15th May 2018
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Who knew that there are dozens of retirement coaches?
Author: Janelle Ward
I think I need a retirement coach

My husband is semi-retired. I continue to work – because I want to but also for financial reasons. Every second financial advice column I read says the longer you continue to work, the better off you will be.

But … I have a problem.

I’ve worked for 40 years. I can’t imagine not working. What do you do all day when you are retired? How do you get your head around the concept of retiring?

I decided there needed to be retirement coaches to guide us into the ‘third stage of life’ as it is coined. And lo and behold, they exist. Who knew?

This is what I have gleaned so far from retirement coaches.

1. Developing a plan for the non-financial side of retirement can be as important as preparing financially.
Okay, develop a plan, that makes sense. We’re attempting to get the financial side of things in some sort of order. So next, my brain. Hubby is cruising. Not literally.

Unconventional Wisdom says that most people spend more time planning for a holiday than for their retirement. “It’s important to think about all the other aspects of life that are impacted by retirement. Where to find purpose and meaning? How to handle changing relationships with family and friends, or the desire for personal development and growth?”

2. The key questions you should ask yourself
Peter Black, one of 26 certified retirement coaches in Australia, suggests pre-retirees ask themselves the following questions:

  • what will people say about you at your 60th/70th/80th/90th birthday party or ultimately at your funeral?
  • how will you replace the inherent benefits your business/career/job provides: identity, purpose, socialisation?
  • what are the "components" that make up your life today and how much time is spent on each one?
  • how will you replace the purpose and social contact that your adult kids and grandchildren provide now?
  • how realistic is it to travel, fish, garden, play golf and so on, 12 months of the year –  for 10/20/30+ years?
  • how dependent are your plans on the good health of you and your partner?
  • is volunteering/community work an option?
  • have you considered returning to university (traditional, online or University of the Third Age) and undertaking a course that may maintain your knowledge, skills, relevance (and brain!) for 10+ years?
  • is retirement what you really want?

3. Anxiety and depression in the transition period is relatively common.
I can believe that. I’m sort of depressed thinking about it.

“Retirement can be quite difficult, particularly for people who self-identify with their career,” says Unconventional Wisdom. “Finding the next path can be incredibly challenging.

“Part of the secret to a successful retirement is having the insight, tools and resources to renew and re-create yourself. A meaningful retirement requires a lifestyle that meets your life goals, well-being and happiness. That’s what a retirement coach does.”

That makes sense. I can get started on those suggestions/ideas. Next, I came across an article on Forbes.com headlined “The problem with retirement coaching”. I decided I needed to read that.

Author Robert Laura is another who says “retirement coaching and developing a plan for the non-financial aspects of retirement dwarfs the need to prepare financially”.

He warns that individuals and couples who don’t plan for the mental, social, physical and spiritual aspects of retirement can be faced with:

  • wasting the first few, and most valuable, years of retirement trying to figure out who they are now
  • wondering why retirement doesn’t look or feel like they thought it would, questioning their decision to retire, dwelling on the past, and worrying what they could have done better or different
  • struggling to replace the things they thought they would be doing but can’t because their back, neck, hip or knee pain is more intensive and limiting than they expected
  • feeling robbed or cheated because the loss of a spouse or family member, divorce, or medical diagnosis is destroying everything they worked for
  • cracking that beer, bottle of wine or cocktail at noon or earlier because, when no one calls or stops by, it’s the only thing that cheers them up and helps them through the day.

So all that is food for thought – while I’m not at work. I hope my hubby continues to stay patient while he waits me for to ‘mature’ enough to one day join him.

Does retirement worry you? Have you had problems adjusting? What advice can you offer?

Financial disclaimer: All content on the YourLifeChoices' website is of a general nature and has been prepared without taking into account your objectives, financial situation or needs. It has been prepared with due care, but no guarantees are provided for ongoing accuracy or relevance. Before making a decision based on this information, you should consider its appropriateness with regard to your circumstances. You should seek professional advice from a financial planner, lawyer or tax agent in relation to any aspects that affect your financial and legal circumstances. Financial comments provided by readers cannot be relied on as professional advice, but as general comments only.

