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Retirement Fail: Most People Forget to Plan for This

Retirement Fail: Most People Forget to Plan for This

February 11, 2021

When it comes to retirement planning, most people focus on their finances; planning for healthcare costs, living expenses, and having some fun along the way is what we’re all told will make a successful retirement.

However – and this might surprise you, coming from a financial advisor – that’s just a piece of it.

Retirement planning isn’t just about the money – it’s also about being a retiree and the adjustment that goes along with it. Many people focus on the freedom that comes with retirement and are surprised at some of the emotional aspects of no longer working a 9 to 5 job:

  • Loss of identity
  • Difficulty filling time
  • Struggling to find purpose

And I’ve seen it. I’ve seen people “fail” at retirement because, while they planned financially, they didn’t truly think about what retirement meant. It’s tough to go from working 40-60 hours a week to zero and even though someone no longer wants to make work their focus…they still have a lot to give.


Phasing into Retirement

Some of my most successful retirees have gradually dialed it back – working 4 days a week, then 3, then 2.  This has allowed them not only to catch their breath, but they’re also able to gradually transition into their next stage of life.  Many spend time volunteering, traveling, helping out with the grandkids -  they’re able to fill the hours of their day with activities that give them meaning and purpose.


This Takes Some Preparation

Those successful retirees have also given a lot of thought to how they want to spend their time. Rather than just a vague “I want to travel when I retire,” they’ve actually created a plan that will keep them busy and fulfilled. And that planning started long before they began the next chapter.

Here are some important questions to ask yourself:

  • What refreshes me?
  • What gives me energy?
  • Who gives me energy? 
  • Where do I want to go?
  • What do I want to learn?
  • What impact do I want to make?
  • Where will I go for social interaction?

When we plan meaningful activities we have more energy; conversely, when we spend our days not doing what’s really important to us we might become resentful of where we are.


Need Some Help?

Did you know that there are coaches out there that help with the personal aspects of retirement? Much like a life coach, they specifically help you find your focus and create a plan.

Now, before you dismiss it, think about this: retirement is one of the biggest life transitions you will ever have. Just like starting a family or building a career, it should take extra planning. “A retirement coach can help you decide how and with whom you want to spend (your retirement). They can also help you create a plan for the mental, social, physical, and spiritual changes that take place in retirement.” (

While I’m always here to answer your financial questions, I’m also dedicated to helping my clients create a meaningful retirement. So, my advice is this: Construct your future, construct your retirement based on doing that which will bring you the most energy moving forward.

And let me know how I can help. (CLICK HERE to make an appointment.)