The retirement question most people seem intent on answering is “How am I going to pay for it?” That’s an important question, of course, but retirement is more than just a math problem.
In my opinion, we spend too much time thinking about how to get there (math) and not enough time thinking about what we’re going to do once we arrive (meaning). If you focus solely on your finances, you risk having a retirement that is cash rich and lifestyle poor.
Cash is great, but it’s not the end goal. Your money is nothing more than fancy paper that our government has created to make commerce and exchange easier. The end goal is not to have money. It’s to use that money to do things that you really care about; things that provide joy, meaning and fulfillment. If you do that, then money (contrary to popular opinion) CAN buy happiness. Let me show you what I mean. I’m assuming you’re all familiar with the mathematical proof: If A=B and B=C then A=C.
Applying that to our discussion:
- If money=control
- And control=doing what fulfills you
- And doing what fulfills you=happiness
- Then money=happiness.
Of course that transitive logic only holds true if you use the time you control to do what fulfills you. Which brings me back to my original point: If you want a meaningful retirement, then you need to treat your planning like more than just a math problem. You need to decide what it is that you really want out of life and use whatever resources you have and time you control to pursue those things. Are you doing that? If so, great. If not, spend some time thinking about what it is you actually want to do with all that money you’re saving.
Have a great week.