Things to Consider Before You Retire

By: Anita Collins

Nowadays, many people are familiar with the relatively new field of life coaching. But retirement coaching is a component of life coaching that many may not yet have heard of. What exactly is it, and how might it be helpful to you?

There is an abundance of knowledge on financial planning for retirement so a lot people have come to believe this is the only planning required prior to retiring. But as people who have retired "unsuccessfully" can tell you, there are a number of other aspects to think about and prepare for. That is where retirement coaching helps out planning for the non-financial aspects of retirement. So what are the non financial issues to consider?

Many people planning for retirement now wonder if they can afford to retire in complete leisure. They anticipate a healthy life and many have seen their retirement savings dwindle in the latest recession. They worry whether they have enough money to last for the remainder of their life. They may also be worried what they will do with all their spare time after they retire. So work or work- replacement activities are asignificant consideration as one plans for retirement. People considering work in some way must then decide whether to just proceed in their current job or in a comparable line of work, start a new enterprise or advisory practice, work just a few hours every week, or change careers entirely. Retirement coaching includes elements of career coaching to help clients sort out their many options when it comes to working in retirement.

Because social arrangements and assistance are so critical to our well-being (mortality rates are directly associated with social support), we ask several questions about this as well. How will your work-related friendships change when you no longer see those people every day? Do you have relatives you'd like to spend more time with? Can you rekindle connections with old friends, or is it time to make some new acquaintances?

When people plan to retire, they automatically think of spare time. How will you spend your increased leisure time after you retire? What hobbies or interests did you let go of years ago for lack of time that you might want to revisit now?

When you are planning to retire and relax, committing some of it to maintaining your health and wellness is a very prudent investment. Are you currently getting enough sleep and exercise? Are you eating well? How do you plan to improve the quality of your life?

Family and marital relationships can become a source of strain after retirement if you do not think about it carefully in advance. How will your primary relationship, if you are married or partnered, be impacted by retirement? If both of you are retiring at the same time or you are joining a spouse who is already retired, how will it be to spend significantly more time with each other? How much time together or apart will each of you require and wish for? What expectations do your relatives have about all the free time that you may have, and do those expectations complement what you plan to do?

People contemplating retirement often plan based on their existing situation. Will you continue to live in the same area or move to another community? If you plan to shift, what are the main criteria for the new location? What type of accommodation is most appealing to you for the next stage of your life?

Individual growth and development is predominantly important at this stage of life. Unlike Webster's meaning of retirement, most retirees do not think about it as a time to "retreat or withdraw". Rather, they see it as a time when they can further advance themselves, create the perfect lifestyle, and perhaps give back to others. What are your values and what do you do to state them in your life? How do you want to make a difference in the lives of people you touch? Are there any causes to which you would contribute some time and energy? What gives your life meaning now?

As you can see, planning for retirement may be far more intricate than you thought. The support, structure, and objectivity of a retirement teacher may be the assistance you need to make the transition to retirement go more efficiently.

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Redesigning Retirement specializes in retirement coaching and helping clients with careers in retirement.

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