The retirement planning process is uncomfortable. Find out why it’s uncomfortable, and discover what you can do assuage your angst.
(Click the featured times below to jump forward in the episode)
Here Are Just A Handful Of Things You’ll Learn:
2:07 – Why Is It Uncomfortable?
- Budgeting makes the planning process uncomfortable. If you’ve never had to worry about a budget before, you might be in for a bit of tough love when it comes time to retire. Some folks have had their monthly paycheck take care of any financial needs or shortfalls. Now, they’re retiring, and that monthly paycheck is going away. The thought of spending down your assets can also make you uncomfortable. You’ve spent your entire life accumulating. Of course it’s an odd feeling now to consider spending rather than saving.
4:00 – Retirement Is Psychological.
- We found an article in Psychology Today that examines the psychological effects your retirement has on your mind. It asks four questions to help you think through what your retirement will look like and whether you’re ready to retire.
- 7:08 – Do you enjoy your job? Does it provide a sense of purpose in your life?
- 9:06 – If your job is stressful, is it retirement you seek or a career change?
- 9:38 – Does your job provide critical social needs in your life? Are most of your friends work associates?
- 10:28 – Are you prepared psychologically to retire? Do you have a plan? Have you realistically considered what your life will look like as a retiree?
12:42 – Can Retirement Cause Depression?
- We found another article from US News And World Report. It examines whether retirement can actually lead to depression. The premise of the article is that without a plan for retirement, it can. A sound retirement financial and lifestyle plan will go a long way toward calming your angst and anger. A plan provides you with purpose as well as direction for your day-to-day activity in retirement.
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