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Laying Your Golden Retirement Egg

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Golden Egg for RetirementWith my countdown to retirement now on, I’m well on my way to laying my golden retirement egg!  Sure, I have my pension funds and a Registered Retirement Savings Plan (RRSP) but I also want two other things:

  • something to do
  • and earn extra income

With these things my retirement will be a success…and this is something we all need to plan and prepare for.  Retirement, like our careers, should be planned out so it can be lived and enjoyed.  Don’t retire today and wake up tomorrow wondering what you should do with the rest of your life…start doing what you planned.

I thought it would be useful to jot down some ideas for your retirement adventures so that you begin planning early.  That’s the reason for including “laying” in the title because what we “lay” or “plant” now will “crack” or “grow” by the time we actually retire.  Then our golden egg can be cracked or the fruit picked when we can enjoy it most.

Here are my 3 top ideas for each of us to consider when we are planning our retirement.  I’ve also included some relevant links to other posts to continue the brainstorming ideas.  These are only suggestions as I’m sure you will have a number of other ideas that you can add.  But it’s worth having the discussion now because of our unique perspective and experiences; Baby Boomers have always helped one another so brainstorming is welcome.

Will You Be With or Without a Significant Other?

This will be extremely important because it will affect things like travelling or getting involved with various causes, etc.  Even with a significant other you don’t always retire at the same time (12 years difference in my case) and so that will certainly affect what you do.

So you will need to determine what your plan includes and whether it will be done solo or together.  This will make a difference with where you focus your time and energy.  And there is nothing wrong with being a little selfish if you are the one that will retire first and will be needing something constructive to do.  While it may always be more enjoyable with someone else there is nothing wrong with doing your own thing, either.

Do You Have a Hobby or Skill?

I suspect we all have something we’ve enjoyed doing during our career and child-raising years.  We’ve all got a hobby or skill that we’re either doing now or have always wanted to do.  Is it possible that that is something you can develop into a full or part-time endeavor when you retire?  I think that it’s important to look at these things because they already reveal what it is we like to do and say something about who we are.

Why not take the opportunity to continue with these in retirement?  It may also be useful to start early and take a look around for some extra training or clubs to join now.  There may be opportunities to add to those skills and abilities through night courses or even online.  Getting the education before you retire is something that will help you when you retire.

Interested in a Part-Time Business?

As noted above, it’s always useful to have extra income when we retire, whether we need it or not.  This is not something that you want to leave until the eve of your retirement or you just might get caught up in the “shiny object syndrome”; meaning, there are many scammers who just want your money (especially online) and if you’re not focused you might just think that their product will be the one that “makes you rich”…not!

Rather, I would recommend you start before you retire to begin building a business that you will be passionate about for many years and that won’t feel like work…and defeat the whole essence of retirement.

My personal goal is to have an online business that brings in residual income and allows me to buy all the “toys” my retirement heart desires.  If you’re interested in checking this out for yourself you can read my post “The Best Online School for Baby Boomers Creating a Website“.

Those Are My Ideas

These are some quick ideas I came up with when I was thinking about my retirement and what can I do now to prepare.  As I’ve noted in another post, I have 10 years to go before I retire.  Based on that, I want to start now so that the business I am building has time to grow and produce results at a time when I am not relying on it to put food on the table…that can come later.

What are your “golden egg” plans for retirement?  Have you put your mind to this yet, regardless if it’s 10 years or 10 days from now? We’ve seen this day coming all our working lives so it really shouldn’t be a surprise.

I would love to hear your ideas about this and invite you to leave your comments below.  Thanks for reading.

 

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