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The pursuit of happiness in retirement might be much more complex than you ever realized. In order to become what this article refers to as a “HROB” (Happiest Retiree on the Block), there are crucial financial and non-financial aspects to consider. Both areas are equally important, and if they work in tandem together, they can help you create a fulfilling future.

Money must-haves: A recent survey found three common financial traits amongst the happiest retirees. They include:

📌Having at least $500,000 in liquid assets (This amount will vary, based on what provides you financial peace of mind)

📌Having your mortgage paid off, or nearly paid off, when you step into retirement

📌Having multiple streams of income (More diversity means greater confidence that you can get through the bad times, such as a market crash or inflation)

Beyond dollars: The survey also revealed two critical habits happy retirees share that have nothing to do with money: Social connections and curiosity. Those who are curious about finding new core pursuits tend to live with elevated contentment, and in particular, individuals with four “hobbies on steroids” were the happiest. To create meaning and purpose in retirement, you have to focus on what you’re retiring to, versus what you’re retiring from. As the article states: “…becoming a happy retiree isn't just about having enough money to sleep at night, ‘but enough purpose to get up in the morning.’"

Aim for safe and secure: You should ensure you maintain significant liquid assets in retirement for maximized financial confidence, and in return, more happiness. However, I will emphasize that from my experience, this usually only creates more confidence if the funds are safe, as well as liquid.