Picture this: a group of a dozen women and men; most are retired or semi-retired, diving together for seven full days in a tropical paradise. Every person in this “older crowd” is not only healthy enough to get themselves to the Gulf of Mexico to enjoy an activity they love, but they’ve also achieved a level of financial security that, while it may not have them swimming in money, at least has them swimming with the fish. No matter what challenges they have faced in the past, these are people who are truly succeeding at retirement.
How did they achieve the Holy Grail and “win big” in retirement? That’s what I found myself asking as I enjoyed my days with this great group in Cozumel last week. As a financial advisor, this type of winning is my goal for all of my clients, and I wanted to understand how this group had gotten where they are today. So I listened to their stories.
My friend Chantal (my travel companion and dive buddy for this trip) told me that, for her, “retirement is freedom.” After years or hard work, she wanted to be free to enjoy life on her terms. To make it happen, she decided to retire but to continue to do some part-time work as an expert witness (she has a Ph.D. in Pharmacology). The rest of her time is her own. Chantal looks at the world as an opportunity, and even when things go a bit sideways, she has a way of always looking at the sunny side of the situation. (It’s no wonder I love having her by my side as a fellow traveler!)
When Ken, our travel leader in Cozumel, was ready to leave the corporate world, he started thinking about what would make him happiest. He had been the leader of his dive club for years, and diving was and is his passion. He decided to semi-retire and turn his passion into a business. Channel Island Dive Adventures was born, and Ken (and all the rest of us) couldn’t be happier!
Chantal, Ken, and others I chatted with on the trip have something other than diving in common. (While it may sound like an easy fix, I don’t think diving is the key to a successful retirement!) Interestingly, what they share seemed to jump straight from the pages of the book I was reading during the trip: How to Fail at Almost Everything and Still Win Big (Kind of the Story of my Life) by Dilbert cartoonist Scott Adams. This semi-memoir isn’t a great piece of literature, but it’s a fun, inspiring read, and it drove home everything I was seeing and hearing during my weeklong adventure. What I realized is that nearly everyone in our group followed what Adams lays out as his steps for “winning big.” They worked for Adams, who opened—and soon closed—two restaurants, was fired from multiple jobs, and who managed to leverage his failures into fame and fortune as a successful cartoonist. And they worked for my fellow divers, all of whom seem to be living their retirement dreams—on their terms. Here are the three common keys to success:
- Make fitness and sleep a priority. No matter how much money we have to spend in retirement, none of that will do any good unless we’re healthy enough to enjoy life! Keep your body moving. Walk. Do yoga. Lift weights. Do whatever you can to keep your body fit and active. And while there are never enough hours in the day, most people need to spend about 8 hours sleeping to function at their best. According to this article in AgingCare.com by the National Institutes of Health (NIH), “older adults need about the same amount of sleep as younger adults—seven to nine hours of sleep per night.” Not getting enough? The article also offers tips to help make it happen.
- Reduce stress. Easier said than done, I know, but the impacts of stress on your body and your mind are many. It’s one reason I began a dedicated meditation routine last year. And while there are many approaches to help reduce stress, remember that stress is caused by the things you don’t do. Take care of the things that increase your stress levels first.
- Have a positive attitude. Scott Adams’ stories about his life are great examples of turning lemons into lemonade. Corny as it is, that kind of positive attitude can change how you see the world—and how the world sees you in return. According to this great article in the Huffington Post, “positive thinking” is no longer a fluffy term that is easy to dismiss. In fact, research shows that “positive thoughts can create real value in your life and help you build skills that last much longer than a smile.”
How can you win big in retirement? Start with these three steps. Of course, getting your financial ducks in a row is also key. Work with an advisor you trust, and be sure to look at every aspect of your financial life—including your retirement goals. Stress really is caused by the things you don’t do. By planning well for your future, you can reduce stress, increase happiness and, indeed, win big in retirement.