Discussions about retirement planning often focus on financial matters – saving, investing, accessing retirement benefits. The non-financial aspects, are often ignored.

Retirement carries excitement, fun, and freedom but can also bring disorientation and disenchantment regardless of how much money one has. While finances are important, they are driven by the emotional, mental, and social human needs like belonging, family and purpose. All of these are non-financial in nature and make living bearable.

You must ask yourself some critical questions as you age and draw closer to retirement;

• Who will I be without my pre-retirement profession?
• How will I live without my employer identity?
• What will I do for over ten to twenty years in retirement?
• “Who will I spend my time with and where will I live?
• “What will be my purpose?”

Perhaps the most important non-financial consideration is to invest in relationships. Build meaningful relationships with trustworthy people who will come to your rescue when you need them. Protect yourself from self-seekers who want to take advantage of you. But this can only be achieved when you’re equally an honest person and have positively touched the lives of those around you.    

Apart from strong relationships, plan your estate, document your possessions. Be clear on how you want your family and loved ones to deal with your belongings when you’re gone. Develop an asset inventory to make it easy for people to support you when you are in your weak moments. People might want to support you, but they don’t know where to start. Don’t demean yourself by hiding all your properties and assets. You want to leave order, not chaos.

Develop your retirement planning around the 7-Fs framework which includes: Family, Firm, Friendships, Fitness, Fun, Faith and Finances. With such a framework, you will realise that retirement planning is much more than just finances.