Retirement’s Most Scary Question!

While the “scariest” retirement question depends on who you ask, the most common ultimate fear is: “Will I run out of money before I run out of time?”

Because life expectancy is rising, retirees face significant anxiety about longevity risk, inflation, and long-term healthcare costs.

However, many retirees and retirement experts note that the emotional and identity questions can be just as terrifying once the money is figured out:

“Who am I without my job?” Many people struggle with losing the status, title, and structure of their careers.

“What am I going to do today?” The sudden lack of daily purpose or community can lead to profound boredom and loneliness.

As a retirement coach, I advise my clients is to build their own realistic and well-rounded vision of retirement. This should include imaging their new role (how you see yourself in retirement), creating a balanced leisure lifestyle (how you spend your time) and a place to live (where you spend your time).

In general, couples should complete this exercise separately, then compare visions.

I emphasize the trick to a happy retirement, financially speaking, is not to concentrate on amassing an abnormal amount of wealth but to determine how much money will make you feel secure. In other words, how much money will you need to live and fulfill your visualized retirement lifestyle.

In a practical sense, how you spend your retirement time will determine how much money you’ll need.

Of course, to fully prepare for retirement, you will require a health and wellbeing strategy, identifying your legacy, reevaluating relationships, determining how to have fun, increasing your self-assertiveness, building your bucket list, and more. All areas I can assist you in.

If you are 45 to older, it’s time to explore your future as a retiree.

For assistance, contact me,
Rick Atkinson (Mister Retirement)
RA Retirement Advisors