Budgeting
Planning & budgeting
Saving & investing
KiwiSaver
Tackling debt
Protecting wealth
Retirement
Home buying
Life events
Setting goals
Money tracking
Plan your spending with a budget
Getting advice
Studying
Get better with money
What pūtea beliefs do you have?
How to save your money
How to start investing
Find a financial adviser to help you invest
Your investment profile
Compound interest
Net worth
Types of investments
Term deposits
Bonds
Investment funds
Shares
Property investment
How KiwiSaver works and why it's worth joining
How to pick the right KiwiSaver fund
Make the most of KiwiSaver and grow your balance
How KiwiSaver can help you get into your first home
Applying for a KiwiSaver hardship withdrawal
How to use buy now pay later
What you really need to know before you use credit
How to get out of debt quickly
Credit reports
Know your rights
Pros and cons of debt consolidation
Credit cards
Car loans
Personal loans
Hire purchase
Student loans
Getting a fine
What happens if I start to struggle with moni?
How to protect yourself from fraud and being scammed
About insurance
Insurance types
Insuring ourselves
Wills
Enduring powers of attorney
Family trusts
Insuring our homes
Losing a partner
Redundancy
Serious diagnosis
How to cope with the aftermath of fraud
Separation
About NZ Super
This year's NZ Super rates
When you’re thinking of living in a retirement village
How to plan, save and invest for retirement
Manage your money in retirement
Find housing options in retirement
Planning & budgeting
Saving & investing
KiwiSaver
Tackling debt
How to use buy now pay later
What you really need to know before you use credit
How to get out of debt quickly
Credit reports
Know your rights
Pros and cons of debt consolidation
Credit cards
Car loans
Personal loans
Hire purchase
Student loans
Getting a fine
What happens if I start to struggle with moni?
View all
Protecting wealth
Retirement
Home buying
Resources
Videos
Podcasts
Just wondering
Help with the cost of living
In need of financial help
Booklets
Glossary
Blogs
View all
So we had a bit of fun putting the word out and getting people’s ideas for what to call the three different stages of retirement.
See, many of us tend to think of retirement as a single stretch of time beginning when you ease up working and every day becomes the weekend. It’ll stay that way until the end, right?
Not quite – there are broadly three main stages of retirement that roughly correspond to ages 65–74, 75–84, and 85 plus. And they’re really quite different, so it helps to consider this when you’re planning for what are “the choice years” – a fantastic time of life, although with a lot of choices to make over what could be two or three decades.
The first stage is when we have a go at all the things we’ve always wanted to: travel, hobbies, an active lifestyle. In the second stage we consolidate and slow down a bit, with a focus on the simple things. The third is a time to reflect and keep up with the most important relationships in life.
So what to call them? Here’s one of the more entertaining ideas that people came up with: the “go-go years”, the “slow-go years” and the “no-go years”. Then there is my personal favourite: “free time”, “more time” and “overtime”.
But without further ado, here are the more official names of the three stages: “Discovery”, “Endeavour” and “Reflection”.
What’s important to know is that your spending needs won’t be constant during these three phases, but more in the shape of a V. People start with spending more on their activities during Discovery, ease up as they slow down during Endeavour, then once again ramp up their spending as they need more support during the Reflection years.
The more we think about these different stages, the easier it becomes to think about how much work our money will need to do for us and plan accordingly.
What’s with insurance in 2024? Five things to do when your premiums surge
1 Comment
My Money Sorted: Gordon
1 Comment
Guided by Matariki, it’s the perfect time to think ahead
1 Comment
Job loss? 6 steps to bounce back from redundancy
1 Comment
My Money Sorted: Jaelyn
2 Comments
5 steps to get your $521
3 Comments
Use verification code from your authenticator app. How to use authenticator apps.
Code is invalid. Please try again
Don't have an account? Sign up
Or log in with our social media platforms
A Sorted account gives you a personal dashboard where you can save your tools, track your progress and you'll also receive helpful money tips and guidance straight to your inbox.
Or sign up with our social media platforms
Comments (0)
Comments
No one has commented on this page yet.
RSS feed for comments on this page | RSS feed for all comments