The answer to that question partly depends on the amount you have saved by the time you retire. For instance, if you have saved more than enough for basic expenses and you enjoy adventure, you will likely take one or more trips each year.

Possibly, you will delay retirement until past the age of 65. There is research showing that those who continue working past the normal retirement age actually live longer. Keeping physically active, mentally stimulated, and socially engaged with peers is conducive to longevity and to personal happiness. It seems that the busiest people are usually the happiest people.

The pre-retirement, working years are often referred to as the “accumulation” phase of life. Of course, the accumulation of wealth need not end at retirement. The net worth of some individuals, especially of those who have invested well and managed their expenses, continues to increase for the duration of life.

The post-retirement years are often referred to as the “legacy” phase of life. This is a time to consider what positive difference your life has made and can continue to make, the values you will transmit to family, and how to transfer the wealth you have spent years accumulating. Consider whether you are able to leave a charitable legacy that will perpetuate the mission of our organization or others. A simple way to do this is via a bequest, but we can show you other ways that also provide financial security to you and your family.

As you plan how to spend your retirement years, include your dream trips, pursue interests for which you never had time, rekindle relationships with friends, and just plain relax. Yet, more satisfying than any of these things is what you do for others while creating your legacy.