If you are reading this, you are probably saving up for your retirement, have run countless numbers, and are looking forward to the day when you are financially independent. In our articles, we have mentioned many times that retirement must be based on good money sense, but we have also emphasized that it’s the emotional component of this new lifestyle that can get one’s nose out of joint. Let’s look at the importance of having flexibility in your retirement.
A “sure-fire” asset you can invest in
Lots of people write to us asking about guarantees in retirement, and they want to know their particular success rate based on their spending habits, the amount of money they have saved and the style of retirement they want to pursue.
No one – over our last three decades of financial independence – has ever mentioned this one particular asset that anyone can invest in, at any time, no matter what their age.
If you want happiness, success in your new lifestyle, or any kind of peace of mind about your future, we would suggest that you invest in personal flexibility in your retirement.
Take a moment to hear us out.
When we first retired, we flew to Nevis, British West Indies to begin our world traveling journey. The Four Seasons Resort was just opening and our insight into food preparation, presentation and customer service from our restaurant days helped make their transition go smoothly. In exchange, we enjoyed fine dining and wine on a paradise island at one of the best Hotel chains in the world.
A few months later, we again utilized our restaurant knowledge in exchange for rent in the beautiful mountains in Montana for a whole summer.
We have survived several Wall Street Market crashes during our retirement and came out on the other side. We made changes in our portfolio taking advantage of the downturns thereby strengthening our investments.
A few unexpected health challenges can turn you on your head, but again, we chose to make the most of medical tourism which was available to us, and we received excellent care.
When we want to lower our housing expenses we do some house sitting. We “get local” in every country where we live and pay the neighborhood pricing. There are all sorts of things you can do to maintain flexibility in your retirement, at any age.
It’s a good reminder to realize that there will always be ups and downs, years of market volatility, family issues, and unforeseen financial outlays.
The beach life is great, but everyday can’t be footloose and carefree. We just crossed ten thousand days of retirement and have had numerous challenges of one sort or another during this adventure. It could be delayed flights or road closures, perhaps poorly prepared food leading to tummy trouble or an overrun tourist attraction – which is no longer attractive to us.
We always try to have a Plan B and adjust.
If you are the sort of person who enjoys routine and prefers the predictable, you could experience anxiety and even fear when something comes up requiring you to make a change or take a new approach.
However, it is to your advantage to strengthen your “flexibility muscles.”
Why dig your heels in and make it harder on yourself? There will always be challenges in life no matter if you are retired or not. It’s better to roll with the waves than try to control the ocean.