How To Test Run Your Retirement This Summer – Pierson Wealth Management

Summer often brings images of relaxation, beach trips, and lazy days. For those nearing retirement, it can also be the perfect time to test-run what their retirement might look like. Here’s how to plan your trial retirement for this summer:
Define Your Goals
Do you want to travel more? Spend time with family? Pursue hobbies or interests you don’t have time for when working full-time. Having a clear vision of what you want out of retirement will guide your activities while taking a summer break.
Create a Budget
Retirement often comes with a fixed income from savings, pensions, or investments. According to the Bureau of Labor Statistics, people aged 65 and older spent about $52,141 in 2021. Use this trial period to create a budget based on your expected retirement income. This exercise can highlight areas where you might need to adjust spending or find ways to save.
Test Your Routine
Use the summer to experiment with different schedules. Sleep in if you want to, but establish a daily routine that includes activities you enjoy. This could be gardening, reading, volunteering, or exploring new hobbies.
Travel and Explore
Plan a road trip, visit family or friends in different locations, or simply explore your city as if you were a tourist. Does constant travel bring you joy, or do you prefer the comfort of home?
Engage with Your Community
Use this trial period to engage with your community in new ways. Attend local events, join clubs or groups that align with your interests, or volunteer for a cause you care about.
Assess Your Health and Wellness
Your health is perhaps the most important aspect of a happy retirement. Use the summer to focus on your well-being. Establish an exercise routine that works for you, try out different healthy recipes, and schedule any necessary check-ups or appointments. Pay attention to how you feel physically and mentally during this trial period.
Financial Review
Did your budget hold up? Were there unexpected expenses? This review will give you a clearer picture of your financial readiness for retirement.
Pierson Wealth Management is located at 28368 Constellation Rd., Ste. 396, Santa Clarita, CA 91355. Securities and advisory services offered through Cetera Advisors LLC (doing insurance business in CA as CFGA Insurance Agency LLC), member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. CA Insurance Lic# 0C92500.