The issue of living one's dream is a frequent discussion with clients. I always ask: What do you want to be when you grow up? This question always elicits a chuckle. The reality is, though, we are always growing up. Our lives, experiences and dreams shift and evolve. I've held countless meetings with clients over the years and the discussions on this topic have been everywhere from rich and detailed to panic-stricken.

I remember one such conversation vividly. My client, a successful businessman in his early 60's was disgusted with his job and ready to turn in his retirement papers THAT DAY! A little voice inside his head had stopped him from doing so, urging him instead to come and see me.

"Michael, I am sick of it-I can't take it anymore! Here are my pension papers. Is there enough for me to retire?"

Without even looking down at the papers, I move them aside. A look of astonishment replaces his frustrated countenance, as he watches me banish the pile. Before he can protest, I ask,

"So tell me. What are you going to do with your time when you retire?"

His expression of astonishment quickly melts into one of bewilderment. He opens his mouth but nothing comes out. This happens a few times. I sit patiently, letting the silence inspire his ruminations. Finally, he shakes his head.

"I have no idea." He mutters.

"Well then, maybe this isn't the best time for you to retire-at least, not until you've taken the time to consider what your life might look like after you've turned in your employee ID card. Before making a decision like this, you need to take the time to think about how you will spend your days, weeks, months and years. Frankly, I cannot imagine you sitting home and watching TV, seven days a week. You're way too vital for that! The time to do your planning is before your retire. Sit with your wife and start mapping out possibilities. I expect you will need six to nine months to do this thoroughly. Once you've mapped out your thoughts, we can discuss the financial ramifications of your decisions. Then, we'll know the next step."

I've been watching his face as I speak. The bewilderment morphs into horror, then curiosity. When I mention six to nine months he looks briefly nauseous but can't help but nod his head at my final comments. Our meeting ends, and I walk him to the door and stick my hand out to shake his, he puts his arms around me and gives me a great big hug. "Thank you so much Michael. This was the most important meeting I've ever experienced!"

Six months later, we reconvene. He has a new stack of papers to put before me. Excitement has replaced his impatient frustration.

"I can't believe how quickly the time has gone once I really started to map out my next steps! Shirley and I put together a list of all the things we want to do in retirement; some of them have financial implications, while others don't. Some of the items on the list include becoming more politically active, volunteering in a literacy program and exploring many neighborhoods in New York City. I remember, as a kid, wanting to be politically active. I read so many books about political figures in our history, but I never had the time to actually get involved. We are very excited about this next chapter in our lives. Now, are we ready for you to review our financial wherewithal and let us know if I can turn in my retirement papers?"

It was my turn to smile. "Sounds fantastic! Pass over those papers now, please."

What does it take to live one's dream? Try answering these questions for yourself:

1. What did I always want to do or explore?
2. Is my financial and physical health conducive to achieving this goal?
3. What do I need to change, learn or consider to make my dream a reality?

It takes time, energy and focus to envision your next phase of life. I have met clients who shrug when first asked about what their life will look like after their working days are over. I keep asking, and by the time one can actually "smell" the retirement date, their attention is laser focused.

Regardless of when you expect to transition out of your primary career, taking time to think about the possibilities is an important and meaningful investment in your time and energy. The cost of not making that investment is inevitably regret-with a side order of panic. Creating a life beyond your current work-life can be a fulfilling, exciting and reality shifting experience. What would you do if you could do anything? What is your vision for the ideal retirement? If it's too late to play first base for the Yankees, maybe it's time to write that book.