When we’re thinking about either retirement, or the next chapter of our lives (whatever “what happens next” might hold!) there’s a number of things we can learn from the people who have come before you.

Over the years  I’ve talked to hundreds of people about planning for retirement and helped many eventually retire, and spoken to loads more whilst researching my latest book (which is out in 2025, but you can make sure you’re on the waiting list for here ) and interviewing loads of people for the What Happens next website. That’s why today I wanted to share 5 things you should definitely understand when thinking about making fundamental changes in your life, be that retirement or having simply “What happens next”

There’s a decent amount to think about when considering making a fundamental change to your life in this period…so many I could have come up with at least twenty more tips. However, I’ll save them for a future blog!

So today, let’s explore the five things I’d recommend you do when thinking about either retirement or the next chapter of your life…

Plan Early

Whilst I’ve been researching the What Happens Next book the most common recurring theme I come across time and time again is…

I wish I would have started planning earlier than I did.

This isn’t only about the financial elements of planning for retirement, it’s the elements that most people assume they’re just going to work out as they go on.

I’d be considering what balance you’re going to set yourself in this stage of your life. After all, you’ve got a real opportunity to focus on other elements of your wellbeing you might have neglected in this stage of your life. This might include spending more time with the people you love and like, taking up a hobby or pastime you’ve never had time to get involved in, learn a new skill or get healthier.

My experience however, is even with the clients who have planned the money…it’s more rare for people to plan the time. So, here’s the three questions I’d suggest you ask yourself…

“What’s your ideal day look like?”

“If you just had your best week ever, what components might it contain?”

“For next year to be your best year ever, what components would it include and in what proportion?”

The interesting thing about these questions is that there’s probably not an immediate answer and thinking about what you truly want might take a chunk of time. Then planning to make sure that when you move into the next phase of your life you include the answers you’ve given to the above questions will take a bit more time.

However, this will also allow you to make sure that instead of falling off the ‘retirement cliff’, you can slide into retirement successfully knowing that your time in the next chapter of your life includes elements of your ideal day, week or year.

So, take your time when planning for what’s next and don’t only think about the money, think about your overall wellbeing and how you want to spend your time.

However, it’s also naïve to not consider the financial factors…which brings me onto point number 2.

2) Know how much is enough

Often when clients come in and see me,  they initially assume that I’m going to talk about financial products.

My experience is decent financial planners next talk about products first. Initially they talk about what’s important to the client.

This often is a financial question, but one that’s a million miles deeper than a question about pensions and investments.

One that often hits the nail on the head from a financial perspective. This question is…

“Have I got enough?”

My recommendation is that if you’re planning retirement you need to answer this question.

“Enough” is different for us all. However, knowing the non-work income, and assets you need to be financially independent allows you one thing…

The choice.

Sometimes this is about the choice to stop work permanently. However often it’s not. Sometimes it’s about finding work you absolutely love. Sometimes it’s about giving time to charity or community. Often it’s about spending more time with people you love or like.

However, knowing your financial ‘enough’ gives you clarity and choice…and removes the anxiety and fear which can trap us in work we dislike and continuing the same patterns for longer than we need to.

However, whilst financial independence is one factor you should be clear on, I’d humbly suggest that it means very little without what I’m going to talk about next…

3) Health is wealth

It’s interesting. We can define wealth in a bunch of different ways. You can say that someone with great friends is wealthy, someone with a loving family is wealthy. You could argue that financial independence is wealth, or someone with a kind heart is often wealthy.

All those things are undoubtedly true. However, the key here is that we can do more of all of these things when we focus on our health and we’re less capable of doing those things when we don’t!

I read an interesting fact the other day. Whilst life expectancy sits at 82, healthy life expectancy in the UK on average sits at 62.

Now there’s two elements to consider here…

First, it’s thinking about the things we want to do whilst we’re healthy and make sure they’re part of our what happens next plan.

But secondly it’s looking at what we can do to make sure we’re as healthy as we can for as long and I’d suggest that focussing on three main factors is key.

Exercise, Nutrition and Sleep.

So, the big question on this factor is…

“If you agree that health is wealth, what do you need to change today to incrementally improve your health?”

However, sometimes we can’t do this stuff on our own…which brings me onto point number 4.

4) Get some help

16^th century English poet John Donne coined the phrase “No man is an island” and he was right…although as he’s from the 16^th century we might be able to forgive him mentioning the fact that “No woman is an island” either!

It’s been repeated time and time again. We are interconnected. We simply can’t live our lives without the help of others.

However, when it comes to potentially one of the biggest changes in our lives, retirement, we think a DIY approach is best?

Now, the reality is that it might be. You might have all your money ducks in a row, know what your purpose is and what you’re going to do with your time, are in really good physical health, have friends and community and have intellectual wellbeing.

The good news is there is plenty of help in all of these areas if you’re struggling…

Clearly you can see a financial planner to support you with the money, but I’m also talking about a lot more than that.

You can find a coach to help you work out what your purpose is in this chapter of your life.

You can get your intellectual wellbeing from a bunch of places, including something like the University of the Third age, an amazing voluntary group of lifelong learners.

You can get a personal trainer, or join a class with others if you want to exercise more…

…and if you want to improve your social and community wellbeing there’s plenty of help out there. I’d look at the website Meetup as a starter for 10.

The key here is not to suffer in silence and don’t suffer alone.

Be a Retirement scientist

My favourite phrase in the book that I continuously reference in the book “Desin your life” written by the brilliant Bill Burnett is “Rapid Low cost experimentation”.

Effectively you want to be, particularly in the early years of retirement or ‘what happens next’ is to be a scientist in your own life, trying stuff you’ve never had the time to attempt before.

The idea here is to try different stuff until you find something that you think really suits you…and do it before you take the jump, so you know that this is something you want to do

So, try an art class, or a dance class, or amateur dramatics. Start writing, or singing in a choir, or getting involved in the community. Do some consulting, or take on a trustee role or a non-executive directorship.

Try stuff until something sticks so you know that when you take the jump into retirement you have a decent idea of what you’re going to do with your time!

However make sure your friendships maintain strong. https://www.youtube.com/watch?v=VcNduPFIMl4 This video talks about the one simple thing to ensure that this happens.