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    COMMENTS

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    Magnolia
    24th May 2018
    12:48pm
    It certainly asks all the right questions - but what are the right answers??? I am facing a relocating into another state - leaving a job of 30 years - no debt - own my own home and car - have a moderate super and in Nov can transition to the pension - I want to work - getting a job I know will not be as easy as some are assuming - "Yeah you you'll be right - you'll get a job!" - me I am a pessimist - do not assume anything.. but an easier life outside of Sydney and the rat race - my one aim is to get healthier - get back to dancing, join social groups - even volunteer for one day a week to make me realise my fortunate life. Oh I know it is going to be hard, but for the back end of my life beyond my 65 years, I want to have enjoyment and no stress...Who knows how long we have left - but with what we do - enjoy it!!
    JB
    24th May 2018
    1:22pm
    I would not say you were pessimistic at all . You have your goal to get healthier with change of lifestyle. You will succeed I am very sure . And at least you are giving it a go !!!!
    CoogeeGuy
    24th May 2018
    1:16pm
    Well Janelle! I don’t know about you maturing enough. But instead of considering yourself, perhaps you should be considering both you, and heaven forbid, your husband. These are the years you have the opportunity of spending some quality life together whilst you can. It should be all about the both of you, and not you alone. Just some food for thought
    Magnolia
    24th May 2018
    1:32pm
    I must agree with you - when there are two of you it is about the two of you - I am on my own so my goals and outlook is very different. But whilst Janelle still may like to work, she should consider her husband in terms of his realisation that he is retired and to not "abandon" him because she wants to work.. part time work is a feasible compromise - as one of the life coaches noted:
    •struggling to replace the things they thought they would be doing but can’t because their back, neck, hip or knee pain is more intensive and limiting than they expected - this can happen at any time - so make the most of the healthy time you have together and be together!
    Sundays
    24th May 2018
    2:11pm
    Janelle, you should continue to work if you want, but do consider the impact on your husband who may become lonely, or depressed on his own. Maybe you should think what you both want from retirement. You’re not the same at 70 as you are at 60 and the time flies past
    Old Geezer
    24th May 2018
    2:46pm
    I need a coach to find me some more time to do more retiring each week. Where can I find one?
    Cheezil61
    24th May 2018
    2:57pm
    Shouldn't just be about finances but it is ALWAYS what controls us..can't do the things (mentioned) or what we want I without sufficient money to do it as well as pay the bills/basic cost of living . This will aways be a major stress for me - working or not working...no mun no fun!!
    Hasbeen
    24th May 2018
    3:00pm
    I don't know how I ever found time to go to work.

    After 15 years in retirement the list of things I need to do, like home maintenance just keeps growing, no matter how much I get done.

    The list of things I want to do at least once, doesn't get any shorter, no matter how many things I do.

    The list of things I can still do is growing slowly shorter.

    One thing I am sure of, the first 2 lists will never run out.
    Old Geezer
    24th May 2018
    3:07pm
    I have the same problem I need more time for the things on my list too.
    Cheezil61
    24th May 2018
    7:18pm
    Still working & have same problem, never enough hours in the days off, just never enough funds to pay for what needs doing. I doubt I'll be getting bored without my job to go to. 60 cannot come quick enough (hoping to not be doing shift work by then at least)
    stekmer
    24th May 2018
    4:11pm
    For me, retirement is still a work in progress.
    I hadn't fully appreciated all the things that work provided - the non financial benefits, like team work, conversations, relevance, validity, social contacts, purpose and structure.

    For the first 9 months I bought every cheap airfare I could find and was away from home more often than there for about a 6 month period. Then the novelty wore off - the pull factors for overseas travel were still there but the push factors had gone.

