The “traditional” definition of retirement is changing. While there are still large flocks of snowbirds looking to spend their winters soaking up the sun and playing golf in places like Florida and Arizona, there are growing numbers of those who simply aren't content to lounge on the beach.

Planning for retirement is about more than just saving money. The goal is to create the financial freedom to choose how you want to spend your retirement, in whatever way that may be.

If you haven’t already, you may want to ask yourself the following questions as you plan for retirement:

• What can I do to find purpose now that I’m no longer working?
• How will I replace the sense of accomplishment I get from work?
• How will I spend my time?
• Where do I want to live?
• What’s my “Plan B” if I’m bored after I retire?
• Where can I find a sense of community?
• What do I want for my legacy?

If you aren’t thinking about how you’ll spend your time in retirement, it’s time to change the conversation.

How to Find Purpose in Retirement

Your work and career may have been tied closely to your identity for years. It gave you a sense of purpose and social connection. A job well done gave you confidence. Without this identity, you may feel like something is missing.

An often-ignored aspect of retirement planning is planning for your post-work identity.

The idea of discovering a new identity—or capturing something that may have laid dormant inside you all along—might seem daunting. But it can be made easier by including your financial advisor in the process. After all, they work with retirees all day long and may be able to offer precious insight that can point you in the right direction.

To help get you started thinking about how to live a purposeful life after retirement, here are some ideas:

Focus on Relationships

Maybe you want to spend more time with children or grandchildren. Perhaps you let work get in the way of friendships and now have more free time to be social. Maybe you now have the time and the means to see siblings or other family members who live out of town or out of state.

Retirement can be an excellent opportunity to focus on spending time and making memories with the people you love. So often, we let work and other obligations get in the way of being with the ones we care about. Making time to nurture relationships, build new friendships, and strengthen familial bonds can be one of the most fulfilling aspects of your retirement.

Give Back to the Community

If you haven't thought much about how you'll spend your days in retirement, you may want to consider volunteering. Thousands of charities and non-profits across the country can always use a helping hand.

Dedicating your time to helping others can give you a sense of purpose, create a feeling of belonging, and help you keep things in perspective. Volunteerism and philanthropy can help cement your legacy, and it can also just be a great way to get out of the house and stay active in your community.

Additionally, look for opportunities that allow you to use the skills and talents you built throughout your career. If you’re an architect, you may volunteer with a non-profit that builds low-cost housing. You may volunteer at a no-cost clinic if you're a medical professional. Maybe you can help prepare meals at a homeless shelter if you love cooking. If you love working with kids, perhaps you can work with children as a tutor or big brother/sister.

Helping others is a laudable goal. And once you decide how to be charitable with your time, you can make it a sustainable one.

Cultivate a Passion

While many find fulfillment throughout their careers, some wait until their golden years to follow their dreams and do what they’ve always wanted. With a sudden surplus of free time on your hands, cultivating a passion in retirement may leave you feeling energized and motivated.

If you're an artist, maybe now is the time to dive headfirst into your art. Unburdened by the shackles of work, perhaps you now have the time to focus on your hobbies like cooking, woodworking, restoring old cars, or gardening. Maybe now is the time to start working on that novel you’ve always wanted to write.

Everyone has a passion in life, and now that you’re retired, it may finally be time to pursue yours.

Return/Continue to Work in Semi-Retirement

Studies have shown that 85% of Boomers are willing to work into their 70s or even 80s. Some work longer because they need to for financial reasons, but others do it simply because they want to.

The employment landscape is changing, and there are suddenly more options available for retirees looking to continue their employment in some capacity. Maybe you want to return to your old job in a mentor or contract role. Perhaps you find the flexibility of gig works appealing. Maybe you like the idea of phasing into retirement by gradually reducing your hours and responsibilities over several months or years.

Start Your Own Business

You might also decide to cultivate a passion, but you also want to keep working. Retirement could be the perfect time to start your own business finally.

What you need to keep in mind, however, are the financial implications of your self-employment. Tax planning will likely be your biggest concern, as you need to understand how your various forms of income will be taxed. If you need capital for your self-employment endeavor, make sure you have enough to start your business, but be careful that you don’t overextend yourself so much that it affects the rest of your retirement.

Essentially, the goal here is not to get blindsided by anything. If your passion is in an industry with which you're unfamiliar, there could be nuances to tax law or special regulations you don't even know about. As the saying goes, "You don't know what you don't know," so make sure you consult a tax specialist or financial advisor before you start your self-employment journey.

What Does It All Mean?

Maybe you recognize that your mentality about retirement has changed, but has your retirement planning and preparation? Now is the time to clarify your goals and ensure you have the retirement income to support them.

It can feel overwhelming, but you’re not alone. The advisors at Wealth Enhancement Group are here to guide you so you can retire confidently and ensure that whatever you do in retirement gives you peace and fills you with purpose.