from the Desk of Brian Bickett, CFP®
The Emotional Side of Retirement…
When I first began walking alongside clients thru the retirement process, I was surprised how the transition from full-time employment effected them psychologically. Time and time again I saw first-hand how much of an individual’s identity is tied to what they do for work. A relate-able example of this is to simply look at one of the first questions asked upon meeting someone new: “So, what do you do for a living?”
Once this source of identity is removed, not to mention the sense of purpose, the daily structure and the social network associated with it, many can find themselves unhappily listing along without direction – not enjoying retirement.
It is because of my experience walking with others thru their retirement journey that the retirement planning process I now use with clients devotes a significant amount of focus on what life will look like after the actual retirement date. Having a plan in place to fill the voids left by no longer working full-time is of utmost importance. And, like most plans, it will change over time as your experiences change you.
Yes, the financial side of retirement planning remains the focus: retirement income planning, Social Security claiming options and timing, pension elections and timing, health and life insurance planning, long-term care considerations and estate planning all need to be managed with respect to each other. Just don’t forget that all this focus on finances shouldn’t take your eyes off of the prize – living your ideal life.
Enjoy the ride of YOUR life!
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This article explores the psychological effects of retirement and offers an emotional glide-path to walk pre-retirees thru the retirement transition curve.
Triumph is taking a little different approach to their electric motorcycle development by partnering with a sister company of the Williams Formula 1 team and Integral Powertrain who supplied the motors for the Pikes Peak record-holding VW ID R race car.
Wondering if we’ll see spring or just simply jump straight to summer…
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