The Great Unwinding - Preparing for Retirement

I know most of you are decades away from retirement, but retirement is a topic that has me fired up.

Recently, I sat down with a couple friends that are high up in a retail company and I asked them, “what do you want to do after your big job?”

Funny enough, one had a plan full of dreams (including teaching and owning an ice cream truck!) and the other hadn’t really thought of it.

Why is it that our culture emphasizes saving for retirement, but nothing else? Saving well gets you roughly 50% of the way to a happy retirement, but what else should we be considering?

If you're a high-flyer at work, chances are you've got more in common with elite athletes than you'd think. Elite athletes put everything into their training and performance, and when they retire, it is a huge adjustment. In fact, anxiety and depression symptoms have shown to be worse and more common post-retirement, with rates being as high as 39% in former athletes.1

So, of course it’s important to sock away retirement savings in your prime, but there is more to the gam

e.

As a coach, I will never assume to have all the answers for you (that’s your job!), but there are some key areas that require time investment throughout life to make sure you are prepared for different chapters.

The other 50% of retirement prep? That's the social side of the story.

A recent survey in The Globe and Mail asked retirees about their biggest wins and regrets. You'd think it's all about the money, right? Wrong!

When asked about their biggest regrets, finances were less than 50% of the topics selected.

• 20% felt they did not work hard enough on their connections with friends, family and community before retirement

• 10%+ regretted not thinking more about how they would fill their days when retired

Some key quotes on regret really stuck with me:

• “Not focusing on my personal health when younger and using my busy job as an excuse”

• “Worked hard and many hours at being successful at work not enough about things for myself”

• “Not planning enough for life before retirement because work was so busy and sucked all my energy”

Although you may have years until retirement, there are many lessons you can learn from those that came before you. I encourage you to be open to the wisdom. Think about how disentangling yourself from work and building connections to family and community could make for a stronger foundation now and in the future.

For a start, next time you do a financial review for retirement, take a moment to check-in on your life purpose and dreams to make sure you’re heading in the right direction. Life's about the journey, not just the destination—so start dreaming, don't wait!"

If you’re not sure where to start on your plans, feel free to book a free discovery session with me. A coach can be an excellent resource as you work through your life’s purpose and values.

✨ Coach Sara ✨

1 Frontiers in Psychology