408: Goal-Setting in Retirement: The Power of Creating a “What I Don’t Want” List
Dec 15, 2023
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The podcast discusses the importance of goal setting in retirement and the concept of a 'What I Don't Want' list. They explore the significance of setting meaningful goals, using the P's index to achieve peace, understanding tendencies, and shaping one's current reality. They also highlight the importance of prioritizing personal happiness and peace for effective goal setting.
Setting goals in retirement requires identifying both the things you want and the things you don't want, shaping your goals effectively.
Inversion, focusing on what you don't want, can be a powerful approach to goal setting, helping you set guardrails and avoid pitfalls that hinder progress.
Deep dives
Setting Meaningful Goals in Retirement
Setting goals in retirement is crucial for clarity and fulfillment. It's important to identify both the things you want and the things you don't want in order to shape your goals effectively. By listing 25 things you want and 25 things you don't want, you can gain a clearer understanding of your desires and priorities. From these lists, circle five things you want and five things you don't want that are most significant to you. By blending these elements together, you can create a focused intention for your goals. Additionally, writing your own obituary can provide further clarity on what you want and don't want in your life, helping you make decisions that align with your values and desires.
The Power of Inversion in Goal Setting
Inversion, focusing on what you don't want, can be a powerful approach to goal setting. By identifying the things you don't want, you can set guardrails and avoid pitfalls that may hinder your progress. It's important to establish specific filters or principles for your goals, determining what truly matters to you and aligning your goals accordingly. For example, instead of just focusing on positive fitness or nutrition goals, consider what you don't want, such as sacrificing joy or becoming obsessed with routine. This approach helps you navigate the journey towards your goals purposefully and with greater clarity.
The Five P's Index and Goal Setting
The Five P's Index, consisting of purpose, place, provision, people, and physical health, provides a framework for goal setting in retirement. Start by evaluating your level of peace in each category and identifying areas that may need improvement. By understanding your own tendencies and patterns of behavior, you can set more meaningful and fulfilling goals. The Five P's Index helps you prioritize and align your goals with what truly brings you peace, allowing you to lead a well-rounded and purposeful retirement.
The Importance of Recognizing the Present in Goal Setting
Goal setting should always start with a recognition of the present moment. Prioritizing self-reflection and understanding what brings you peace now is essential before setting future goals. By focusing on what you want and don't want, you can navigate present realities and make choices that lead to a more desired future. External influences and societal expectations should be minimized, and the goals you set should align with your own values and aspirations. Taking these steps helps you establish goals that are truly meaningful and authentic to your unique journey.
This week's retirement reading is from Mr-Stingy.com titled, The “What I Don’t Want” List. Listen in as Casey Weade breaks down the article and shares what he thinks! Today's episode can also be accessed by visiting RetireWithPurpose.com/408.
Sifting through the copious amount of conflicting financial advice and retirement information can be daunting - but it doesn't have to be! Each week, Casey makes it super easy. He hand-picks 4 of the most important articles you need to read, that are beneficial to you whether you're at, near, or in retirement! If you want them sent straight to your inbox, sign up by visiting RetireWithPurpose.com/weekend-reading
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