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Is Retirement the Right Next Step for You?

Ryan Guth

Ryan Guth
Founder & CEO

Retirement Crosswalk

That magic number is coming – 65 – and your friends and family keep mentioning the “R” word – retirement. You know you’re financially ready to take the leap. We’ve helped you get there. But you might still be having some uncertainty as to whether full retirement – leaving your job or ending your career permanently – is the right move for you.

So what’s the problem?

Maybe the thought of doing nothing work-related each day just doesn’t sit right with you. Or perhaps you have an inkling that you won’t feel fulfilled once retirement arrives. After all, it feels like such a final step and you’re having a hard time picturing what your new life will look like.

But everyone should retire when they reach a certain age, right?

Well, maybe not.

Which one are you?

Throughout my years in the finance field, I’ve determined that there are three types of people in the workforce or – more accurately – three types of people considering leaving the workforce.

  • The “I LOVE my job” type is the person who gains purpose from what they do and may never stop doing it. This person isn’t obsessed with retirement but may eventually slow down a bit.
  • The “I’m good at what I do” person likes their job but doesn’t necessarily want to be beholden to Corporate America any longer so is willing to consider retirement if the terms are right.
  • The “get me the heck out of here” individual is the one who is counting the days until they no longer must go to work each day.
Working on Laptop

Most individuals can easily place themselves into one of these categories and, at that point, can ascertain their next steps.

The four pillars of retirement

If you’re on the fence about retirement, take a look at the four pillars of retirement. Based on a study by Age Wave, these pillars define retirement today. Indeed, especially with Covid still on our heels, there’s new thinking about how a person can not only plan for but live well during their retirement. It involves four factors: health, family, finances, and purpose.
  • We all recognize that it’s never too late to improve our health and to endeavor for our health-span to match our lifespan (i.e. the entire length of your life should be lived in good health). That’s something you can consistently work to achieve.
  • Finances tend to be the easy part. If you’re still uncertain about retirement, we’ll chat about ways to potentially make it happen sooner.
  • Family is a huge factor. Positive family relationships play an important role in a happy retirement as do social connections with those outside the nuclear family. 
  • Which brings us to purpose. In my opinion, this is the most important of the four pillars to consider. Purpose sustains you. It keeps you healthier and makes you happier. But many Americans report feeling worthless or useless during retirement, unable to figure out what to do with that huge chunk of time that’s now theirs to fill. As a result, some sink into depression while others simply become bored and uninspired. 
Retirement vacation Time

So, the question remains: Is it time to retire “cold turkey” or perhaps just time to ease off or cut back? It’s okay to NOT stop working if working gives you that purpose we all seek. You might, instead, opt for a three-day week if your employer agrees. Or if you’re a business owner, you might step back into a consulting role. Keep up the momentum but find a way to taper back so you can ease yourself into retirement and, while doing that, think about purposeful ways to spend your extra time.

We’re fortunate in that the pandemic provided many of us with a new sense of purpose. We have more clarity about how we want to live our lives, and that includes whether we wish to continue working. As a matter of fact, many individuals near retirement age now report better overall health, higher cognitive function, and more life satisfaction, simply because they’ve stopped to think about their sense of purpose and what keeps them fulfilled.

So, before you hand in that retirement notice or tell your staff that it’s time for you to call it quits, take some time to truly create your ideal picture of the future. If retirement is definitely in the picture, Guth Financial will help you put the financial pieces together.

If, however, you find purpose from your work, keep doing it. The “golden years” are different for everyone. Don’t think you need to follow “the norm” but, instead, do what’s normal for you.

Want to chat about your next steps? Don’t hesitate to reach out!


Securities offered through SCF Securities, Inc. • Member FINRA/SIPC • Investment advisory services offered through SCF Investment Advisors Inc. • 155 E. Shaw Ave., Suite 102, Fresno, CA 93710 • 800.955.2517 • 559.456.6109 FAX. • Atria Wealth Solutions, Inc. (“Atria”) is not a registered broker-dealer or Registered Investment Advisor and does not provide investment advice. SCF and SCF Investment Advisors, Inc. are subsidiaries of Atria. SCF, Atria, Charles Schwab, and Guth Financial are independently owned and operated.

Required Disclosures. Note The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Investing involves risk including possible loss of principal. No strategy assures success or protects against loss. To determine what appropriate for you, consult your financial advisor prior to investing.

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