by Leann Zotis

Created on: May 21, 2008   Last Updated: December 03, 2009

From the day we draw our first paycheck from an employer, we all have an idea somewhere in the back of our minds that one day we will retire. If we're lucky we may have defined benefits packages, 401k plans, profit sharing programs, savings accounts or the sense to set up an IRA early in our employment cycle. Information on how to prepare financially for retirement comes at us from all sides and can be accessed at many points along our working career. Financial preparation, as daunting as it can seem, may actually be the easy part about preparing for retirement.

Less thought is given to the mental preparation needed to enter the world of retirement. We know how to deal with the financial currency of retirement. Do we have any idea how to prepare for the "free time currency" that will be ours in abundance? Sure, we all claim to savor the idea of having more time to travel, more time to spend with our spouse, children, or grandchildren, more time to garden, build something in our workshop, or just relax.

Do we really give any serious thought to just how much "time" we will have on our hands? Do we plan adequately to fill the spaces of our lives that will take us from the first moment of retirement to the last moments of life? Full time professional employment gobbles up huge chunks of our lives. Even working at less than full time employment fills large spaces in our existence. These spaces can become gaping voids in our life if we give little or no thought to how we will fill that time once it becomes ours to control.

Do you have a hobby? Do you play the piano, knit sweaters for the homeless, test out new recipes in your kitchen, or read classic novels? Exactly how many hours a week would you like to devote to this activity if all 168 hours per week were at your command?

Do you plan to see the world some day? How many vacations, cruises, day trips, or camping trips can you actually afford each year after your income becomes somewhat fixed? Will the people you want to include in these activities have enough free time to join you?

What about your social connections at work? Do you have enough friends, family and other members of your social network outside of work to fill the void when you no longer make that commute to the office? How will you fill what used to be your networking time on a coffee break or business lunch when you are no longer part of important business decisions? What about that need to be a vital, contributing member of society? Will you feel

• 1
• 2
• Next Page >>