Meet the TIAA Difference Maker 100 being honored for their work in their communities
Living Your Passions in Your Bonus Years
Get the latest financial tips and expert advice. Subscribe here for the W2W Newsletter
Posted by Kerry Hannon on Mar 3, 2017 6:47:09 AM
We’re living longer, healthier lives than any previous generations, and that’s a good thing. These “bonus” years after we retire give us the chance to pursue fresh or latent passion. They give us the chance to segue to self-employment, or to pay it forward and devote energy to a nonprofit with a mission that matters deeply to us. It can also be a holistic, patchwork quilt of all of the above.
But you have to dream to get there… and you need to plan. Learning to live your passion is a process. It’s part self-discovery, part active exploration and testing the waters. At the heart of it, though, is a strong financial foundation. When you’re financially fit, you’re nimble to try new things, to take an uncharted path, to take a leap of faith, to give yourself permission to take control of your future.
It’s never too early to start sketching out your blueprint to figure where it is you want to go and what you’ll need to get there. I advise women to start early, to imagine what it is they would like to be doing in 5, 10, 15 years. For many of us, it’s scary. We’re afraid, surprisingly, that we don’t really know what we’re passionate about. We haven't had time to do that soul-searching. That’s ok. It’s hard to envision a shift to a new you, when your identity is so aligned with the work you're doing today.
The good news is time time is on our side.
To me, it’s tantalizing and a time to pause, reflect and map a strategy. What’s next for you? What would pursuing a passion mean to you financially? What kinds of activities will keep you mentally motivated, physically fit, and socially connected to family and friends in your bonus years? For many, this may even include some kind of work.
Is there something you’ve always longed to do, but maybe other priorities got in the way, or you didn’t have the money to give it a go?
Watch the Webcast and I’ll walk you through a series of steps to help you discover your personal financial blueprint and create an actionable plan to turn what in your parents' lives were retirement years into “refirement” years.
Teachers Insurance and Annuity Association of America has sponsored Ask the Expert posts for informational purposes only. Many of the experts are unaffiliated with Teachers Insurance and Annuity Association of America, College Retirement Equities Fund, and their affiliates and subsidiaries (collectively TIAA), and TIAA makes no representations regarding the accuracy or completeness of any information on the posts or otherwise made available by the experts. Statements of external featured experts are solely their own and are not endorsed or recommended by TIAA.
Responses from experts to questions posed by Woman2Woman community members are intentionally general in nature and are not intended to give personal, financial, or specific advice. Some strategies are complex, and more information is often needed to determine the personal needs of a community member. We strongly recommend that you consult with a financial advisor before taking any action based on an expertʼs opinion or other information you obtain from the Woman2Woman:Financial Living site so that all of your personal circumstances can be taken into consideration. Participation in the site does not render the member a client of the expert or of TIAA.
This site is not designed to accept or respond to requests or complaints regarding specific TIAA accounts, products or services. If you wish to discuss an issue of that nature, please contact TIAA at 800 842-2252. TIAA is not responsible for any opinions provided by members of this site. TIAA is not responsible for the content or privacy policies of third-party sites to which you may link.
The TIAA group of companies does not offer tax or legal advice. You should consult an independent tax or legal advisor for advice based on your own particular circumstances.
The material and responses are for informational or educational purposes only and do not constitute a recommendation or investment advice in connection with a distribution, transfer or rollover, a purchase or sale of securities or other investment property, or the management of securities or other investments, including the development of an investment strategy or retention of an investment manager or advisor. The material and responses do not take into account any specific objectives or circumstances of any particular individual, or suggest any specific course of action. Investment decisions should be made in consultation with an investorʼs personal advisor based on the investorʼs own objectives and circumstances.
Experts may not have medical or scientific training. Any information related to physical or emotional health is not intended to be used in place of a consultation with a physician.
TIAA is not responsible for the statements of community members. We may link to posts made by community members only to direct you to topics that may be of interest to you. This does not mean that we agree with the opinions of these community members. Their statements are solely their own and are not endorsed or recommended by TIAA.