Common Obstacles for Retirement
When thinking about retirement, many of us imagine days of leisure and activities such as catching up on hobbies. What I’ve found for a lot of my clients and retired friends, is that there are often obstacles standing between them and their vision for retirement.
The more you can anticipate and plan ahead for obstacles, the easier time you’ll have in retirement. Even if you’re pulled in lots of different directions, it’s worthwhile to set aside time to consider what could get in the way of your retirement dreams.
Common obstacles that I help my clients plan for in advance include:
Relationships
Talk with your spouse, life partner, and/or business partner to ensure your vision for the future is aligned. Communicate and negotiate early and often so that everyone’s needs can be met. The few years ahead of retirement is also an ideal time for connecting with old friends and former colleagues and rebuilding those relationships, so you have a social network in place before retirement.
Health
Physical and mental health are two of the keys to a long and happy retirement. If your health has been on the decline, what changes can you start making now? Simple changes such as starting to walk more, or gradually changing your diet, can pay big dividends for health and wellness. Consider working with professionals such as a personal trainer or a life coach or therapist if you need support in this area.
Location
If you dream of living somewhere else, start taking small steps toward the move. If you want to move to a new state, try out the new location with an extended stay, because what you experience on vacation may not feel the same as you’re meeting people in the community, going to the grocery store, and managing everyday life. If you want to move away or downsize to a smaller home, it can be easier to clean out your house gradually over time.
Work
If you want some form of work in retirement, imagine what that looks like day-to-day. The options today are virtually endless, from starting a business, consulting in your field or a different industry, or a part-time gig just to keep active and social. No matter what you choose, the few years before retirement are a good time for taking classes or connecting with mentors and making plans for your second act.
Money
Money is often the biggest consideration in a retirement plan and the earlier you can make adjustments, the better. Review whether you are on target for your goals or need to save more. It may be worthwhile to have a checkup with a fee-only financial planner to ensure you’re on track.
Retirement planning involves much more than dollars and cents. Having a solid but flexible plan, and addressing potential obstacles in advance, can lead to a more satisfying, meaningful, and enjoyable retirement. If you’d like help overcoming any obstacles in the way of your ideal retirement, connect with me here for a free, no-obligation call.