.
However, time to enjoy life becomes increasingly scarce.
Quarter 3: Later Career
In the later stages of our careers, income increases. But
responsibilities grow, and we find ourselves with less time and reduced energy.
Quarter 4: Retirement
A well-planned retirement gives us adequate money and ample time.
Unfortunately, energy levels are lower—and, truth be told, we have limited time
left on this planet to enjoy it all.
So how do we ensure that our post-retirement years truly become our
“golden years”?
Here are some practical tips for each quarter of life.
Quarter 1: Early Years
- Opt for courses and programs that build employable skills.
- Validate the money-making potential of your choices vis-à-vis the time required to earn.
- Work hard, but don’t hesitate to make changes or mid-course corrections.
Quarter 2: Early Career
- Create a roadmap for how you want to spend money—this gives purpose and focus to earning it.
- Invest in relationships and friendships. Ensure these are deep and meaningful, not just fair-weather connections.
- Choose your spouse wisely—a partner who is also a friend, gives you space, has your back, and shares long-term goals.
- Begin focusing on health and fitness.
Quarter 3: Later Career
- In spite of being strapped for time (as you face intense challenges at work), it is critical to step up the focus on yourself—both physical fitness and mental wellbeing.
- Make time for activities you truly enjoy and for relationships that matter.
- Continue to nurture your relationship with your spouse; find shared pursuits you can enjoy together.
Quarter 4: Retirement
- Prioritise health and fitness. While you now have time, be cautious—rekindling childhood passions after 40 years can sometimes be risky!
- Pursue your passions with zeal.
- Pick up new skills—you can teach an old dog new tricks.
- Put your affairs in order: create a will and do proper estate planning.
- Final tip: don’t waste time on what no longer matters. Remember, time is now your most precious currency.