    I participated in a trial program - Mindset For Later Life - 2 x 2 1/2 hr workshops and found it very useful.

    I'm now starting as a joint presenter for the program, as its rolled out in SA.

    Atchley claims there are 6 stages of retirement - summary here http://retirementjourneys.com/2015/07/the-6-stages-of-retirement/
    johnp
    28th May 2018
    2:29pm
    Hi Stekmer;
    where would I find these : trial program - Mindset For Later Life - 2 x 2 1/2 hr workshops
    and how much do they cost
    ??
    stekmer
    28th May 2018
    3:18pm
    Hi johnp,
    They are free and being hosted by some local Councils in SA.
    The Port Adelaide / Enfield Councils have been actively involved in developing and hosting sessions.

    It might be worth contacting your local Council to enquire.
    TACSI in Adelaide have been behind the development.
    ozrog
    24th May 2018
    6:06pm
    Coach is that a new word for financial advisor. Hmmm the bad rap they got at the Royal Commission they've had to re invent themselves.
    Cheezil61
    24th May 2018
    7:21pm
    Haha yer wondered the same & guessing they charge as much or more than a financial advisor as well
    JW
    24th May 2018
    9:56pm
    What awesome comments and suggestions. It’s a learning curve and there’s a lot to learn from the advice offered. Heartfelt thanks.
    beverlyadams0081
    22nd Jun 2018
    5:52pm
    My name is Beverly Adams from United States, I'm here to share my testimony about Dr. Edward Arabba who helped me to cure my HERPES (HSV), i want to inform the public how i was cured from (HERPES SIMPLEX VIRUS) , i visited different hospital but they gave me list of drugs like Famvir, Valtrex and Zovirax which is very expensive to treat the symptoms and never cured me. 8 months ago a friend suggested that I should try herbal medicine; from a very powerful herbal doctor called Dr. Edward Arabba that he has been seeing series of testimonies talking about this herbal man. There were lot of people posting their testimonies about how he cured them. when i contacted him, he requested for some information about me and i gave him. He sent me the medication i took it for 7 days and it seriously worked for me, when i went for check up after I finished taking the medication. my HERPES result just came out negative. My doctor was shocked how i got cured. I am so happy as i am sharing this testimony. My advice to you all who thinks that their is no cure for herpes that is not true just contact him and get cure from Dr. Edward Arabba, he can cure any kinds of STD. Remember your health is your wealth. You can contact him with via this email:
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    beverlyadams0081
    22nd Jun 2018
    6:13pm
    My name is Beverly Adams from United States, I'm here to share my testimony about Dr. Edward Arabba who helped me to cure my HERPES (HSV), i want to inform the public how i was cured from (HERPES SIMPLEX VIRUS) , i visited different hospital but they gave me list of drugs like Famvir, Valtrex and Zovirax which is very expensive to treat the symptoms and never cured me. 8 months ago a friend suggested that I should try herbal medicine; from a very powerful herbal doctor called Dr. Edward Arabba that he has been seeing series of testimonies talking about this herbal man. There were lot of people posting their testimonies about how he cured them. when i contacted him, he requested for some information about me and i gave him. He sent me the medication i took it for 7 days and it seriously worked for me, when i went for check up after I finished taking the medication. my HERPES result just came out negative. My doctor was shocked how i got cured. I am so happy as i am sharing this testimony. My advice to you all who thinks that their is no cure for herpes that is not true just contact him and get cure from Dr. Edward Arabba, he can cure any kinds of STD. Remember your health is your wealth. You can contact him with via this email:
    dredwardarabbatemple@gmail.com
    Mobile Number:+27833153741
    Whatsapp No: +27833153741
    He can also help in the following problems HEPATITIS, CANCER, HIV/AIDS, ZIKA VIRUS, UNABLE TO GET PREGNANT, IMPOTENT, WEAK ERECTION, TINNITUS [RINGING EAR.]


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