Five things you tell yourself . . . that prevent you from properly preparing for retirement
Larry Gard, Ph.D. There is something I’ve noticed when people tell me about their first year of retirement. Occasionally they will mention adjusting to living on a fixed income, but more often it’s the non-financial side of things that occupies their mind. In some instances, they sound pleased. For example, they’re eager to talk about new hobbies, interests, or educational pursuits. In other cases, they’re more negative. They’re feeling unsettled in a new home, unmoored without their former routine, or unsatisfied with how they’re spending their days. The financial services industry has done much to educate Americans about saving for retirement. Sound fiscal preparation is essential, but we also need to prepare ourselves for the head and heart side of this transition. Preparing ourselves psychologically is challenging, in part because unlike financial planning, there is very little “hard” data. Instead, we’re asked to consider subjective factors like beliefs, emotions, values,