Sand Hill's Chief Investment Officer, Brenda Vingiello, CFA, made a guest appearance on CNBC's Closing Bell on April 27, 2023 to share her views onread more
Retirement: Who Am I Now?
April 22, 2021
It’s one of the biggest life events anyone can achieve. You’ve successfully navigated a long and fulfilling career and your reward awaits: the blissful stage of retirement. Remember that last final in college? That feeling of freedom and the thrill of the pending activities and opportunities? Many of my clients, however, feel great trepidation facing this new phase of life. They wonder how they will spend their time, find engagement in the world around them, and how much enjoyment they will really find in retirement.
Retirement can prompt major changes in your personal identity, your use of time, and relationships. For many of us, our careers and professional successes define us. So when your working life ends, it’s easy to begin wondering: Who am I now? How do I recreate myself and have meaningful experiences? What is my outlet for creative thinking and entrepreneurial spirit?
To begin to answer these important questions, the first exercise is a brainstorm. What is your mission statement for your retirement? And this may begin with articulating what you don’t want first. Identification of what you DO want is “where the magic happens”. For example, you may want flexibility, adventure, intellectual curiosity, etc.
Here are some questions to get those creative wheels spinning:
- Hobbies: For those lucky enough to have a compelling hobby or interest, retirement allows for a more complete enjoyment of that pursuit. But for many, long-ago hobbies have taken a backseat to careers and families. Consider what is an activity you once enjoyed, but don’t do anymore.
- Half-Retirement: In half-retirement, you have an opportunity to have the best of all worlds—continued income stream, flexibility and fun. Questions to fuel this thinking: What do I feel I’m good at? How have I helped other people in their success, health or happiness? What don’t people like to do that I actually like to do?
- New Pursuits: Try something new! Who or what inspires you? Is there a talent or expertise that you wish you had? What do you need to achieve it? Do you have your sights set on travel? Learn about the history of each destination. Take up a foreign language.
- Volunteering: If community service is “in your blood” or you expect you’ll find enjoyment in “giving back”, volunteering for a charity you wish to support may be a great use of your discretionary time.
- Find Your Community: Maintaining an active social life gets harder with age. And when we retire, we lose a good deal of our social network tied to the workplace. But the benefits are obvious: social engagements provide a sense of belonging and feed our personal identity. Friendships add meaning to life and strengthen self-worth. Look for a new community to engage with related to your hobbies, new pursuits or volunteer activities.
Retirement can and should look different for everyone because of our unique interests. I have a client who, in his retirement from a successful career as a doctor, is now in a master’s program for astrophysics. Another client chose to sell her apartment to see the country over many months and identify a next place to call home.
Retirement is not a phase that happens to you, you create it. Crafting the ideal retirement for yourself with great intention can be a lot of work but can be a very fulfilling phase of life. While the answer to “what brings meaning to my life” is different for everyone, more often than not, great meaning in life can be found in the relationships we have with other people.
Articles and Commentary
Information provided in written articles are for informational purposes only and should not be considered investment advice. There is a risk of loss from investments in securities, including the risk of loss of principal. The information contained herein reflects Sand Hill Global Advisors' (“SHGA”) views as of the date of publication. Such views are subject to change at any time without notice due to changes in market or economic conditions and may not necessarily come to pass. SHGA does not provide tax or legal advice. To the extent that any material herein concerns tax or legal matters, such information is not intended to be solely relied upon nor used for the purpose of making tax and/or legal decisions without first seeking independent advice from a tax and/or legal professional. SHGA has obtained the information provided herein from various third party sources believed to be reliable but such information is not guaranteed. Certain links in this site connect to other websites maintained by third parties over whom SHGA has no control. SHGA makes no representations as to the accuracy or any other aspect of information contained in other Web Sites. Any forward looking statements or forecasts are based on assumptions and actual results are expected to vary from any such statements or forecasts. No reliance should be placed on any such statements or forecasts when making any investment decision. SHGA is not responsible for the consequences of any decisions or actions taken as a result of information provided in this presentation and does not warrant or guarantee the accuracy or completeness of this information. No part of this material may be (i) copied, photocopied, or duplicated in any form, by any means, or (ii) redistributed without the prior written consent of SHGA.
All video presentations discuss certain investment products and/or securities and are being provided for informational purposes only, and should not be considered, and is not, investment, financial planning, tax or legal advice; nor is it a recommendation to buy or sell any securities. Investing in securities involves varying degrees of risk, and there can be no assurance that any specific investment will be profitable or suitable for a particular client’s financial situation or risk tolerance. Past performance is not a guarantee of future returns. Individual performance results will vary. The opinions expressed in the video reflect Sand Hill Global Advisor’s (“SHGA”) or Brenda Vingiello’s (as applicable) views as of the date of the video. Such views are subject to change at any point without notice. Any comments, opinions, or recommendations made by any host or other guest not affiliated with SHGA in this video do not necessarily reflect the views of SHGA, and non-SHGA persons appearing in this video do not fall under the supervisory purview of SHGA. You should not treat any opinion expressed by SHGA or Ms. Vingiello as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of general opinion. Nothing presented herein is or is intended to constitute investment advice, and no investment decision should be made based solely on any information provided on this video. There is a risk of loss from an investment in securities, including the risk of loss of principal. Neither SHGA nor Ms. Vingiello guarantees any specific outcome or profit. Any forward-looking statements or forecasts contained in the video are based on assumptions and actual results may vary from any such statements or forecasts. SHGA or one of its employees may have a position in the securities discussed and may purchase or sell such securities from time to time. Some of the information in this video has been obtained from third party sources. While SHGA believes such third-party information is reliable, SHGA does not guarantee its accuracy, timeliness or completeness. SHGA encourages you to consult with a professional financial advisor prior to making any investment decision.
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