Three R’s for a Fulfilling Retirement Rediscover, Relearn, Relive (2024)

FAQs

What are the 3 R's of retirement? ›

Three R's for a Fulfilling RetirementRediscover, Relearn, Relive. When we think of the word 'retirement', images of relaxed beachside living or perhaps a peaceful cottage home might come to mind.

Reduce, reuse and recycle: The “three Rs” to help the planet

Reducing, reusing and recycling plastic is key in countering the devastation wreaked by climate change. Plastics are a major source of pollution on Earth. Unbridled manufacturing and low recycling rates of plastic products threaten our planet.

The three R's – reduce, reuse and recycle – all help to cut down on the amount of waste we throw away. They conserve natural resources, landfill space and energy. Plus, the three R's save land and money communities must use to dispose of waste in landfills.

In some cases, it can decline for months or even years. As a result, some retirees like to use a 3 percent rule instead to reduce their risk further. A 3 percent withdrawal rate works better with larger portfolios. For instance, using the above numbers, a 3 percent rule would mean withdrawing just $22,500 per year.

Embrace the 30X thumb rule: Save 30X your annual expenses for retirement. For example, with annual expenses of ₹25,00,000 and a retirement in 20 years, aiming for a ₹7.5 Cr portfolio is recommended.

One example is the $1,000/month rule. Created by Wes Moss, a Certified Financial Planner, this strategy helps individuals visualize how much savings they should have in retirement. According to Moss, you should plan to have $240,000 saved for every $1,000 of disposable income in retirement.

Most people go through three stages of retirement: exploring, nesting and reflecting. In the first stage of retirement, while your health is good and you have goals to accomplish, you might travel the world, learn new skills, volunteer and take up new hobbies. Move to a new locale and/or purchase a second home.

In the 3-bucket strategy, the short-term focus is on liquidity, the medium-term focus is on a balance between liquidity and returns, and the long-term focus is on wealth creation. You can get the required regular cash flow for monthly expenses in the short term and earn good returns on the corpus in the long term.

The three Rs are three basic skills taught in schools: reading, writing and arithmetic (the "R's" refer to, "Reading, wRiting, and aRithmetic"). The phrase appears to have been coined at the beginning of the 19th century. The term has also been used to name other triples (see Other uses).