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Guard well within yourself that treasure, kindness. Know how to give without hesitation, how to lose without regret, how to acquire without meanness. Try to keep your soul quivering right up until old age. — Amantine Aurore Lucile Dupin Baronne Dudevant (aka George Sand), French Novelist, 1804-1876.

The population of Marco Island represents a diversity of age groups and demographics. Our island offers wonderful schools and children who fill them, large numbers of professionals and service oriented business persons, medical providers, realtors and last but certainly not least — our share retirees; young and old alike!

Retirement is not defined by age or by a number. If you fall into the last category of retirees, and are relatively new to this chapter of life, there most likely is a transition period. If you forget to switch the alarm clock off on the first morning after you retire, what will you do when it wakes you up? Smile and hit the snooze button? I sure would!

At first, retirement may seem like a vacation — a week or a month or two when you can travel, indulge in your hobbies, walk the beach, golf, go boating and reconnect with your spouse and relatives. If you hit the snooze button, perhaps you’re on the way to making the mental adjustments needed to make the most of your new status.

If, however briefly, you wonder what you can do now that your work is over, you may need some time to adjust to your new status. Suddenly, your time is yours to control, but your lifestyle has changed, too. Yes, regular paychecks disappear, but, more than that, your friends and colleagues are still in their working routines, making business decisions, attending meetings, going to conferences, and interacting with others in myriad ways.

Finally, you’re free of all that. And you miss it. One study reports 13 percent of pre-retirees think social connection loss will be a problem, but 22 percent of actual retirees say it really is.

Don’t miss the moment

However, this is your time — time to realize all those retirement dreams you’ve been investing for over the years. An AARP study says the prime period for healthy retirees is between 65 and 74.

Vigorous, mentally alert, physically capable men and women can climb the 422 steps to the top of Notre Dame in Paris to inspect the flying buttresses and the gargoyles, explore life below the surface and dive the Great Barrier Reef in Australia, or hike among the mountain peaks of The Appalachian Trail.

The happiest retirees report developing a new sense of self by learning, working at something they particularly enjoy and checking off places on their “must-visit” travel list. The key is the advanced planning and mental preparation they made to reorient their lives into a fulfilling retirement mode.

Planning ahead

If you have made the mental and social revisions necessary to live life to the fullest in your early retirement years, you may find this the ideal time to make adjustments to your financial plan as well. Don’t blow it by making the wrong retirement plan distribution choices.

Familiarize yourself with the “lingo” such as lump-sum distribution, qualified funds IRA Rollover, reporting requirements, combined distributions, portability, tax status, RMD’s (required minimum distributions), tax-deferred, loan provisions, plan investment limitations, and non-spouse beneficiaries. I’ve just named a few of the options and requirements that may apply to one of your most important investment decisions.

Since not all of the terms apply to everyone, I’ll spare you the definitions and offer to answer any specific questions individually. It could be time to consider changes that would create more of an income stream and preserve your wealth rather than trying to grow it. A second set of eyes may be what you need to help steer you through these critical choices. As federal and state tax laws are subject to frequent changes, you should consult with a qualified tax advisor prior to making any investment decisions.

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Darcie Guerin is a financial adviser and branch manager at Raymond James & Associates Inc. at 606 Bald Eagle Drive, suite 401, Marco Island. Contact her at Darcie.Guerin@raymondjames.com, 389-1041 or toll-free (866) 343-0882.