How are those 2020 plans working out for you? In crazy and uncertain times, it’s easy to get sidetracked. To feel helpless and stressed. To give up or get discouraged. To ask: “What’s the point?” To pick up bad habits. And even to actively do things that reduce your odds of long-term retirement success. Things like:
- Not being intentional with your time and money
- Not exercising
- Eating badly
- Drinking too much
- Not learning new things
- Having too much debt
- Neglecting your marriage
- Not investing in your friendships
- Associating with the wrong people
- Allowing yourself to get bitter over circumstances
- Taking life for granted and assuming it will go on forever
- Getting stuck in routine
- Comparing yourself to others
- Not taking some “at bats.”
- Letting the headlines derail your investment strategy
- Doing nothing instead of doing what excites you
- Not taking care of your mental and emotional health
- Caring too much about what others think
- Mimicking others rather than deciding what you really want out of life
- Having an external vs. internal locus of control (i.e. “Everything is out of my control.”)
Are you struggling with anything on that list? If so, what’s one thing you can stop doing this week because it is holding you back and harming your chances of a successful life and retirement? What’s one thing that needs to go because it doesn’t align with what you want your life to be? Don’t let a difficult year derail all your hard work. It’s time to weed the proverbial garden.
Quick thought for today.
If you want to live an intentional life, you should focus primarily on
the present. Let me explain. We all spend part of our days—either mentally
or physically—in the past, present or future.
You’re sitting there right now in the present, but maybe you’re thinking
about something you did this past weekend or dreaming about something you hope
to be doing 5 years from now. Past, present
and future. We all spend our time
inhabiting each of those spaces.
Unfortunately, most of us mess up the proportions. We spend too
much time and energy on the past and the future and not enough on the
present. We look back and worry about the
things we did or didn’t do. We look
forward and dream about the things we hope to eventually do. That only leaves a small amount of our time
where we’re honest to goodness living in and making the most out of the
I’m not saying that you should ignore the past and the
future, but the present should be your priority. Anything else means you’re focusing on things
you can’t change (the past) or things that might not happen (the future). Here are a few suggestions on how to get the
How to use your past:
Don’t obsess over it. Don’t
waste your time thinking about regrets or wishing you had done or said things
differently. Don’t cling to
bitterness. Don’t hold grudges. Instead,
think fondly of the good times and be grateful for the wisdom earned and lessons
learned from the challenging times. Use
it as a foundation to build on. Remember
the people, places and things that made you who you are.
How to prepare for your future: Don’t push everything to the future. Don’t treat it as some magical time where you’ll finally start living. Delayed gratification is great if it’s allowing you to work toward something, but it becomes a problem if it becomes an excuse for life avoidance. Use the runway between the present and the future for planning and preparation. Use it to set the proper direction for your life and to get any necessary prerequisites out of the way. Use it to set goals, dream, plan, save and even to experiment. All of those things will help you hit the ground running and make the most out of your future years.
How to live in the present: Don’t get bogged down in the routine of
life. Don’t focus all your time on the
maintenance of living. Don’t live a life
that is frantic and unintentional. Be
present in your days, with your friends and during experiences like vacations
rather than worrying about how to make it look a certain way on social
media. Decide what you really want out
of life and start doing that. Today. Even if you have to start small, start. Have intentional action in your relationships,
activities, health, hobbies, pursuits and every other area of your life. Be proactive.
Learn. Do. Go. Experiment. Take risks.
In other words, live.
A good balance of past/present/future is something like
10/60/30. If yours looks more like
30/20/50, you’re not really living life.
You’re worrying about the life you’ve already lived and dreaming about a
life you hope to someday live.
At Intentional Retirement, we believe that retirement is an
intentional way of living that prioritizes freedom, fulfillment, purpose and
relationships. It starts today and is an
incremental process of aligning your lifestyle and actions with your highest
priorities. To do that, you need to
focus on the present. Stop fretting over
what is past or dreaming about what is to come.
Today is a new day. Start doing.
How healthy are your friendships? The answer will have a huge impact on your retirement. Research shows that friends (or lack thereof) can affect your health, happiness and even your habits. Let’s look at the findings, examine some of the challenges your friendships will face as you age and discuss a few ways to make and maintain friendships during retirement.
How Friends Affect Us
According to the Mayo Clinic, friendships can affect your
health and happiness in a number of important ways:
- They provide support in tough times.
- They help you find belonging and purpose
- They reduce your stress and increase happiness
- They give self-confidence and self-worth
- They can help you through difficult times like
death, divorce, illness or job loss
- They provide accountability and positive peer
- They help reduce the risk of things like
depression, high blood pressure and unhealthy BMI.
In addition to the benefits above, friendships can help keep
your mind sharp. Several studies have found
that there is a strong connection between loneliness and cognitive
decline. For example, a 2018 study in
the Journals of Gerontology found that loneliness was associated with a 40%
increase in dementia among study participants.
In another study, researchers in the Netherlands found that people who
feel lonely are about 1.6 times more likely to get dementia.
There’s also evidence that the importance of friendships
increases as we age. Dr. William Chopik
at Michigan State University conducted a study on how our relationships affect
our health and happiness as we age. The results
showed that the benefits we get from healthy family relationships stays level
throughout life, but the value of good friendships has a greater impact on our
health and happiness as we age. According
to Dr. Chopik:
“Friendship quality often predicts health more so than the quality of other relationships.”
The Problem + The Solution
So the benefits of friends are huge, but there’s a
problem. Making and maintaining quality
friendships gets harder as you age. In
mid-life you have competing priorities like kids and work. As you age, caring for your parents often
gets added to the list. And life isn’t
static. Circumstances change and
friendships ebb and flow. Major life
events—death, divorce, job loss, moving and retirement—can derail even the best
of friendships. So if you want to enter
retirement with good friends that have a positive impact on your health,
happiness and cognitive function, you need to be intentional.
That means investing time, effort and often money into your friendships. It means being kind, likeable and trustworthy. It means listening and being transparent. It means being reliable and available. It means celebrating victories and being there when life is challenging. It means being loyal and avoiding drama. It means being proactive about spending time together. All those things have a compounding effect over time. They deepen friendships and give them a solid foundation. And as we saw earlier, those deep friendships take on added meaning as you age.
A Few Practical Applications
The primary takeaway is this: Don’t underestimate the power of friends. They can make or break your retirement. Start working on them now. If you’re looking for a good place to begin, forward this article to one or two of your friends and start a conversation. Ask how you can be a better friend. Plan an adventure or fun outing. Start a new tradition. Discuss ways to deepen your friendship. Compare retirement plans and make sure they overlap in ways that will allow you to maintain your friendship. All of this takes effort, but it’s worth it. The payoff is a healthier, happier life for both you and those you care about.