How to have a better retirement

For some people, retirement seems like a blessing. Nothing but free time! For others, it can be a scary prospect. Nothing but free time? But it’s not as simple as that. Thinking about your ideal retirement is the most important stage of the planning process, and one that is often left out.

Begin by focusing on what you could see yourself doing after you stop what you’ve been doing for decades, says Phyllis Diamond, a retirement coach and therapist in New York City. “People spend more time planning a vacation than they do planning their retirement,” Ms. Diamond said. “You need to create a vision, so you don’t feel like you’re falling off a cliff.”

So, today, write out two lists:

Rank your priorities

What’s most important to you? (Include your spouse in this brainstorm.) Think about family, physical health, friends, service, travel, financial security and creative pursuits. For example, if you aim to get intellectual stimulation by taking classes or you want to babysit the grandkids, that may affect where you plan to live.

Is there a hobby or other activity that you would like to make part of your routine? Be realistic about how much time you will spend doing it, Ms. Diamond said: “Can you really play golf all day, seven days a week?

Make a ‘curiosity’ list

This is an exploration of anything you’ve ever wondered about but never pursued because “life got in the way.” One of the best aspects of retirement is that you will have time to dedicate to these interests. It could be a country you would like to visit. Or, perhaps, like Ms. Diamond, you played the cello as a child, and want to see if you might enjoy playing again (turns out, she didn’t).

The goal is to help you figure out what you will do with your time, so you don’t sit idle. Are you too far from retirement to have a long list? Keep a short one and add to it those interests that get pushed aside for work and family responsibilities.

These lists are going to help inform your choices when it comes to retirement planning and saving.

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