Ways to “Supercharge” Your 401(k)
Do an online search on “health benefits of a cold-water plunge,” and you’ll get over eight million results. Experts say the shock of sudden immersion into cold water can result in decreased inflammation, a rush of endorphins, spiked dopamine levels, and improved sleep and mood, among other benefits.
Ready to dive into an icy pond or a freezing shower? Over time, you may grow accustomed to the initial shock and even find it invigorating.
Similarly, retiring from a long-standing career at Johnson & Johnson can feel like that initial cold plunge. One day, you’re deeply involved in groundbreaking healthcare solutions, and the next, you’re waking up without a set agenda, contemplating how to fill your newfound free time.
The transition can be jarring, but fortunately, most retirements from Johnson & Johnson are well-planned. Employees often prepare years in advance, giving them ample time to ponder life post-J&J.
We’ve discussed elsewhere the practical aspects of preparing for retirement, such as financial planning, updating estate documents, and securing healthcare coverage. These are important “check-off” items, but what about the emotional or subjective issues?
Here are some questions to consider:
-
1
Are You Ready for a New Identity?
-
For years, your identity has been closely tied to your role at Johnson & Johnson. You’ve been a part of a team that’s made significant contributions to healthcare and well-being. In retirement, you have the opportunity to redefine yourself. Will you be a volunteer, a mentor, a grandparent, or a world traveler? The choice is yours, and it’s an exciting one.
-
2
How Will You Find Meaning and Purpose?
-
As a J&J employee, you’ve been part of a mission to improve healthcare and quality of life for millions. In retirement, how will you continue to find meaning and purpose? Whether it’s through philanthropy, advocacy, or spending quality time with loved ones, planning for this is crucial.
-
3
With Whom Will You Socialize?
-
Your career has provided a built-in social network of colleagues, clients, and industry professionals. In retirement, it’s essential to maintain social connections. Whether it’s through community groups, volunteering, or other social activities, human interaction remains vital.
-
4
How's That Bucket List Coming Along?
-
Retirement opens up a world of possibilities that were perhaps limited during your career. Whether it’s traveling to exotic locations, learning a new skill, or tackling a long-standing project, setting and achieving goals can provide a renewed sense of purpose and achievement.
-
5
What Legacy Do You Want to Leave?
-
Retirement opens up a world of possibilities that were perhaps limited during your career. Whether it’s traveling to exotic locations, learning a new skill, or tackling a long-standing project, setting and achieving goals can provide a renewed sense of purpose and achievement.
Retirement is a significant life transition, filled with both opportunities and challenges. By asking yourself these tough questions, you can prepare more comprehensively for this new chapter, ensuring that it’s not just financially secure but also emotionally fulfilling.
And if you don’t want to go at it alone, the experts at Cerity Partners are here to help.
Meet Austin Schreck
Austin is a Principal in the Cincinnati South office, where he assists clients in building out their financial plans and developing a path for them...Read more
Meet Austin
Cerity Partners LLC does not have an ongoing relationship with Johnson & Johnson and is not affiliated with or endorsed by Johnson & Johnson. Cerity Partners LLC and Johnson & Johnson are separate and unrelated companies. Cerity Partners LLC does not have a fiduciary relationship with any J&J Benefit Plan, it has not been engaged to provide services under or relating to any such Plan, it does not have an official or endorsed status as an advisor for J&J Benefit Plan participants, and Cerity Partners LLC’s advice has not been endorsed or approved by the fiduciary of any J&J Benefit Plan
Please read important disclosures here.
Related Reading
Retiring on Time
401(k) Planning for 2023
