Lessons Reinforced from 12,000 Feet
I just spent a week in the Rockies with my family. I am turning 60 next month and everyone was able to coordinate vacation time and travel plans to make it happen. I was not thinking about work during this time as I knew Bre and Alli had things covered. They knew how to get in touch with me if needed, but they didn’t have to because they are great!
My mid-September blog post was one of the things waiting for me upon my return. As I thought about different potential topics, I decided to share some photos and experiences from our trip and weave in some parallels to retirement planning. …Ok, maybe a bit of a stretch but let’s go!
Plan in advance – but keep it “fun and flexible”
Planning in advance is obvious for both a trip and retirement planning. Yes, I pulled out a spreadsheet with 2-hour slots down the side and days across the top. This helped capture all the hikes and activities we wanted to do but put them in realistic time slots. The key was to keep it “fun and flexible”. We had to switch our fishing one day earlier due to changing weather and the kids moved tennis early in the week when our timed-entry tickets didn’t come through. Same thing with planning – identify the “activities” want to do, slot them into rough time frames (sometimes which decade!) but adjust as life happens.
Explore the side trails
Curiosity is great to have, but sometimes time and required focus don’t allow you to explore. When on the hiking trails, it is important to stay on the main trail – not only for the ecosystem but to avoid that sharp cliff! But oftentimes checking out a side trail can lead to great things. This photo is me below Ouzal Falls after noticing a side trail when arrived, and able to stand just below the falls that others only saw at a distance. Be sure that curiosity stays with you in retirement also, and don’t be afraid to explore new trails as it will likely lead to great things.
Take on the challenge for the reward
One of my favorite lake hikes is Odessa Lake. The first time I hiked it we kept going to Fern Lake and ultimately a trailhead shuttle bus to get us back to the car. In addition to the beauty, it was mostly downhill. This time we planned to hike back from Odessa Lake rather than going on, which involved a steep climb back up. The “easy button” would have been hiking toward Fern Lake again, or skipping this hike altogether. But I decided to go for it and enjoyed the beautiful views. When it was time to return up the steep trail, I made it back up just fine despite my concerns. Don’t be afraid to try new things even if they seem scary. You will very likely love the views! These photos show us enjoying the lake view along with the steepness of the climb back up. As a quick aside, as I, my kids and godchild hiked, I would occasionally shout “Odessa!” and suggested the kids watch an old SNL skit called “Amazon Echo Silver”.
Make hay while the sun shines
One of the events we moved a day earlier due to cooler weather coming was our fishing excursion. My wife and son are actually the fishermen of the family but we all had a great time. This is part of being flexible, but use your extra flexibility to enjoy the things on your terms, when conditions feel best for you.
Adjust plans to mitigate risk – and still enjoy great views
Our first big hike of the trip was Flattop Mountain and then on to Hallett Peak. Our three kids and I had all hiked Flattop but one hadn’t done Hallett yet. As we approached 10,500 feet the snow began to appear from the previous night’s storm. The closer we got to the top of Flattop the heavy fog and clouds kept rolling in. We made it to the top of Flattop (first photo) but realized it would be too risky to continue to Hallett (peak sticking out of clouds). We still enjoyed the hike and had some amazing views overlooking Emerald Lake on the way down. For retirement, your environment may feel comfortable and ready to do something again, but always remain vigilant of changing conditions to your familiar territory and adjust plans accordingly if the risks appear too high.
Not all or nothing. Go! And enjoy as much as can with the resources you have.
A new hike we did the day after Flattop was Mount Ida. I knew I may not be able to complete the hike given two consecutive days of big hikes. But rather than not going at all, I went with the intent to enjoy as much as my resources would allow. And by resources I mean tired legs and sore knee! About 3 miles into the 4.5 miles to the peak, I realized I was holding the kids back in the colder tundra and it was time for me to turn around. They went on and (mostly) enjoyed the peak while I enjoyed my slower return and stopping for lunch at a scenic – and warmer – part of the trail. There may be things you want to do in retirement but feel you don’t have all the resources to enjoy like others are enjoying. Be sure to still enjoy them, just go as far as your resources allow and enjoy the journey.
Don’t forget your early wins… and recreate them!
My sister suggested we hike Deer Mountain 15 years ago when our kids were in grade school. It was a challenging hike for our first 10k’er with limited hiking experience. While the other hikes mentioned earlier are more challenging, I wanted to go back and hike Deer Mountain again with the whole family. Back to that flexibility theme, this hike was moved on our itinerary a few times, but we finally made it work the last full day of the trip. It was great fun, great memories, we ALL enjoyed the hike, and we even recreated the photo from 15 years ago with a child overlooking the valley from the peak. Enjoy the same thing in retirement, reaching out to old friends or going to old stomping grounds and savoring the memories - while living them again!
I hope you enjoyed my stories and pictures. Now that I’m finished, it wasn’t too much of a stretch relating hiking to retirement planning… and I got to share my pictures. Normally I close with “Reach out for help.” This time I will close with just “Reach out!”
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Posted by Kirk, a fee-only financial advisor who looks at your complete financial picture through the lens of a multi-disciplined, credentialed professional. www.pvwealthmgt.com