Financial Life Planning Tips from Betty-Anne Howard, Athena Wealth and Legacy Planning: Emotional Resilience for Retirement
Emotional Resilience for Retirement
When preparing for retirement, most people focus more on the financial side, especially since leaving the workforce may mean having limited resources.
The first question we get asked is usually “How much income will I need to retire?” followed by, “When can I realistically retire?” This last question refers to more specific figures and when those exact numbers should be met.
Our response to our clients is often, “Well, it depends on what you want to do in retirement!” and this answer is usually greeted with somewhat of a blank expression.
Many of us assume that when the retirement chapter of our life comes, we will be joyfully not working, and we’ll figure out what we will be doing when that time comes. But the truth is, stepping into that new life takes some emotional and psychological preparation.
And it starts with considering how you imagine your new life. What do you want to do in retirement?
We want to ensure you have fun and find purpose in this stage of your life. So, along with your finances, you need to consider what will make you happy and fulfilled while transitioning to retirement. By doing so, you will have a much smoother experience, including making lifestyle decisions, such as downsizing to have more financial freedom and the ability to age at home.
Till next time,
Betty-Anne Howard / Athena Wealth and Legacy Solutions
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