Numerous studies have shown that the most important factors that determine happiness in retirement are family, friendships and health. Good, active relationships with family and friends have been shown to boost physical and mental health.
Beyond relationships and health, it’s important to have a strong sense of purpose. The people on the island of Okinawa are known for having one of the longest life expectancy rates in the world. Why? There are many factors but one of the main reasons is what they call ikigai (pronounced ick-ee-guy). This word translates into your reason for being. Why you get out of bed in the morning.
Ikigai has also been described as the place where the answers to four important questions all overlap.
What do you love?
What does the world need?
What are you good at?
What can you get paid for?
For people who plan properly for retirement, this may mean focusing less on getting paid for things and more on things you are good at, things you love and things the world needs.
You don’t just need a retirement plan, you need a retirement living plan. Retirement is wonderful if you have two essentials – much to live on and much to live for.
7 Things You Need to do in the Decade Before You Retire
- Determine when the time is right.
- Focus on your retirement target.
- Maximize your nest egg.
- Constantly check on your asset portfolio.
- Create a social security and healthcare strategy.
- Build a retirement income stream.
- Look beyond the money.
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