Finding Purpose Beyond Retirement (The CHI Concept)

Be one of a kind with Mike's Plan.

Welcome to the One of a Kind Financial Show with your host, Mike Milligan. Today it's Monday, October 20th. Here we are on the home stretch, just a little less than 2 weeks before Halloween. And, uh, I want you to know that you're one of a kind. There is nobody as unique as you are, and your uniqueness needs to be shared in this dark world Every day. Just a little more about why I believe that. We have a financial company called One Oak Financial. The one oak is not about a tree. It's about a nut. It's not about acorns. Most people get that because oak represents longevity. We're about being one of a kind, and One Oak Financial is here to create one-of-a-kind financial plans for your one-of-a-kind life. So, uh, recently on the One of a Kind Financial Show, Gary and I spent some time talking about what happens when you actually retire. What does that post-career look item and what are your values. Here I also, I reintroduce the idea of retirement cheat concept found in the One of a Kind Financial Planning book that's available on amazon.com. Enjoy this segment where Gary and I dive deep into what values you should hold dear as you enter retirement.

For decades, your life was shaped by work schedules, deadlines, and responsibilities. So when retirement hits, that structure vanishes And for a lot of people, so does the sense of purpose. The truth is retirement isn't just a financial transit— transition. It's a total lifestyle redesign. Today, we're talking about how to build a post-career that's driven by values, filled with purpose, and aligned with what truly matters, from how you spend your time to how you spend your money. Our first question: why do so many retirees feel lost even when they're financially secure, Mike?

Well, it's common. The spreadsheets look good, but 3 months into retirement, the novelty wears off. My good friend, Tom Hegna, says that every day in retirement is a Saturday. And it's so true because what do you do on Saturdays? That's when you go to Home Depot and that's when you go play golf and that's when you go out to eat. But after 3 months of Saturdays, 90 different Saturdays, more than a year's worth of not having purpose or something to do, Man, it just, it just doesn't feel as good. So you have to have structure and direction. Without it, time can become more of a burden than a blessing.

Yeah, you need to, you need to figure out what you're going to do each day and this way get up with a purpose because you're kind of lost if you don't, Mike.

Yeah, because, uh, retirement, um, you don't, you don't go to retire to escape. You go to retirement to use your time for more purpose-driven pursuits. Just because you're retired doesn't mean you're dead. You need to go out and have a vision for what retirement's going to look like. We talk about that in the One of a Kind Financial Plan book. We talk about having your retirement CHII, where CHII stands for your community, health, and impact. What is your community going to look like? Who are you going to spend the most time with? How are you going to focus on your health to be able to live healthy and strong through the rest of your life? And then what is your impact going to be? So, retirement can be one of the best eras of your life if you put vision and purpose behind it.

Let me ask you this. So, is there a sweet spot between busyness and boredom? And how do you find that sweet spot?

Well, some retirees, and you listen, 26 years of working with clients. So, this is firsthand knowledge, folks. Some retirees overschedule themselves with volunteer work, travel, or grandkid duty, while others just sit in that recliner all day taking 4 or 5 naps. See, neither extreme leads to contentment. So, you have to have a well-balanced retirement schedule. I mean, think about your workdays for a minute. You wake up at 6:00 AM, maybe you have breakfast and coffee right away. Maybe you go for a walk. Then by about 7:30, you start getting ready to work so you can be into the office by 8:30. At work, 8:30 to 12:00, you get some meetings done. 12:00 to 1:00, you go to lunch. 1:00 to 5:00, you finish out your workday. 5:00, you pack up, you go home. Then you have dinner. You talk about your day with your spouse, maybe take your dog out for a walk, maybe talk to your kids on the phone. Then you start reading and then you drift off for the night. Well, that's a workday, right? That's a workday. Well, retirement, like the many people I talk to, is if they wake up and when they want to, they maybe skip breakfast. Maybe they go out and see some guys at coffee once a month or Rhythm, the rhythm of retirement is so important. And if you don't create the rhythm that balances staying in community, focusing on your health, and creating an impact, if you don't create some rhythm there, then you are drifting aimlessly. But if you overschedule yourself, you're also going to be tired and worn out. And that's not what retirement is supposed to be.

Yeah, you don't want to do that either. The show is the One of a Kind Financial Show. I'm Gary Nolan, your consumer advocate, with us each week at this time. Is Mike Milligan. Let's get you on the calendar, get you all set up with that comprehensive plan, that one-of-a-kind financial plan that Mike's going to talk about in just a couple of minutes. And here's that phone number. Get ahold of Mike this weekend, 800-748-1838, 800-748-1838, or text the word ideas to 600-700. One more time on the number, 800-748-1838, or the word ideas to 600-700. How can couples design a retirement together and not just coexist?

Folks, what I'm getting ready to say is going to blow your mind. And this is not— this is Mike saying this, but this comes from the wisdom of some clients, Kathy and Lynn, who are going through retirement right now. Because recently in a client meeting with them, I said, what are you guys going to do now that you're spending all your time together? And Kathy said, Mike, it's an all-new marriage. Now, they've been married for 42 years, Gary.

Wow.

