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Retired Military Finances 201: What to Do When Your Ultimate Retirement Goals Change Thumbnail

Retired Military Finances 201: What to Do When Your Ultimate Retirement Goals Change

Retirement Funding Managing Your Finances

Retirement strategy is a bit like a military operations plan. You can have an objective and plan in place and then you make contact with the enemy and your plan changes. Reality is the enemy in your financial plan. There will be changes, no matter how many branches and sequels you've explored.

Maybe you envisioned a quiet life in the countryside but now find yourself drawn to the vibrancy of city living. Maybe health concerns have prompted a reassessment of how you want to spend your golden years. Perhaps you decide that you want to continue working (after all, 57% of Americans expect to work after retirement).1

Whatever the reason, changing retirement goals is not uncommon, and the key lies in how we adapt to and navigate these new waters.

How to Embrace Change in Post Military Retirement, Retirement

It's essential to remember that changing your retirement goals doesn’t mean you’ve failed. It means that you’re willing to adapt and create a retirement that works for you. So, if you find yourself in a situation where the retirement you once imagined no longer aligns with your current desires, here are some steps to consider:

Reflect on Your New Priorities
Before making any drastic changes, take some time to reflect. What has prompted this shift in your retirement goals? Is it a newfound passion, a change in health, a desire to be closer to family, or something else entirely? Understanding the root cause will help you make more informed decisions moving forward.

Review Your Finances
Changing retirement strategy can have financial implications. If your new goals involve a different lifestyle, location, or activities, reassess your financial situation. Consider consulting with a financial professional to understand how these changes might impact your savings, investments, and retirement income.

Adjust Your Retirement Strategy
Once you clearly understand your new priorities and financial situation, it's time to adjust your retirement strategy accordingly. This might involve updating your retirement budget, reallocating investments, or exploring new income streams. Be flexible and open to making changes that align with your revised goals.

Stay Flexible
As you navigate these changes, remember to remain flexible. Life is unpredictable, and strategies may need to be adjusted along the way. Embrace the journey and be open to new opportunities that may arise.

Prioritize Your Health and Wellness
Regardless of your retirement goals, prioritizing your health and wellness is crucial. Make sure to include healthcare costs and considerations in your revised retirement strategy. Stay active, eat well, and attend regular check-ups to ensure you can fully enjoy your retirement years.

Communicate with Loved Ones
If your new retirement goals involve significant lifestyle changes, it's important to communicate openly with loved ones. Discuss your goals with your spouse, family, or close friends. Their support and understanding can make the transition smoother.

In the end, retirement is not just about reaching a destination; it's about embracing the journey. Life is full of twists and turns, and our goals and aspirations will naturally evolve over time. By staying adaptable, proactive, and true to your passions, you can create a retirement that reflects the life you want to live.

Military Finances are Different

As a military retiree, you have an excellent pension and other benefits. That makes planning for your ultimate retirement significantly different than planning for your civilian counterpart's retirement. That is why we think you should work with a Financial Planner or Advisor that works with Active and Retired Senior Military Officers and NCOs each and every day. If you'd like to find out how we work with people just like you, use the button below to schedule a free initial consultation.

If you found this article useful, you might like the following blog posts:

Retired Military Finances 201: Test Run Your Ultimate Retirement this Summer


Retired Military Finances 101: The Unexpected Costs of the RV Lifestyle


Retired Military Finances 301: A Guide to Beginning the Business Succession Process




  1. https://www.retireguide.com/retirement-planning/statistics/

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