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.

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.

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). However, 3% is now considered a better target due to inflation, lower portfolio yields, and longer lifespans.

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 4% rule limits annual withdrawals from your retirement accounts to 4% of the total balance in your first year of retirement. That means if you retire with $1 million saved, you'd take out $40,000. According to the rule, this amount is safe enough that you won't risk running out of money during a 30-year retirement.

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). However, 3% is now considered a better target due to inflation, lower portfolio yields, and longer lifespans.

Some common retirement goals include: Set a retirement budget. Plan a milestone event. Prioritize wellness.

What do the three R's mean? ›

In the subject of sustainability: Reduce, Reuse, and Recycle.

Deploy your retirement corpus smartly with the 3-bucket strategy: liquidity for short-term needs, safety for medium-term balance, and wealth creation for long-term growth. You worked hard during your working years to create a retirement corpus.