There are so many decisions to make as you transition into retirement. How do you make the right ones so that you won’t regret them as you look back?
In her book 10-10-10: A Life Transforming Idea, author Suzy Welch described a process for making a decision when faced with multiple choices. She suggested thinking about the possible consequences of your alternative actions 10 minutes, 10 months, and 10 years from now. The 10-minute approach is your initial gut reaction. The 10-month and 10-year time frames are for your intermediate and long-term consequences. Then you weigh the consequences against each other to decide what to do.
This process may be overkill if your choices are obvious but helpful when not. Perhaps you’ll need to do some research in figuring this out – gathering data, spelling out and testing assumptions, and identifying options. What are the pros and cons of each option for the different time periods? What could happen and how would you feel?
As I contemplated my own retirement, I compared a life of leisure to a life of service to others. Clearly, I wanted some of both, but what would the consequences be with one emphasis or the other?
Here were my criteria for making decisions. I wanted to have activities that I loved, was good at, matched my core values, and would have an impact. And I wanted to be with people that I cared about.
In the short run, leisure would be more fun. But in the intermediate and longer time frames, a life of service won out – if I planned and chose my activities carefully to meet my criteria. I chose a mix of activities with the emphasis on service to others through my work and volunteer activities. I don’t anticipate having any regrets about my choices 10 or more years from now.
Your decisions – about what you do, where you live, whom you spend your time with, how you maintain or improve your health – will depend on your own values, experiences, skills, relationships, and resources.
How will you make your decisions about your retirement life? I wish you the best in choosing wisely.