7 steps to creating a fulfilling retirement

The idea of creating a fulfilling retirement can be very abstract. Just where to start, for example? Or how to decide between different opportunities? In this post we suggest taking a step-by-step approach that will give you time, space and thinking room to map out a course to embrace life and new opportunities post-career.

When thinking about retirement, or in fact any stage in life where we are looking for change (or had change forced upon us), it’s tempting to begin with a list of activities related to what we currently do.

For example, after a corporate career, the first things that come to mind may be many of the usual suspects – corporate boards, private equity roles, government service, perhaps write a business book …

Take a step back

But before you get set on a particular course, it’s a good idea to take a step back to think about the future more broadly and from the more fundamental perspective of your individual purpose and fulfilment.

The twists and turns toward a fulfilling life post-career will be different for almost every individual. In many cases you will need to re-orient your inner compass and sense of purpose so that you find the new opportunities and challenges that will truly fulfil your aspirations for this new period in your life – and enjoy the journey along the way.

1. Start with you

Step out of your present lens on the world. Looking through the lens of the present inhibits your ability to see the full spectrum of future possibilities. If you don’t look beyond your current work life, you may not anticipate or explore your true wants and needs in the next phase.

A lack of creative thinking about the future can cause you to miss out on activities that you may have found beneficial and genuinely rewarding. Forget about who you are and what you’re doing right now.

To start working on the next chapter of your life, you need to turn the page.

Rather than trying to maintain your current ‘standing’ or concept of yourself as you enter this next phase of your life, focus on a fundamental reappraisal or reimagining who you are. 

Ask yourself questions like: What brings me joy? What do I truly value? What are my essential strengths and weaknesses? What do I want to achieve now in my life? What is my legacy?

2. Begin early

If you fail to plan, retirement can feel like falling into thin air. You may also have less opportunity to explore low-risk interactions that allow you to learn more about what you really want, and to plant the seeds of new, valuable relationships. This always helps you gain the time and headspace necessary to become comfortable with your future.

It’s good to start thinking and planning at least two years or so before you finally take the plunge. Use this time to set up lunches and dinners with people you know who have already navigated the transition into retirement. Make contact with people you know, or via friends of friends, who might be helpful in evaluating possible future opportunities.

This can help you begin to replace any fears and uncertainty with facts and knowledge. A terrain mapped is somewhere you can set your bearings and bring your thoughts together into a strategic retirement plan.

3. Embrace the blank canvas

Don’t get overwhelmed by the number of options and possibilities available. After decades of pursuing specific objectives within the context of an organisation, of having a clear structure to your days and often limited time, suddenly you can find yourself looking at a blank sheet of paper. The initial sense of liberation can give way to overwhelm.

Having too many choices can lead to decision fatigue, reverting to default options, or even avoiding making a decision altogether.

Locate your 'north star'

By surfacing what really matters to you now, at this stage in your life, you can use these new perceptions as a ‘north star’ to guide your decision making and help you evaluate options.

This can also act as lens to filter out appealing but inappropriate courses of action. For example, an engagement at a holiday destination may be inviting and a great fit for your skills but if a key value is to make a difference in your home town this opportunity would not take you where you want to go (literally in this case 🙂).

Your filters can help you learn about the things that interest you and find the opportunities where you can have most impact, for yourself and for others.

4. Think widely and variously

Don’t be afraid to veer away from traditional options. When making plans about what to do next, it’s natural to start with a list of the usual suspects, such as non-exec positions and a cruise. But before making any long-term commitments, extend your thoughts, and your list, to include other, varied paths.

Do you finally want to write that novel, play at some open mic nights, learn a new language, make that bucket list journey you always promised yourself? Maybe stay in touch with your professional life but now as a mentor or coach for start-ups or young leaders?

Do you want to travel and live a month every year in a new country, or buy a small farm or vineyard, or just relax and enjoy a quiet life far from the city?

So many possibilities, most of which can be varied and adjusted to the level of funds you have available. But all need some thought and planning to pull off, to make space for.

5. Build a new network

When you retire or stop working for your current company you will often find you don’t retain many of your professional relationships and network of friends from work. Relying on your old network can mean you don’t focus on the critical task of building a new one. You have to consciously create a new network of contacts and friends.

You may have been able to rely on work contacts for a lot of your social life. Leaving work inevitably means you leave many contacts behind. It’s time to get out there and make new contacts.

Be a joiner

You may have got used to your existing way of life and got out of the habit of trying new things. Now is the time to change all that and thoroughly reassess and branch out from your ‘normal.’

Join multiple groups or communities and see which ones resonate with you for greater involvement. Contact friends and acquaintances further along the retirement journey and learn from them. Reach out to others with similar personal or professional interests and/or join an established network that facilitates interaction and creates opportunities for meeting new people and trying new things – give serendipity a helping hand!

Look through your address book, especially for those you haven’t been in contact with for a while. Renewing old friendships or investing in new ones can open up paths to valuable and unexpected opportunities that can enrich your life.

6. Don't make hasty decisions

You may be used to a fast pace and hectic activity, but don’t rush into commitments just because the opportunity is in front of you. Sometimes things work out, but mostly this leads to significant, misaligned commitments that are painfully difficult to unwind.

And don’t panic even if you haven’t made plans and been thinking about what you want to do – as per advice in step 2. Few of us actually all that we know we’re ‘supposed’ to do. The initial phase of retirement provides a great opportunity to test the water, try out things, and learn more about potential opportunities – and learn more about yourself.

7. Be proactive

Don’t wait for the phone to ring, go out and search for the best, most exciting and rewarding opportunities that reflect your aspirations.

Designing a fulfilling retirement lifestyle requires going out to look for and uncover potential opportunities, but also making sure that opportunities can find you. Stay connected, even though your first instinct may be to unplug.

Being proactive in your plans and in your search increases the number of opportunities that come your way, increases your chances of success, and helps to build your confidence and avoid becoming stuck in roles (whether work related or socially) that you don’t like.

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Today’s concept of retirement is quite new and distinct from traditional ideas, and marked by the desire to create a diverse range of activities and engagements that keep us active, engaged and excited to make a meaningful and positive impact in the world.

Taking these steps towards designing your post-career life will help to make the transition smoother and more enjoyable. It may even lead to this being the most fulfilling stage of your life yet.