Three R’s for a Fulfilling Retirement Rediscover, Relearn, Relive (2024)

FAQs

Three R’s for a Fulfilling Retirement Rediscover, Relearn, Relive? ›

Retirement, often mistaken as an end, is, in fact, a grand beginning — a fresh chapter to Rediscover, Relearn, and Relive. These three R's encapsulate the essence of a fulfilling retirement.

Therefore, as you consider ways you can support your clients as they prepare for retirement, determine to be proactive in nurturing their resiliency, resourcefulness, and renaissance spirit—three qualities that will help them to make the very most of every age and stage of life.

Reduce, reuse and recycle: The “three Rs” to help the planet

Reducing, reusing and recycling plastic is key in countering the devastation wreaked by climate change. Plastics are a major source of pollution on Earth.

The three R's – reduce, reuse and recycle – all help to cut down on the amount of waste we throw away. They conserve natural resources, landfill space and energy. Plus, the three R's save land and money communities must use to dispose of waste in landfills.

As financial planning tools, the RLS are designed to assist individuals in identifying elements of their preferred retirement lifestyle and provide insights into associated costs. The three levels show how people considered Minimum, Moderate and Comfortable living standards.

Retirement may seem like a distant dream, but it's never too early or too late to start planning. The “golden rule” suggests saving at least 15% of your pre-tax income, but with each individual's financial situation being unique, how can you be sure you're on the right track?

The 3% rule in retirement says you can withdraw 3% of your retirement savings a year and avoid running out of money. Historically, retirement planners recommended withdrawing 4% per year (the 4% rule).

Most people go through three stages of retirement: exploring, nesting and reflecting. In the first stage of retirement, while your health is good and you have goals to accomplish, you might travel the world, learn new skills, volunteer and take up new hobbies. Move to a new locale and/or purchase a second home.

What is the 3 bucket retirement strategy? ›

The buckets are divided based on when you'll need the money: short-term, medium-term, and long-term. The short-term bucket has easily accessible money, the medium-term bucket has money in things that generate income, and the long-term bucket has money in things that grow over time.

The so-called 4% rule is a formula that has been used for many years under which new retirees who want a reasonable chance to make their savings last for three decades withdraw at most 4% of their savings the first year they retire.