The Honeymoon Phase
The Honeymoon phase is a time when “exploring our freedom” is brand new. However, just as a newly married couple must navigate the transition from single life to living with a spouse, there is an adjustment period. The primary questions include:
What is the role of work in our lives?
For a growing number of people, the term “Retirement” is a turn-off, and doesn’t accurately describe their aspirations for life. An increasing number of people want to have their cake and eat it too: they desire a life in which they are able to continue working, but on their own terms and at their own pace.
Where will our income come from?
Financial security is an important part of these years, and nobody wants to run out of money as they get older. Many fear leaving the work force, unless they have confidence that they can sustain their lifestyle without working. It may be difficult to establish a budget, which may become increasingly important. This also requires a new investing tool kit, as Explorers have spent most of their lives accumulating wealth, and now need strategies for distributing that wealth in the form of a monthly income.
How will our Family Dynamics change?
On one hand, many people have hopes that they will now have more time and resources to enjoy time with their children and grandchildren. However, one or more adult children may live in a different city or state, or many even have multiple children in multiple locations.
On the other hand, many people entering this stage of life feel that they want to be close to their kids, but not too close.. Although adult children may be grown, that does not necessarily mean that they are financially self-sufficient, or even that they have moved out of the house yet.