Today’s retirees expect to be much more active than previous generations. And that’s not surprising since individuals now look forward to enjoying two to three decades of life after work, which is great news. One of the important things to consider about retirement is that it shouldn’t be seen as a time when things stop, it should be the start of a new exhilarating experience. Unfortunately in most cases this is next to impossible to achieve unless you have a plan in place. Here at Stability Financial we help our client’s achieve the financial freedom that they desire upon retirement through our detailed fact finding planning process. It is through this process that we are able to identify clients goals and objectives from the outset. With the help of carefully selected financial products we are able to align goals and objectives with current financial situations.

Here are a list of questions that we use with clients and prospective retirees, these questions help individuals think about retirement and what they expect from retirement;

1. When you think about retirement, what does it mean for you?
2. How are you spending your time right now?
3. Are you a spender or a saver?
4. When did you start saving for retirement?
5. How important are retirement savings for you?
6. Do you expect to work in retirement?

I think that individuals and advisor’s can get too caught up in financial products, fund performance, management charges  asset allocation and forget that there is more to retirement than the pot of gold. I recently came across Paddy Stapelton who is a retirement coach and he raised some very valuable approaches to help guide people through retirement. His three part approach breaks retirement into three dimensions; mind, body and spirit.

1. Mental Dimension

Nowadays your retirement career could be as long as your working career with a bit of luck. It is important to maintain a purpose and set clear and reasonable goals, this helps avoid the very real risk of feeling isolated. Paddy recommends undertaking some voluntary work it helps him give something back to society while boosting his self esteem.

2. Physical Dimension

Health is a critical factor at any stage of life but even more so with advancing years. It is critically important to keep on top of medical checks. It is important to have a hobby, a 40 minute early morning walk can really energise you for the day. One of the most interesting aspects of the physical dimension that really caught my attention was the term ‘boundary management’.  You will now need to adjust your previous routine including physical space in the house, sharing of tasks, time spend together and spend apart, pursuing your own hobbies and friendships.  Sharing plans and managing your families expectations is key.

3. Spiritual Dimension

making a difference to people you come in contact with in a real and compassionate manner and particularly helping the less well off is a very gratifying experience. It is important to reflect on how you might be different and better in addition to doing different things. There are many things to consider when identifying your way forward in retirement and maintaining a balance between them is important.

If you would like to meet a member of the Stability Financial retirement team for a free consultation please don’t hesitate to contact us today 01-6349393