By A.B. Ridgeway | The Ridgeway Report
You finally did it.
After 20, 30, maybe even 40 years of working, you’ve reached the “permanent vacation” stage of life—retirement.
But here’s the truth most people don’t talk about:
There can be trouble in paradise if you don’t have the right mindset.
As a financial advisor, I see the same mistakes over and over again when people first retire. On the surface, they seem small. But underneath, they can quietly derail your retirement if you’re not careful.
Today, I’m going to walk you through three critical things you need to do now that you’re retired—plus one bonus tip that ties everything together.
If you stick with me, I’ll give you a financial advisor’s perspective so you can increase the probability of having the retirement you’ve been dreaming about.
1. Make a Real Plan for the Next 20–30 Years
Yes, I know. “Make a plan” sounds obvious. I’m a financial planner, so of course I’d say that.
But this stage of life is different.
Most of your adult life was spent:
- Working
- Raising children
- Building a career
- Accumulating assets
Now… that identity is gone.
You are not the same person you were 20 or 30 years ago. And retirement is an entirely new stage of life that deserves intentional planning.
Why This Matters More Than Ever
With modern medicine and advances in healthcare, people are living longer:
- 85 is common
- 95 is no longer rare
- And many are reaching 100+
That means your money may need to last 20–30+ years in retirement.
So we need to answer questions like:
- How much will you actually spend?
- Is your house paid off?
- Is your car paid off?
- What are your true monthly expenses?
- How much income do you need to maintain your lifestyle?
This isn’t about guessing. It’s about knowing.
The 40-Hour Gap
And let’s not forget something just as important as money: your time.
You just gained 40+ hours per week.
- You can only sleep in so many times
- You can only visit the same restaurants so often
- You can only travel so much before it starts to feel repetitive
So ask yourself:
What am I going to do with my time?
This is where you lean into:
- Passions
- Hobbies
- Family
- Friends
- Purpose
Pick one thing you love and really pursue it. Don’t just “exist” in retirement—design it.
2. Redesign Your Circle (Your Social Network Matters)
For many of you, your identity was tied to your title:
- CEO
- President
- Vice President
- Manager
- Business owner
Your social circle was built around your career.
Now that chapter is closed.
Why This Is Critical in Retirement
As parents, we worry about who our kids hang around.
In retirement, you need to be just as intentional about who you spend your time with.
Here’s the reality:
- Your friends may still be working
- Your family may still be raising kids
- Everyone is not retiring at the same time you are
That means you can’t just call people at noon and expect them to be available.
But this does not give you permission to isolate yourself.
The Hidden Danger: Loneliness
Loneliness can lead to:
- Depression
- Emotional distress
- And unhealthy coping behaviors
For many retirees, that turns into retail therapy:
- Amazon purchases
- New gadgets
- New clothes
- Impulse spending
That quick dopamine hit can quietly sabotage your financial plan.
Instead, focus on:
- Building a strong social network
- Joining groups or communities
- Staying connected and engaged
Your circle will influence how you experience retirement—financially and emotionally.
3. Pace Yourself (Retirement Is a Marathon, Not a Sprint)
One of the biggest mistakes I see retirees make is hyper-spending in the first 1–2 years.
They finally buy:
- The RV
- The luxury car
- The motorcycle
- The dream vacations
- The toys they “never had time for”
And I get it. You earned it.
But remember:
You’re not retiring for 5 years. You’re retiring for 20–30 years.
Sequence of Return Risk (This Is Important)
In finance, we talk about sequence of return risk.
That simply means when and how you withdraw money matters just as much as how much you withdraw.
Example:
- You retire with $2 million
- You spend $1 million early on large purchases
- Now you’re working with $1 million
If the market goes up 10%:
- On $2 million = $200,000 gain
- On $1 million = $100,000 gain
It is very hard to climb out of that hole.
Add in:
- Market downturns
- Inflation
- Health emergencies
- Family emergencies
And suddenly, retirement can feel a lot tighter than you expected.
The Goal
Enjoy your life—but pace yourself.
Just like you had an emergency fund when you were younger, you need to maintain that same discipline in retirement.
Because even if you’re debt-free, it is still possible to run out of money.
Bonus: Get Help
You were great at what you did:
- Marketing
- Engineering
- Law
- Medicine
- Business
- Operations
But most likely, you were not trained in retirement income planning.
And that’s okay.
Your job now is not to be the expert in everything.
Your job is to protect what you worked your entire life to build.
When you combine:
- Proper planning
- A strong social circle
- Controlled pacing
- And professional guidance
You dramatically increase your probability of success in retirement.
Final Thoughts
If you can master these three things:
- Plan your next 20–30 years
- Redesign your circle
- Pace yourself financially and emotionally
You will have the mindset needed to enjoy the retirement you deserve.
Ready to Talk About Your Next Chapter?
If you’ve recently retired—or you’re getting close—and you’re looking for a financial advisor who understands both the numbers and the life transition, I’d love to speak with you.
👉 Click the link below to schedule a consultation.
https://calendly.com/abridgewaywm/consultation
Let’s talk about your goals, your plans, and how to make sure your “permanent vacation” stays permanent.
About the Author
A.B. Ridgeway, CPWA® is the founder of A.B. Ridgeway Wealth Management and host of The Ridgeway Report. He specializes in helping retirees and pre-retirees create reliable income, invest with clarity, and make confident financial decisions.
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About The Ridgeway Report:
As Christians, we were taught to be good stewards over our tithing and giving to the less fortunate. But when it came to our personal finances and investing we were left clueless on what the Bible says. What does the Bible say about managing debt, leaving a legacy, investing, and planning for your retirement? Mr. Christian Finance answers these and many other questions because we want to teach you how to become rich and righteous!
Meet A.B. Ridgeway:
A.B. Ridgeway, MBA, CPWA®️ (info@abrwealthmanagement.com) is the owner and Christian Financial Advisor with A.B. Ridgeway Wealth Management. With a decade in the finance industry, his goal is to give believers clarity around the most confusing topic in the Bible, money, and tithing. A.B. Ridgeway helps tithing Christians become cheerful givers but unlocking their money-making potential, so they can prosper and be the great stewards of the wealth God has entrusted them with.
*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
*Some elements in this blog was created, restructured, edited or summarized by AI and may have altered from the original content. Warning: There may be errors that were creating during this transition that were not in the original content. Please double check all information.
