You might think this will never happen to you but our experience working with people that transition from a working career to retirement suggests this happens more often than not. You talk about retirement for a long time. You go from the stage in life where you’ve planned everything out and been in total control to what does the future hold. It doesn’t matter how much time and energy you’ve put into this phase of your life. It’s perfectly normal to be confused, excited and a bit overwhelmed all at the same time. After all, you are entering a phase where you have zero experience.
You are relying on others. In fact, it’s much like many things we go through in life. Things like starting our first job, getting married, having your first child, purchasing your first house, etc. Perhaps you rely on friends, family or colleagues that have retired before you for advice. You will soon find that most retirees only talk about the benefits of all the freedom that you have and how everything ahead is positive. This is either because they don’t want to be negative or simply don’t want to share their fears and challenges. It’s no shock then to find out more and more retirees go back to work or start a business each year. So much so that many refer to themselves as retired when they are still working. It might be part-time or seasonal, etc. but it is still working. We refer to these as semi-retired. Those that left their previous employment and now work somewhere else full time or run a business are not retired at all. They just have additional sources of income to complement their new income. This might allow them to do something they really like but couldn’t do previously for financial reasons. So after you figure out where you fit in – then what?
Retirement planning is very personal and for that reason, we recommend working with a Registered Retirement Consultant. Benefit from the experience they can provide as you enter a new phase in your life with confidence. A little planning with a qualified and experienced expert goes a long way to ensure you enjoy your retirement to the fullest.