You may remember your first day at school, going to university, first love, getting married, new home, having children. All these are undisputedly major changes in our lives, which can bring about enormous change. But retirement is possibly one of the most stressful and life-changing events that can happen to us in our lifetimes.

There is a belief that most people work toward and look forward to these retirement years; if you’re in a job you don’t enjoy, poorly paid, in bad health or a role that is physically and emotionally demanding, then that’s completely understandable. However, for most of us, who feel we are still productive members of society, reliant on our earnings to fund our desired lifestyles, the reality can be a little daunting.

We spend all those years saving and budgeting, mostly for this major turning point. Far from feeling relief and escape from the treadmill of working life or the responsibilities of running a business, having free time most days can be very unsettling. It can help if instead of you retiring from something you retire to something and prepare what you want to do; how you are going to achieve it and whether you have the resources.

Five tips for a richer life

1. Decide what it is you really, really want from the rest of your life.
There are no rules about what this should be. The important thing is to focus on what your wants, hopes and dreams are.

2. Work out the cost of your desired lifestyle and any major expenditure for the next two to three years.
Crucial to the success of your retirement is understanding how much money you need to make it happen.

3. Gather information about what you have and own: property, savings, investments, pension plans and insurance, as well as what you earn and what you expect to receive in retirement.
Having a sense of the whole picture makes the next planning steps go smoothly.

4. Assemble all this information using various assumptions for inflation and growth rates, to create a cash flow analysis which will determine whether you can achieve your objectives or if there is likely to be any shortfall.
The cash flow analysis is the key to a successful retirement plan

5. Enlist the help of a qualified and experienced Certified Financial Planner™ who can do this all for you.
There are myriad benefits to be had by trusting this process with a qualified professional.

This is just another chapter of your life and you have the chance to write it. It’s your choice. Either you make your life happen and have a richer life that is well lived, or just let it happen to you. Which would you prefer? Having a financial plan that is built around your goals can help you to do this.