When most people think about retirement planning, they picture spreadsheets, savings targets, and contribution limits. But the truth is, your life in retirement is about far more than just your money.
Many financial professionals focus exclusively on numbers — how much you’ve saved, how much you’ll withdraw, what your return should be. Yet, as financial planner Thiago G. likes to remind clients, “If your plan doesn’t account for what actually makes you happy, it’s not really a plan — it’s a spreadsheet.”
As a new year begins, he encourages people to rethink what financial planning really means. Yes, it’s about saving and investing wisely. But more importantly, it’s about aligning your money with your purpose — making sure your wealth fuels a life you actually want to live.
The Myth of “More”
It’s easy to believe that a bigger account balance automatically means a better life. But as one old real estate agent once put it, “You can buy a bigger house, but you won’t necessarily be happier inside it.”
The same holds true for retirement. At some point, the question stops being how much do I have? and becomes what am I living for? A fulfilling retirement sits at the intersection of two circles: what makes financial sense and what brings joy and meaning. The overlap — that sweet spot — is where the real plan begins.
Imagine a simple diagram: on one side, your financial responsibilities; on the other, your passions, purpose, and daily happiness. The goal isn’t to live entirely in one circle or the other — it’s to find balance in the middle. That’s where fulfillment lives.
Designing a Purposeful Retirement
For those nearing retirement, it’s not always realistic to dramatically change your financial situation. You can’t turn a million into five million overnight. But what you can change is how you use what you’ve built.
Ask yourself: if every day felt like Saturday, what would get you out of bed in the morning? Would it be travel? Time with family? Volunteering? Building something new?
Many retirees find joy in what Thiago calls “purpose income” — part-time work or side projects that combine passion and a paycheck. Maybe you consult occasionally in your field, teach a class, or turn a hobby into a small business. You stay mentally sharp, maintain structure, and still contribute — but without the grind of full-time work.
This balance often helps people avoid the emotional void that sometimes follows retirement. “We spend decades building skills,” Thiago says. “It feels strange to hang them up entirely.”
The Trap of Overspending (and Oversharing)
On the other end of the spectrum are retirees who treat the first few years like an endless vacation — splurging on luxury travel, home upgrades, or new toys, sometimes more for social media than for satisfaction.
That’s where financial discipline still matters. The biggest mistake, Thiago warns, is ignoring the long-term costs of health care and aging. “There’s a balance between enjoying today and protecting tomorrow,” he says. “You can’t predict every medical event, but you can plan for the possibility.”
This isn’t about cutting back on joy — it’s about pacing it. Think of retirement as a marathon, not a sprint.
Guardrails, Not Restrictions
For some, the idea of a “budget” in retirement feels stifling — as if it belongs to the years when money was tight. But Thiago reframes it differently. “Don’t call it a budget,” he suggests. “Call it a guardrail.”
A guardrail keeps you on the road while still giving you freedom to drive. It’s not about saying no; it’s about defining the limits that let you say yes — confidently. This mindset helps retirees stay in control without feeling deprived.
The Four Kinds of Wealth
Money, Thiago says, is only one form of wealth. The others are:
- Health — having the energy and vitality to enjoy your life.
- Relationships — investing time in family and friendships.
- Time itself — the freedom to spend your days as you choose.
- Financial security — the peace of mind that enables all the rest.
True wealth means protecting all four, not just the last one. Too often, people sacrifice their time and health to chase financial numbers that, in the end, can’t buy back what they’ve lost.
As Thiago puts it, “You can have a million dollars in the bank and still live a miserable retirement — or you can have a modest nest egg and a life full of joy, purpose, and connection.”
A Thought Experiment
Here’s an exercise Thiago often gives clients:
“Imagine I just wired you five million dollars. What changes?”
For many, the answer isn’t about buying yachts or mansions — it’s about time. More travel. More experiences. More freedom to do the things they already dreamed of doing.
That’s the key. If money wasn’t a barrier, how would you spend your time? Once you know that, you can design a realistic financial plan to support that version of your life — not the one society tells you to chase.
Redefining Success in Retirement
Some people claim they’re “bad at retirement” because they can’t sit still. They go back to work, not always because they have to, but because it’s what they know. But underneath that drive often lies a deeper need — the need to feel useful, valued, and relevant.
The happiest retirees, Thiago says, are the ones who discover new ways to contribute — without sacrificing their freedom. “Retirement isn’t the end of productivity,” he explains. “It’s the beginning of living on your own terms.”
Living Wealthy in Every Sense
Real wealth starts in the mind. It’s not about having the most, but being most content with what you have. Thiago recalls a couple who retired to a simple condo, drove an old car, and spent their days volunteering and writing letters to the local newspaper. “They were happier than many millionaires I’ve met,” he says.
Because in the end, retirement isn’t a race to accumulate — it’s a chance to appreciate.
So as you look ahead, remember: money fuels comfort, but purpose fuels joy. Plan for both. Live with intention. And when every day starts to feel like Saturday, make sure it’s a Saturday you truly love.
