How to Plan for a More Active, Purposeful Retirement

If your retirement vision doesn’t quite fit the traditional “golden years” narrative of golfing, gardening, and grandparenting, you’re not alone.

Workers of all ages are increasingly embracing the idea that retirement can be just as exciting and fulfilling as any other phase of life. Maybe even more so.

According to the third annual Everyday Wealth in America report from Edelman Financial Engines, 37% of respondents said they want a retirement that looks different from previous generations.

• 42% want something more active
• 39% want something more adventurous
• 24% want to be more nomadic, or less tied to one location
• 37% want to be more ambitious about pursuing passion projects

Those numbers reflect a growing recognition that retirement doesn’t have to adhere to one fixed formula. You don’t have to slow down if you don’t want to. You can explore new paths—literally, through travel—or rediscover goals and interests that may have taken a back seat over the years.

So how can you prepare for a more dynamic retirement?

At Octavia Wealth Advisors, we’ve never believed in one-size-fits-all retirement plans. Whether your goal is to slow down and relax after decades of hard work or to turn up the lifestyle dial to eleven, your plan should reflect your unique vision and values. We want our clients to feel confident about spending their retirement years in a way that feels meaningful to them.

But a more active or unconventional lifestyle may require a more flexible approach to retirement planning, especially when it comes to income.

How Will You Fund Your Retirement?

If you’re like most Americans, your retirement income may come from several different sources: Social Security, your investment savings, a pension, and in some cases, an inheritance. You may even decide to keep working in some capacity—perhaps consulting, starting a business, or taking on a fun part-time job. In fact, a 2024 Fidelity study found that 68% of respondents look forward to working in retirement for the enjoyment of it.

Source: Transamerica Center For Retirement Studies. Figures may not total 100% due to rounding.
Note: Self-funded savings include 401(k), 403(b), IRAs, and other investments.

Knowing your full financial picture—how much you’ll have, how much you’ll need, and how to tap your income streams in a way that preserves your nest egg—is a key part of comprehensive retirement planning.

Be Ready to Rethink Your Withdrawal Strategy

The old 4% rule for portfolio withdrawals doesn’t always reflect how people actually spend their money in retirement, especially those who hope to embark on a bold new chapter.

A phased-in approach may be a better fit for a retirement plan that evolves over time from:

• The go-go years, when you’re more active and likely spending more; to
• The slow-go years, when you’re still out and about but maybe taking your spending down a notch; and
• The no-go years, when you’re less active because of health or lifestyle reasons and reducing your spending.

The good news is that there are multiple strategies to choose from to help you manage your income throughout these phases. Your Octavia wealth advisor can help you understand what would work best for your needs, and when it might make sense to draw money from different accounts—like a 401(k), Roth IRA, or brokerage account.

Prepare for Retirement Risks and the Rewards

You’ve probably heard a few cautionary tales about people not saving enough for retirement or spending too much when they get there. According to the 2025 Annual Retirement Study from the Allianz Center for the Future of Retirement, nearly two in three Americans (64%) are more worried about running out of money in retirement than about death itself.

That’s why it’s important to consider how each decision might impact your short- and long-term goals—from when you retire and when you claim Social Security to how you invest your portfolio and plan for healthcare needs. Retirement is a journey that might last 30 years or more, so planning for taxes, medical and long-term care costs, inflation, and market fluctuations is imperative.

But at the same time, underspending can also put a damper on how much enjoyment you get out of retirement.

By taking actionable steps today, you can help ensure that your retirement is shaped by your ambitions, not your fears. Careful planning can help you achieve the retirement you’ve worked so hard for—and that includes having enough money for challenging and fulfilling new experiences.

Let’s talk about how to bring your vision to life. Schedule time now with your Octavia wealth advisor to start planning your dynamic next chapter.