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Have you ever owned a dog so good, you felt unworthy? The Brothers family had a black Lab we simply didn’t deserve. Hanson was the perfect companion. He followed us around just to be in the same room.

He was well behaved and never left the property. He was the best athlete in the house, especially in any body of water, and would have been an incredible hunting dog (if I’d been a hunter). His favorite walk was on the trail at Ancil Hoffman Park in Carmichael. That walk included a trip to the American River, where he could show off his swimming skills and ability to retrieve a stick of almost any size, thrown as far as humanly possible into the river. 

Well into his 12th year, Hanson still had not a single gray hair. As we would begin a walk, you could see his hips giving him some trouble. But once we got to the river, age was of no concern. He would find a stick. I would toss it five or six times. We would head back to the truck.

That return walk would be very different from the walk to the river: Hanson was on a mission. He would carry that stick (sometimes 3 feet long) all the way, with great pride. People actually stopped us to take pictures of him and his huge stick. The hips that were bothering him on the way out now worked perfectly as he carried his bounty back to the truck. He walked like a dog half his age, with purpose. 

Maybe dogs and people aren’t all that different, because the same dynamic exists for many in retirement. Study after study indicates that people who live a life that involves a passion or purpose do better over time than those who rely solely on leisure to pass the time. That purpose might be a job, a volunteer opportunity, coaching, or caring for a family member or grandchild.  

This is a dynamic we talk about as part of the financial planning process, because we have seen people flounder a little bit when they transition into retirement. Men especially don’t realize how much of their self-esteem is wrapped up in their jobs and the relationships that exist through work. That is not to say the “sabbatical strategy” doesn’t work, where someone “retires” to travel and decompress for a year, with a plan to re-engage in a career or passion after 12 months. But in general, we have been witnesses to the fact that having a reason to get up each morning increases your odds of a successful, healthy retirement.

In my 30-plus years providing financial advice, I’ve worked with many people who have reframed retirement in order to make it work for them. Here’s what I’ve learned: 

You can redefine retirement from “stop working” to “having full control over my calendar and my work assignments.” The freedom that retirement promises can be thrilling, but it can also get boring without goals to work toward or a schedule to define the day, month and year. Keeping the door open for future projects can be the best of both worlds for some. 

You may be able to negotiate an “offramp” from full-time work, which can include specific duties like consulting or mentoring younger executives. These part-time contracts can last for years and are a good way to test the waters and see if a full retirement will work for you, or if you want to continue working in some capacity. It also can provide better closure to a career, with more time to pass the torch of knowledge.

Before retiring, you can join the board of directors of an organization you feel passionate about. Perhaps you will find a job or unpaid role that will satisfy your need for mission and meaning in your retirement years. 

Write a “pre-mortem.” Imagine yourself on your deathbed. What are the feelings you want to feel at that very moment: peace, completion, self-respect? Now, what can you do over the next 3-5 years to ensure the feelings you want on your deathbed? (For more on this, read “Know What Matters: Lessons from a Lifetime of Transformations” by Ron Schaich.)

Find out if your friends are retiring. Will you have friends who can travel, play golf and enjoy lunch with you on your new timeline? A life of leisure is best shared with good friends — they prevent us from going stale.

We lost Hanson last year. The walks to the river simply aren’t the same. But Hanson never “retired.” He was collecting sticks the last week of life. Clint Eastwood once said, “I get up every day, and I don’t let the old man in.” To keep the “old man” out, I prescribe a purpose, a passion or a great stick from the banks of the American River. 

Kelly Brothers is a financial advisor with CAPTRUST in Sacramento. He is also financial advisor for KFBK radio and KCRA – Channel 3. He hopes to retire someday but currently has two kids in college!

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