Two weeks ago, our lives changed….drastically! Like you, I had plans in place that had to be scrubbed, or at least delayed. There aren’t many people who are unaffected by the current pandemic. But, today, let’s talk about those of you who are looking toward retirement in the not-to-distant-future. Sure, there are most likely adjustments to be made. Where do you turn for guidance? The first and obvious place is your financial advisor. The second place is less obvious, but equally available to assist during this turbulent time. As a certified retirement coach, I work with individuals looking ahead to retirement but faced with concerns or obstacles. I can only imagine what someone who was just 6 months from retirement is going through right now, watching stocks tumble and job security uncertain.
There are two distinct people I worry about today. One is, as mentioned, the person who has done everything right and was on the road to retire in the next 6-12 months. Where do those plans stand now? How is the pandemic impacting not only your financial status, but family, housing, social? Retiring is a HUGE change in your life. You are no longer heading to an office every day, socializing with colleagues, engaging in challenging ways. How are you going to replace that? This is a question many of my clients ask. Our work together answers that question for most. With coronavirus, that secure retirement may be at risk. Not only because of finances, but what about your spouse, your parents, your children? If this quarantine continues, how will you socialize? What about healthcare? How might this be impacted? And how do you decide whether to proceed with retirement, or develop an alternate plan?
The second group of people I worry about are those who may have recently lost their jobs with this new reality. For those who are in their late 50s or older, getting a new job can be a challenge. Are you wondering if you should just retire now? If you’ve saved and have an adequate nest egg, maybe this is something to consider. I’ve worked with many laid off people over the years, and it’s not unusual for someone to decide to retire rather than attempt to reenter the workplace.
Both groups have questions. How will I fill my time? I don’t want to just sit around. How do I do something to contribute? Like many of my colleagues, I believe we need a new definition for retirement, because the majority of people continue to work in some way. They start a business, go into a line of work that follows their passion, work a part-time job, or volunteer.
But, where do you turn for help? That’s what I, and my fellow retirement coaches, do. We help you assess the various issues to consider, identify those that require some attention, and work to answer the questions you have such that you can move ahead, confident with your decision. My process begins with an assessment that you complete in privacy by answering various questions about both your vision of retirement and the factors in your life that are related. The assessment is the starting point for our coaching sessions. We walk through any of the factors that appear to be of concern and discuss them. Each following coaching session moves you forward, discussing each factor and seeking solutions to your question. The end goal – you have a plan for your retirement beyond the finances! You may decide to make the move now, or you may decide to delay for some period of time. The important thing is, you’ve got a plan that you’re confident about.
If you are interested in learning more about my retirement coaching services, I invite you to reach out to me at email@example.com, 206.658.7919, or schedule a complimentary 15 minute call HERE.
Andrea's passion is to see you achieve your professional dreams. Whether you are a corporate leader seeking leadership development for your employees or an individual seeking guidance in building your career or preparing for retirement, she will coach you to success.