Retirement Habits

Key Takeaways

  • It takes an average of two years to turn a behavior into a permanent habit.
  • Your money habits during the first few years of retirement are especially important in setting the tone for the rest of your retirement.
  • Be intentional in setting good habits from the start.

You’re probably well aware that car insurance rates for young people are very high. This isn’t surprising, given that they’re inexperienced and more likely to get into accidents. They may be able to drive a car, but there’s a difference between that and really knowing how to drive a car. They have to think about split-second decisions, whereas an experienced driver does so automatically.

As it happens, it takes about two years to really learn something well and turn behaviors into permanent habits. In line with this idea is a recent article, which addresses how the first few years of retirement spending will set the tone for the rest of your retirement. In essence, it’s critical to build new skills during the first two years of your retirement.

Why is that? Because before retirement, you had a set of money habits that may not work within your retirement framework. You’ll need to be intentional about the habits you want to set, as they’ll be your habits for the rest of your life.

If you’re sticking with a nice, safe 3% – 4% withdrawal rate, still doing the things you want to do, being intentional about your decisions and daily behaviors, and you stick to that for the first two years, you’ll find that it’ll become automatic. So wouldn’t it be good to get that right from the get-go, and set yourself up for the decades to come? Until next time, enjoy.


Gary Klaben is in our Glenview, IL office and serves our clients who are now located all over the country. He has over 30 years of experience and is the author of Changing the Conversation, Wealth of Everything and co-author of The Business BattlefieldWhether advising his clients, mentoring his team, or coaching entrepreneurs, he is always simplifying complexity and motivating others to take the next action that’s right for them.

Learn more about TransformingWealth™ , our proprietary approach designed to get your arms around the big picture, so you can make informed financial decisions. Ask Gary about Coyle’s TransformingWealth Preview Meeting and schedule a complimentary consultation and start living the Good Life Managed Well™.
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All information is from sources deemed reliable, but no warranty is made to its accuracy or completeness.   This material is being provided for informational or educational purposes only, and does not take into account the investment objectives or financial situation of any client or prospective client.  The information is not intended as investment advice, and is not a recommendation to buy, sell, or invest in any particular investment or market segment.  Those seeking information regarding their particular investment needs should contact a financial professional.  Coyle, our employees, or our clients, may or may not be invested in any individual securities or market segments discussed in this material.  The opinions expressed were current as of the date of posting, but are subject to change without notice due to market, political, or economic conditions.

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