Mar 16, 2018
Be aware of the stresses that happen when you retire and when
you're about to retire and learn methods to cope or prevent these
Main Questions Asked:
- Are you prepared for lifestyle changes after retirement?
- Do you have new challenges and opportunities to fill your
- Are you making decisions that could box you in?
Key Lessons Learned:
Stresses in Retirement
- Understand the lifestyle changes that come with retirement.
When people retire their lifestyle slows down and they are no
longer on the clock. There's no one telling you what to do. There's
no office drama. You might get less stuff done in a day. Removing
so many things from your life can create a vacuum, and it may be
difficult to go through these changes.
- Embrace the opportunity to face new challenges. When you
retire, you might take on new fitness challenges and get more
involved in your grandkids life. Find challenges that keep you
engaged and active. Also, create opportunities to relax.
- Keep your options open. Don't nail yourself into a certain
stream of income, or something that you can't change. Sometimes
people move to Florida and then want to move back home. There is no
shame in changing directions.
- Do I need life insurance to make sure my wife is okay after I'm
gone? You can find out if you need life insurance with our
retirement income plan.
- I have an old rental property that I would like to sell, but
I'm worried about taxes. Should I sell it anyway? This depends on
your situation and your assets and cash flow. Take into account
your true cash flow after expenses and taxes. You need an analysis
for this important decision.
- I consider myself a conservative investor. Should I loosen up
and take more risk? I would be cautious about taking more risk at
this time without a full financial plan. You need to understand
your tolerance for risk and have a plan for your retirement.
Links To Resources Mentioned
Money Map Retirement Review
Thank you for listening!