Mentoring For Retirement - A Personal Story by Robin Wong
Robin shares his advice for retirees - “The Best is Yet to Come”
I am an executive coach. I have been developing business leaders for the last 12 years. Prior to becoming a coach, I was a corporate executive at a conglomerate with businesses in entertainment, manufacturing, trading and internet ticketing. I also worked for a long period of time with a global financial services company as the Head of Operations for North Asia. My other working experience covers management consulting, business acquisition, executive search and operations management. It is my passion for personal growth that has prompted me to become a coach and a mentor.
From my experience, there are two main groups of retirees.
1. Something is Missing
For the majority of people, the first few months are very exciting. Many will go traveling and enjoy their newfound freedom. There are no more urgent calls and crisis meetings that require their attention. After the first few months, a sense of loss might start to surface. This is quite common, particularly for those who have been very active in the corporate arena. Their previous challenge and purpose seem missing. As most of their time is spent at work, they have not cultivated meaningful relationships outside of work. They may also have underestimated the needed fund to sustain a quality lifestyle. The cost of living plus medical expenses can be substantial as life expectancy expands. Most government social security does not provide adequate coverage. Many will need to be more cost-conscious in their future spending. Adding these up, the prospect can be daunting.
2. The Best Time of My Life
The other group is more fortunate. They have planned well ahead prior to their retirement. They view retirement as an opportunity with the freedom to choose what they want. Many took up new skills and hobbies where previously they did not have the time to learn or undertake. Some make use of their knowledge and expertise to continue in part-time roles as there are many commercial as well as non-profit organizations that need part-time professionals to help out in various tasks. Many find new purposes
Some suggested retirement tips:
It is important to go through a self-discovery journey and take a deep dive in understanding yourself by asking soul searching questions:
• What is it that you want?
• How would you like to be remembered?
• What is your personal mission?
• What does success mean to you?
• Once you know the answers, you can map out a meaningful retirement plan.
“ What is it that you want”? Not many can give a definitive answer. We are so busy dealing with external matters that we often overlook the spiritual and emotional aspects of our well-being.
Before retirement, people might not have time to try out new hobbies such as singing, playing the guitar, golf, diving, martial arts and a new language. The best approach is to step outside of your comfort zone in areas that you have not been previously exposed to. Don’t always settle in what you have always been doing. You certainly do not need to take up too many activities. Finding one that you are truly passionate about, can be sufficient.
Be Healthy - Physically, Mentally, Spiritually and Emotionally
One cannot be happy if your health is deteriorating. It is important to exercise consistently and have a daily wellness routine. One great habit is to do exercise in the morning. There will be fewer excuses and distractions not to do it. Depending on your fitness level, choose an exercise that is most suited to you. Even walking 30 minutes every day will work wonders.
You are as healthy as what you eat. One beneficial piece of advice is to drink a large glass of warm water first thing in the morning. In today’s informative environment, you can get all the knowledge that is needed to be in optimum health. Many people who are in their 80s are still enjoying an active lifestyle. Get involved with community work. This will enable you to form a meaningful relationship with others. Joining a society with like-minded people will enable you to meet a diversified group of acquaintances and friends. There are many sports such as yoga, tai chi, hiking, swimming, singing that you can choose which can help you towards a healthy and spiritual lifestyle.
Be Financially Prudent
People often say “Money is not everything”. However, the cost of retirement is expensive. Few people think about financial planning when they are young. Warren Buffet often quoted on the power of compounding i.e. the amount of money that can be generated through cumulative interest. Once you have enough passive income that exceeds your daily expenses, you are financially independent.
Save up a portion of your monthly income for investment early in your career. The life-changing book “Rich Dad Poor Dad” by Robert Kiyosaki has successfully prompted many people to explore different financial independence options.
Investing does not need to be complicated. A broad index fund, for example, is a well-tested approach to accumulating wealth over an extended period.
Meaningful retirement is not easy. You need to work on it. You will experience setbacks with many ups and downs. Sometimes you do not know what you want and question your own ability and self-worth. You are not alone if you have such feelings. Setbacks are not failures rather learning experiences. This will make you resilient for future successes.
“Is It the Best of Time or the Worst of Time?” It is a personal choice. It is important to leverage your knowledge and experience to good use. Take good care of your health and find new options in life for a great retirement.
Why should you find a mentor or find one? Taking up a mentorship with Pushfar will give you the opportunity to meet new people, share new ideas and become the best version of yourself. Finding a mentor or mentee, can help you achieve all of the recommended advice mentioned above.
Have a fantastic and happy retirement!
Robin Wong is an executive coach and mentor with expertise in leadership development and personal growth. Before his current position, he was a CEO with an established corporation with diversified business interests in the areas of trading, manufacturing, apparel, entertainment and internet ticketing. You can learn more about him here.