Is Retirement Coaching for You?
By now, many people are familiar with the relatively new field of life coaching. But retirement coaching is a subset of life coaching that many may not yet have heard of. What exactly is it, and how might it be helpful to you?
There is an abundance of information on financial planning for retirement so many people have come to believe this is the only planning needed prior to retiring. But as people who have retired “unsuccessfully” can tell you, there are many other factors to consider and plan for. That’s where retirement coaching comes in – planning for the non-financial aspects of retirement. What are the non-financial aspects?
Many people considering retirement now wonder if they can afford to retire in complete leisure. They expect to live a long life and many have seen their retirement savings dwindle in the recent economic downturn. They worry whether they have enough money to last for the rest of a long life. They may also wonder what they will do with all their free time after they retire. So work or work- replacement activities are an important consideration as one plans for retirement. People planning to work in some way must then decide whether to simply continue in their current job or in a similar line of work, start a new business or consulting practice, work part-time, or change careers entirely. Retirement coaching includes elements of career coaching to help clients sort out their many options when it comes to working in retirement.
Because social networks and support are so vital to our well-being (mortality rates actually correlate with social support), we pose many questions about this as well. How will your work-related friendships change when you no longer see those people every day? Do you have relatives you’d like to spend more time with? Can you rekindle connections with old friends, or is it time to find a way to make some new friends?
When people think of retirement, they automatically think of leisure. How will you spend your increased leisure time after you retire? What hobbies or interests did you let go of years ago for lack of time that you might want to revisit now?
When you are about to retire and free up some time, committing some of it to maintaining your health and wellness is a very wise investment. Are you currently getting enough sleep and exercise? Are you eating well? What health and wellness goals might you set for yourself that would increase your vitality and quality of life now and in the years ahead?
Family and marital relationships can become a source of stress after retirement if some careful thought and attention are not paid to them in advance. How will your primary relationship, if you are married or partnered, be impacted by retirement? If you are both retiring at the same time or you are joining a spouse who is already retired, how will it be to spend significantly more time together? How much time together or apart will each of you need and want? What expectations do your family members have about what you will do with any extra time you may have, and do those expectations jive with yours?
People contemplating retirement often consider their living environment as they make their plans. Will you continue to live in the same community or relocate to another area? If you plan to relocate, what are the important criteria for the new location? What type of housing is most appealing to you for the next stage of your life?
Personal growth and development is particularly important at this stage of life. Unlike Webster’s definition of retirement, most retirees do not look forward to it as a time to “retreat or withdraw”. Rather, they see it as a time when they can further develop themselves, create the ideal lifestyle, and perhaps give back to others. What are your values and what do you do to express them in your life? How do you want to make a difference in the lives of people you touch? To what causes might you contribute some time and energy? What gives your life meaning now?
As you can see, planning for retirement may be far more complex than you thought. The support, structure, and objectivity of a retirement coach may be just what you need to make the transition to retirement go more smoothly.
By Ellen Good & Anita Collins