But when they retired, they said, it's an all-new marriage for us because, you know, our marriage before has been, you know, it was, uh, we had the era of parenting and being married. We had the era of working and being married. Now we have the new marriage of being retired and married. He said, so it's brand new. And she goes, we are on our 3rd honeymoon together.

Nice.

Because we're realizing that yes, we're going to spend more time together, but we're also going to realizing that we're different than we were 42 years ago. And so how you design it together is you come in it with the right mindset. Is it something new? And marriages can be renewed every day, right? I mean, you can renew your relationship with your person if you come in with the right attitude. So, you design your retirement together by realizing that it's a new part of a continuing long relationship. See, Gary, some people in life want the same experiences, the same experience with 1,000 different people.

Sure.

Exactly.

Some people, some people want 1,000 different experiences with the same person.

Interesting, Mike.

Right. And so like when you go into retirement and you've, you've been together for 40, 50 years, you want— it's just new experiences with the same person and you have to design it together. Gary, we've talked about gray divorce. We talked about it last week. We talked about it 6 weeks ago or 8 weeks. And like, we don't want you to go into marriage and then all of a sudden find yourself hating the person you're married. Think of it as something new. And when you think of it as something new, people love new shiny things. And marriage together, retirement and marriage together is a new thing.

Wow. Exciting. Interesting concept, Mike. Absolutely. So a couple of minutes left. So how do faith and calling shape your vision for retirement?

Well, the Bible never stops talking about retirement, but it— or the Bible never actually talks about retirement, right? Because in biblical times, you know, people They lived and they died.

That's what the Bible talked about.

It's just not thick enough to talk about the golden years, but it does talk about legacy, stewardship, and rest. See, Proverbs 16:9 reminds us, the heart of a man plans his way, but the Lord establishes his steps. And so, you have to, in this whole idea of retirement CHII, community, health, and impact, faith is often found in the community aspect of a retirement vision. Because some people want to go and have a men's Bible study on Tuesday, maybe the women get together on Thursday, you know, you wake up Sunday morning. Other people, like, in their religious walk, it's more about the religion of like just being in harmony with people. But listen, um, there's, there's many people who listen to our show that have a very deep and strong faith about their life, and there's others who who have deep, strong convictions about other ways to live. The key, though, is to realize that when it comes to retirement, what you're ultimately— the next thing after retirement is legacy. So, just like you build from your working years to retirement, retirement is building from the retirement years to your legacy and how you're going to be remembered. And that's why we put together the one-of-a-kind financial plan for people.

Yeah. Tell us about that plan, Mike. We got about a minute or 2 left.

So, the One of a Kind Financial Plan, guys, I wrote the book on it. You could find it on Amazon right now. If you just go and search the One of a Kind Financial Plan Amazon, there's a 175-page book that actually tells you my thoughts, my deep thoughts on it. But the practical application of it is that we build a vision for retirement that's centered around your community health and impact. And then we get into the nitty-gritty, we get into the details, which are planning taxes so that where if you passively allow taxes to just be looked at after the fact for you, you're going to pay more taxes than you should. But we look at tax planning as the way to reduce the largest expense you're ever going to have in your life. Then we secure your retirement income because guaranteed retirement income, just like paychecks while you were working, allow you the flexibility To live life on your terms while also reducing fear and anxiety. We then look at the investment portfolio, but guys, because investments are such a critical part of it, but we look at it from a standpoint of reducing fees and making sure the risk is right for you. Then we build a long-term care strategy for you and a legacy strategy because, you know, you are unique folks, every one of you. Everybody listening is unique. And we already thank you for the calls who've come in so far. But we invite you now to call into us because we want to set a time with you so that we can build a one-of-a-kind financial plan for your one-of-a-kind life.

And here's the good news, folks. There's no cost, there's no obligation to get a better handle on your financial situation. Call right now. The folks at One Oak Financial standing by, ready for your phone call, 800-748-1838. 800-748-1838 or text the word ideas to 600-700. You deserve a more confident plan to retire. Want to be stress-free? Peace of mind starts by picking up the phone. 800-748-1838 or text the word ideas to 600-700.

One last message from our compliance team. As a reminder, Mike Milligan, Certified Financial Planner, is an investment advisor representative of Advisory Alpha, LLC, an SEC-registered investment advisor. All opinions expressed by me, Mike, or any Any podcast guests are solely our opinions and do not reflect the opinions of Advisory Alpha. This recording is for informational purposes only, should not be relied on solely for investment, tax, or legal decisions, and it's in no way intended to communicate or guarantee specific performance or suitability of any security instrument or product as we may have discussed. Investment advisory and financial planning services offered through Advisory Alpha LLC, a registered investment advisor. Insurance products are provided by Ideas by Mike, a licensed agency located in Norfolk, Virginia, and licensed to do business in all 50 states. While tax and legal issues may be discussed in the general course of financial and investment planning, Advisory Alpha does not provide tax or legal services. Please consult with your tax or legal professional prior to making decisions related to these issues. If you want us— an appointment with Ideas by Mike or One Oak Financial, please reach out via our website. This podcast is produced in conjunction with Mike Milligan, LLC.

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