Increasingly, many clients and prospects will reach retirement age looking for challenge and opportunity. Rather than trading work for leisure, increasing numbers find a way to phase out of existing occupations, seek “bridge” jobs, or even begin new careers.

While some workers retire from their long-term occupation and transition solely to sources of retirement income from retirement savings, pensions and/or Social Security—creating a simple planning scenario—others do not. Retirees might work for financial reasons, but many work for social or personal reasons, or self-fulfillment.

As workers approach retirement, they need to explore what retirement can be for them personally. A satisfying retirement is likely to include activities that encompass three approaches to happiness: pleasure, engagement and meaning. The more reflection, research and planning invested in designing life in retirement before an individual retires to incorporate this important aspect of retirement planning in addition to planning for their health and wealth, the more accurate the financial projections will be, and the more well-being the retiree is likely to experience.

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