Check your retirement readiness – it's not just about the money

Posted on November 05, 2016 by Gordon Green, One of Thousands of Entrepreneurship Coaches on Noomii.

Many people spend more time planning a two-week vacation than they do their retirement, which today can represent a phase of life lasting 30 or even 40 years.

And while today’s Baby Boomers don’t want their parents’ style of retirement, many are not sure what it is they do want. Dr. Richard Johnson, an internationally recognized expert on the field of retirement living and adult development, says our outdated views of retirement have made depression the #1 malady among new retirees.

“When retirement is not valued as an arena for advancing personal growth, and is viewed only as a rest area, we find ourselves separating from our very selves as we separate from our careers. When retirement is not valued for its growth potential … we give up our vitality as we give up our careers.”

A client of mine told me the story of his father, who retired to a condo in Florida after passing on the family business. The father was having coffee with a former business associate one morning who remarked: “You know what they didn’t tell us about retirement? It’s lonely.”

For some people, the second stage of life just falls into place, but for others it’s a windy path, filled with detours. Here’s a brief checklist of issues you should consider in building your plan for your successful retirement.

In retirement, do you have a plan for:

• Exercising your mind for continued, personal learning?

• Dealing with adult children and grandchildren?

• Changes in income, health and/or lifestyle that may affect your financial security?

• Maintaining your sense of purpose and self-worth?

• How you will purposefully spend your time with fulfilling activities and interests?

• Interaction with others to build and maintain enjoyable relationships?

• Managing family commitments to aging parents, children and grandchildren?

• Where you will reside today? Where you will reside if your health deteriorates?

• Communicating your retirement desires with spouse or significant other? Many of my clients discover after the fact they have conflicting ideas about retirement.

If you answered No to two or more of these questions, you might want to consider consulting a qualified retirement coach.

Gordon Green is a certified Retirement Options coach, with a passion for helping others plan the next stage of their successful lives. He employs scientifically proven assessment tools to provide a roadmap that assists in planning a successful transition into what should be the most rewarding phase of life.