Hello, I developed a tradition a few years back. Every year I run a 5k race. Being able to run or at least jog three miles throughout my life seems like a worthwhile goal. One of my goals is to be as mobile as possible as I age so that I can get the most out of life. So, in order to have accountability on this goal, I’ve registered for a 5k for the last five years or so. This year I talked my 20-year-old nephew, Landon, into coming down from NC to run it with us. He was coming off just having run a marathon a few weeks ago. So, just think cheetah and gazelle mixed. Amelia running below.

I asked Amelia, our 6-year-old, if she wanted to do it. She nervously agreed. She wasn’t sure what she was agreeing to. Her concerns were what she’d do if she had to use the restroom (this is always a concern), and what she would do if she got thirsty. The race began and Landon took off! Amelia and I started our mosey. Less than a quarter mile in, she said her legs were tired. “Oh, no,” I thought. This was going to be a long three miles. Our jog turned into a swift walk and finally a meander. At one point I asked her if she wanted me to carry her. Aghast at the thought, she said that would be cheating. Something we’re teaching her must be working. The girls and I are pictured with Landon.

After 46 minutes Amelia finished having ran-jogged-walked the whole way. Landon took second place overall averaging 6:37 minutes per mile. Impressive! Something people don’t seem to talk much about are the surprises that happen after we retire. Sometimes we reluctantly agree to finally retire, but never having retired before we don’t fully understand what life will be like. Kind of like Amelia didn’t know what she was getting into. This ambiguity may result in people returning to work just to have something to do, or worse it may lead to conflicts at home. It seems like the arguments may stem from frustrations in figuring out how to navigate a new way of life that includes a lot of free time. Landon on the podium below.

In fact, a Forbes article states, “Another point that captures the essence of this topic is the fact that couples need to find a balance between quality of life and quantity of money in retirement. A big pre-retirement mistake couples make is putting their relationship on the back burner until this next, and supposed better, phase of life.” Like a lot of things, communication and careful planning may help relieve any possible anxiety around what comes next. Think about what you would like to accomplish with your newfound time, and being in control of your schedule each day can empower you. If you need help thinking of ways to plan here is a good list.

I had a teacher in college who always said, “You should plan time to plan time.” It’s true, right? When you don’t have a plan, it tends to create listless circumstances. The other reason why we want to get the most out of our early days of retirement is that we have the best opportunity for doing as much as possible early in retirement. Studies show that people tend to go more in the early years and it tends to taper off as we age. Perhaps it’s due to age or illness. The goal with all financial planning is to help us go into situations as wide eyed as possible so that we can avoid the pitfalls that stand between us and a sound retirement. While most of what we do is numerically quantifiable, we can’t underestimate the behavioral aspects of what retirement will mean for us. Until next week, David C. Treece, Financial Planner 864.641.7955

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Clients Excel, LLC is an independent financial services firm that utilizes a variety of investment and insurance products. Investment advisory services offered only by duly registered individuals through Creative One Wealth. Creative One Wealth and Clients Excel, LLC are not affiliated companies. Neither the firm nor its agents or representatives may give tax or legal advice. Individuals should consult with a qualified tax professional for guidance before making any purchasing decisions. Clients Excel, LLC is not affiliated with or endorsed by the U.S. Government or any governmental agency. Clients Excel, LLC has a strategic partnership with tax professionals and attorneys who can provide tax and/or legal advice. Published on 04.17.2024.