Redefine your lifestyle

The day you retire, do you plan to suddenly stop doing all the things that make you happy? Unlikely. Can you imagine retirement as a time not only to continue doing the things you like, but also to take on fresh challenges? We're guessing yes.

What would you like to do — and where?

What activities, for you, make life worth living? For many people approaching retirement, the list is fairly long.

So the question is: How many of these activities can you build into your retirement? Unless you can already answer in detail, you might spur further thought by considering the following:

• Will you want to stop working altogether? Or continue working, maybe as a business owner, consultant, part-timer or freelancer?
• Will you maintain your current lifestyle after you retire? Should you consider scaling back? Moving to a smaller home or to an area with a lower cost of living?
• Would you rather live near the ocean? In the mountains? In a warmer or cooler climate? Closer to family or friends?
• Are there things you've wanted to do for years but were too busy to attempt? Things like:
  • Learning another language
  • Traveling to the places where your ancestors lived
  • Restoring an old house, or an old car
  • Doing charitable work
  • Volunteering for a political party
  • Obtaining an advanced degree, or a pilot's license
  • Teaching your grandchildren to fish, fly a kite or ride a bike
• Would you be happier focusing on one primary activity? Or doing something exciting and different each day?

At first these questions might suggest new questions, rather than answers. That's all right: you're about to begin a whole new phase of life. You owe it to yourself to consider all the possibilities.

How will you make your dreams possible?

While you're thinking about the activities that will make your retirement most enjoyable, you might want to give some thought to how you're going to support this new phase of life.

That's why you may want to discuss these types of questions with an Ameriprise financial advisor. A financial advisor can work with you to define what your retirement will look like. Then, by understanding your current situation and unique goals, your advisor can develop a financial plan and recommend a solution to help you reach your financial goals.

But it's not just about the money — it's peace of mind. According to the 2006 New Retirement Mindscape^® study, retirees with a written financial plan are much happier in their retirement than those without a plan and pre-retirees with a financial plan anticipate having a more positive retirement.