ST. CROIX INSIGHTS

Financial Simplicity – becoming empty nesters

BY BRETT ANDERSON/ST.CROIX ADVISORS, LLC

Sometimes even the shoemaker needs new shoes. With my kids getting older and one living in Texas, our life continues to change as the kids get older. One thing I’ve noticed as the kids get older, so do I. Aging is a privilege but I’m not a fan of getting old and at times I think I’m in my late 20’s (you can stop laughing!). Even I want financial simplicity for my family and myself. As we are planning for our life without kids (full-time) it causes us to evaluate what we want to achieve, what type of lifestyle we seek and the decisions we need to make around that.

Selling and moving from our family home. I suspect for most parents this so much more emotional when you sell your family home. Probably many more happy memories with the birth of your children, birthdays, Christmas, first day of school and finally graduating from high school. I don’t think I’m different from anyone of my clients, you no longer need that bigger home and its time. I just can’t believe how much “stuff” you can accumulate over the years. I believe this is a great time to simplify how much “stuff” we truly need and most importantly use. I suspect I use 15% of my stuff 80% of the time. I’ll be having a moving sale to offload stuff at great prices.

More free time for yourself and your spouse. New or revisiting hobbies. Getting used to spending time and reengaging with your spouse. For many couples I meet with, this is probably the scariest thought of their retirement years. Can we actually spend time together? Can we spend time together without the kids let alone not talking about them? Can we bring back the magic we once had when we first dated? After 30 years with kids and now without kids, are we going to be compatible?

I’m a big believer in creating a dream board. A visual display of things you’d like to accomplish together and/or separately. Maybe it’s travel, spending time with family, learning new stuff, taking a college class, or being impactful in your community. The ideas are endless. Sometimes your dream board might a big idea and you wonder how you will accomplish it. That’s half the fun of a dream board.

We can simplify our life no matter what stage we are in and it becomes especially easier when we become empty nesters. Investing a little time in thinking, dreaming and focusing, allows us to even enjoy our lives more.

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