Those nearing retirement age frequently keep their eyes on savings accounts. Worries about dealing with financial troubles after retiring are normal. Such worries can be somewhat put to rest after saving up a nice nest egg. Worrying exclusively about financial issues can be a mistake though. Retirement brings with it other matters of concern.
Retirement means leaving a job and, possibly, a geographic area. Life can change immensely when this occurs. HCR Wealth Advisors, an investment advisory firm that provides investment advice and services for high net worth clients and others, recently published an article on the subject of the “new retirement.” The “new retirement” refers, in essence, to the necessity to take steps to address various areas of life that change with retirement.
Life does change. A stockbroker who interacted with clients on the phone all day from a New York City office might find quiet retirement living in Florida to be a difficult change. Such changes can affect the identity of someone who leaves a large part of his/her life behind. Depression can sink in for those who find retirement to being highly lacking from their former daily life. HCR Wealth Advisors suggests would-be retirees think about how retirement will impact their lives. The firm’s published article presents insights on how to do just that.
Failure to get ready for the shift in lifestyle that follows retirement creates many of the problems. As retirement looms, it becomes necessary to psychologically prepare yourself for the big change. If not, retirement can lose many of the positives that should come with it.
Easing into retirement could make the full transition less stressful. Perhaps spending weekends doing what you plan on doing during retirement would alleviate certain issues with post-career depression. Simply landing in a new life thanks to retirement may be a bit much when completely not knowing what to expect.
Retirees must embrace the concept of the “new retirement.” Several steps exist to help them do so. Everything from personal development to wellness factor into making a good transition into retirement. HCR Wealth Advisors (@HcrWealth) does try to educate people about finances and retirement. The firm’s published insights on the “new retirement” are consistent with the firm’s goal to educate its clients.
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