How to Manage the Stress of Retirement

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Today’s Question:

Retirement is sometimes considered one of the most stressful things in life. How you handle that stress as you face retirement will make all the difference in your experience.

In The News:

[1:39]The Powerball is at $750 Million

  • Did you know that 27 percent of the population consider the lottery their retirement plan? A lot of lottery winners actually end up being broke. That’s not a retirement plan. Whether you are lucky with the lottery or come into a lot of money, you need to have a plan on how to handle it.

The Confidence Corner:

[5:07]How to Manage Retirement Stress. Psychologists have determined that retirement is one of the most stressful things in life. What are some ways to proactively deal with this process?

[5:29]Understand the Lifestyle Change. Are you worried about spending too much time together with your spouse? That’s a funny question to ask, but it’s a change that may cause stress. No more meetings, no more deadlines to worry about; however, you might have more time on your hands to fill.

[7:34]Embrace The Opportunity. Often people might have time to do things they wanted to do in the past. Maybe you’ll volunteer or pursue some hobbies. But those things can still present challenges or stress, especially if it doesn’t work out the way you thought it would. Life is busy, and activity is good, but you need to find a healthy balance.

[9:51]Keep Your Options Open. Whether it’s traveling, moving somewhere warm, or quitting your job, you may not enjoy retirement as much as you thought you would, so stay flexible. It’s your retirement and you are free to change. My happiest clients enjoy the things that they do. You don’t have to work unless you want to, so enjoy the time that you have.

[11:05]Have A Sense Of Perspective. Thinking about retirement, it hasn’t been around for more than 100 years. We all want to retire and experience a freedom from what we were able to save. Spend the time you have with friends and family. About two million baby boomers have passed on before retirement age, so if you are lucky enough to have a retirement try to enjoy it.

[13:53]Find A Good Advisor. Advisors do manage portfolios and investments, but the majority of their time is spent making sure the uncertainty in life does not cause devastation to a retirement plan. Surprisingly, most people think all I do is crunch numbers, but really it’s all about building relationships and helping people make good decisions.

A Point Of Wisdom:

Additional Resources:

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Your Guide:

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