In life, there are three resources we have to make the most of: time, energy, and money. These three things are like a three-legged stool; you need them all to function and compensate for each other. Otherwise, things start going sideways.
I’m speaking in generalities, as some people are outliers. But for most of us, in our younger years, we have plenty of time and energy, but not much money. We start with our whole life ahead of us at 18, 19, or 20. If you think of it on a graph, the time and energy bars are high, while money is low. Energy isn’t just physical movement; it’s health, positive attitude, and the drive to get up and go.
So we start out trading what we have: our time and energy. We get a job or go to university, vocational school, or the military. This lets us boost the money part of the graph. Then we enter our 30s to mid-50s, what we’ll call middle age. Now the graph looks more even. If you’ve been responsible, your income is higher, though you have a bit less time. If you’ve maintained your health, your energy is still good enough to get out, try new things, and explore interests. The graph is more even now because you also have more money.
This phase has an umbrella of responsibility, especially if you’re married. A lot of your time is spent working for your family and spending time with your wife and kids. The time for your own hobbies is small. Your energy is also spread out, taking effort to do things for your family. This is the general picture for the middle of our lives.
What I want to focus on is the third phase of life, where the graph goes the opposite direction. The
time bar has taken a hit. In your 60s and 70s, you have less time on that graph than you did at 20 or 40. Your energy has also come down. In your youth, you had vibrancy and could stay out late, push your limits, and recuperate with a nap. Now, post-55 or 60, your energy is declining. I’ve noticed that the vast majority of expats let themselves go. It’s almost a stereotype: the heavy-set, balding guy who hasn’t cared for his health. His energy, vibrancy, and verve have all taken a hit. He has less time and energy but more money, hopefully, if he was responsible with savings or a pension.
The outliers still exist. Some enter their retirement years unprepared, having lived for the day with a one-day millionaire mindset. They spent money on bigger trucks, TVs, and houses, pushing their budget. Now their energy is too low for hard labor, and they’re left with only social security and no savings. This is common, especially if they went through multiple divorces, losing houses and paying child support. I’ve seen it firsthand; it ages men, depletes finances, and causes stress.
This is a general overview. We start with energy and time, not much money. We progress to an apex where everything evens out. Then we enter the third phase with less time and energy, but if responsible, a pile of money. As I pondered this, I asked myself: What’s the goal in this third phase? When young, it’s to make money. In the second, it’s to manage everything efficiently. So what’s the goal in retirement, when time is short, and your body can’t do what it used to? You’ll prefer running errands, napping, and cooking dinner over adventurous activities.
The conclusion I keep coming back to, after pondering it for two years as I enter this phase, is to prepare a nest. I want to be as comfortable as possible with a comfortable home, financial position, and peace with family and friends. Comfort is the goal. While I still enjoy dining out and traveling, my focus is on planning for when I’m 70, 75, or 80, so I’m not scrambling last-minute for a suitable, easy-to-enter home.
Thinking ahead, I want a single-level home, not a multi-story with stairs I can’t climb when my bones ache. Maybe one flight to a roof patio for watching sunsets. The time to prepare is now, not when your knees give out at 85. As an expat, owning a home technically requires a wife you can trust. Otherwise, a condo might work for a committed bachelor with no kids, offering amenities like a gym and pool. I don’t recommend building on leased land, as you could lose your home if the lease ends.
In this third phase, the focus should be on planning for comfort: a suitable home, lifestyle, good relationships, and needed finances. These are high priorities as we get older and our bodies get wonky. My 92-year-old mother and late grandmother both told me it’s no fun growing old. It’s smart to plan so you’re not uncomfortable in your 80s or 90s, in a loud place with poor AC. When older, you can’t easily hike to the store or ride a motorbike. Start thinking now about which island to settle on and what amenities you need, like hospitals and grocery stores.
There’s a big difference between being actively retired at 75 and crossing into elderly. We become fragile, and a simple fall could mean a broken hip. When you reach that point, you want everything set up for a comfortable life, not just with your home but with a network of people. I’ve seen sad reports of foreigners dying alone in their apartments, unnoticed for days. Maintaining connections with friends, family, and using the internet to stay in touch is crucial. Attending to these areas now ensures a comfortable life both now and in the future.
