How do we handle financial stress in retirement? Let’s talk through ways we can proactively deal with the stress that comes with retirement.
Click on the timestamps below to jump to specific topics.
How do we deal with financial stress? As we near the holidays and the end of the year, you may be facing all kinds of different stressors. Holidays can be full of joy and excitement, but also a bit of stress.
Believe it or not, psychologists have categorized retirement as one of the top ten most stressful events in your life. It’s a major transition going from work every day to a new routine and income in retirement. How can we proactively deal with the stress?
You won’t have to get up by a certain time every day or have deadlines to meet. Instead of co-worker drama, you’re now with your spouse 8-10 more hours a day. This can be a stressful transition as you both learn new daily routines together.
This could be a good opportunity to embrace new challenges. You need to know what you’ll do with your time in retirement, and that leads to a lot of new opportunities. Do you want to play golf every day? Volunteer with a nonprofit? Spend your days with grandkids? Take on a part-time job? This is a new chapter in your life to define.
It’s important to keep your options open. Your life will change from 60 to 70 and 70 to 80. Retirement is not necessarily one big vacation. There’s still a lot of time to improve yourself or help others. You might think you want retirement to be all about one thing but then after a few years discover that you want to do something different.
Having perspective is important. Enjoy the life you have and realize that not everyone gets this opportunity. There will surely be things that don’t go as planned or health issues that are difficult to deal with but have a good outlook on what you have.
Finally, it can be so beneficial to work with a financial advisor. Find one you like to work with who can help you reduce stress when it comes to making financial decisions. They can help you see how unexpected events will impact your plan and keep things under control.
Listen to the entire episode or skip ahead using the timestamps below to see how you can best handle the stress that comes with retirement.
0:52 – Thanksgiving and Christmas is coming!
2:51 – What are the ten most stressful events in your life?
3:51 – How can we proactively deal with the stress?
7:07 – Embrace some new challenges.
9:02 – Keep your options open.
12:24 – Keep a sense of perspective.
14:33 – Work with a qualified professional.
A Point Of Wisdom:
There’s tons of opportunities for things that you can do throughout your life. Most people don’t want to sit on the couch.
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