Money Matters: How to transition into retirement
Today on Good Morning Northland, Barry Bigelow joined the show to offer valuable insights on transitioning into the next stage of life—retirement. He shared thoughtful advice on how people can embrace the new chapter with optimism and a forward-looking perspective.
Bigelow explained that many people perceive retirement as the end of something significant. “It’s not just the end of one thing—it’s the end of many things,” he said. Our identities are often intertwined with our work routines. Retirement can signal the loss of structure, daily commutes, work friendships, and regular interactions with colleagues.
While acknowledging that it’s natural to feel uncertain about retirement, Bigelow encouraged viewers to adopt a mindset of “retiring to something” rather than leaving something behind. He emphasized the importance of self-reflection during this life transition, urging retirees to ask themselves, “What am I going to be doing on a daily basis? Who am I going to be?” By exploring these questions and envisioning what the future could hold, he explained that individuals can shift their focus from dwelling on the past to embracing new possibilities. This shift can make the transition to retirement more fulfilling and meaningful.
Barry shared two key questions everyone should consider when thinking about retirement:
Where do I get my energy from?
- Retirement provides a unique opportunity to discover what truly brings joy and vitality—and to steer clear of what doesn’t. It’s a chance to redefine yourself and embrace the person you want to become.
What’s the money for?
- Think about the purpose of your savings. Is it to support the next generation, to fully enjoy your life, or to achieve something else meaningful? Clarifying this can help shape your goals and identity in this new phase.
Transitioning into retirement can be challenging, but Bigelow emphasizes that preparation is essential. By planning ahead, you can ensure that you have something meaningful to “retire to,” making the next chapter of your life both rewarding and full of purpose.