Preparing For Retirement Beyond The Finances

When I speak with my clients about preparing for retirement, of course, the conversation involves finances. However, I have found that preparing for retirement goes far beyond planning your finances (although that is a key component!).

Sitting down with new clients some of the questions I ask are:

• What are you planning on doing once you retire?
• What are you most looking forward to in retirement?
• What are you most fearful of about retirement?

Now I ask these questions, and I want both the husband and wife to answer because that gives me insight into not only what I need to look at for the financial side of the planning, but also the emotional and mental side of what my clients will be dealing with during retirement.

You see, I feel that as an advisor, my job is to help people retire safely, securely, but also with excitement and sometimes people need help with that.

I typically see one of four scenarios: Husband and wife both very excited and have grand plans Husband is excited, but the wife is nervous about the change in their life Wife is excited, but the husband is unsure what life will look like Both are unsure what life will look like and are not excited

When one of both spouses aren’t excited about retirement, not sure what life will look like or what they will be doing, I feel it is essential to find out why and see if I can help them with those fears and worries.

This is where the human aspect of retirement planning comes into play; caring enough about your clients to help them look at retirement with great joy, helping them open up their minds to how this new chapter in their life can be exciting and all the new opportunities that are available to them. Helping them navigate through the changes in their lives and being there for them beyond the financial advisory role. This is how I assist my clients, and that gives me great joy.