Your Retirement Transition:
What it is, and why it can be
Your retirement transition is the period of your life when the roles and opportunities you experienced in your “2nd Act” end, and you need to determine how to spend your next phase of life. Now that Act 1 and Act 2 are behind you, what lies ahead for Act 3 and beyond?
New retirees often make a common error: they mistake the joy of being retired with being fulfilled in retirement. After the initial euphoria of, “Yay! I don’t have to go to work today!” wears off, recent retirees often feel an overwhelming and deep sense of loss.
Common concerns during this transition period are:
1) A lack of social interaction
2) A lack of purpose
3) A feeling you’ve reached your peak and are no longer needed
4) A feeling of being disconnected from society
Each person’s process is different. While some people seem to be naturally "good" at being retired, for others to attain a fulfilling retirement requires some deliberate soul searching. It hinges in large part on concepts entirely unrelated to money, though financial planning is a central part of most people’s retirement preparation.
Whether you are five or ten years away from retirement, actively planning for it, or already retired, you would be wise to carefully plan for all aspects of this transition. Statistics show that within two years after retiring, many individuals will encounter issues if they have not clearly defined this new phase of their lives.
Retirement isn't just a major adjustment in work status and financial arrangements. It has reverberations across the most important facets of life: family relationships, leisure, time, living arrangements, staying healthy, and giving back.
Retirement is not like crossing a stationary finish line, where the race is over once you surpass some defined financial threshold.
Instead, creating a Purpose Driven Retirement, much like growing into a fulfilling career, requires modest (and sometimes major) course corrections along the way.
The science of having enough money to live comfortably in retirement is no more important than the art of cultivating an enduring sense of purpose for how to live the rest of one's life.
Don't just retire from your old life.
Retire to your new life.
Through this important transitional time, a retirement coach can serve as a guide, mentor, and cheerleader, providing support, motivation, and accountability. Your coach can help keep you focused from week to week, in taking powerful daily steps toward building your fulfilling, productive and rewarding Encore life. In this transformative process, your coach will support you in completing your life’s work, fulfilling your life’s purpose, and leaving a meaningful legacy.