It’s fairly common for discussions of retirement planning to focus solely on the financials. Few individuals take the time to consider the nonfinancial concerns. Indeed, when retirees report being dissatisfied with their retirement experience, the disappointment is often focused on lifestyle changes and diminishing self-esteem created by a lack of direction and a loss of feeling productive.
Slow and Steady Wins the Race.
One possible solution is to transition into retirement slowly. Many individuals who are about to retire welcome the idea of continuing to engage in some form of work, whether consulting, job-sharing, mentoring, or, for business owners, providing back-up management. A phased retirement can help provide an “anchor” that allows you to explore new activities while continuing to maintain a meaningful role.
From a psychological standpoint, some individuals find that separating from their job, profession, or business is a more emotionally wrenching experience than they expected. For hard-working business owners, executives, and professionals, it could take as long as five years to detach from the heavy personal investment they had in their work.
Past, Present, and Future.
Perspective is the key to enjoying your later years. While “retirement” suggests the “end” of your working life, another viewpoint can allow you to see retirement as the “beginning” of a new phase of life—a phase in which you can do all the things you never seemed to find the time for while you were working. For instance, volunteer work can enhance your sense of contributing, while taking courses in areas of interest can challenge your intellectual curiosity.
During your working years, it is common to take your lifestyle for granted. After retirement, with more time available for contemplation you can consider the importance of your various activities. Depending on individual circumstances, you may wish to reorder your priorities. You may find that you just don’t need to do some of the things that seemed so important when you were working.
This transition can be an exciting and enjoyable process. Your horizons are limited only by your imagination. You’ve earned this opportunity—enjoy the journey! While you’re considering the possibilities you’ll want to confirm your financial position to make sure it’s going to fund your lifestyle. Give us a call today! Or, click here to request a no-cost, no-obligation meeting.
Our Custom Retirement Paycheck Plan shows how to protect your retirement from the risks of unexpected market swings, tax changes, and health care expenses using a mathematically tested strategy to create lifetime income allowing you to stop worrying about outliving your money and get on with enjoying the rest of your life.
Let us show you in black and white a custom retirement income plan that is comprehensive, individualized and based on strategies that balance growth with downside protection. Get your Custom Retirement Paycheck Plan now!
Give us a call at our Charlotte office at (704) 248-8549, or our Clemmons office at (336) 391-3409. Or, click here to request a no-cost, no-obligation meeting.
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