More on Retirement Coaching

 A retirement coach is different from a retirement planner. A retirement planner helps you think of your money, and helps you answer questions such as Will there be enough? How should it be allocated? How and when should it be withdrawn? What about Social Security, Medicare and all the rest? These are important questions to consider. Financial advisors specialize in specific, financial-related topics such as creating a financial plan, helping you manage your investments in a way that reflects your age, investment expectations, tolerance for risk and so forth, along with everything from tax preparation, buying a home, wading through the complexities of Social Security, Medicare and more. Such client-advisor relationships can last for years, whereas relationships between retirement coaches and clients tend to deal with non-financial matters and last a shorter time

One of the more important things coaches try to convey to clients is that a happy and healthy retirement isn’t all about the money. People can retire with plenty of money, but if they don’t have a quality-of-life experience, they will be unhappy.

The problem is that many people who work want to have an easy answer to the question, what do you do, as for many their career is their identity. Even when you’re retired some people are still conditioned to answer in the past tense, as in “I was a firefighter, or I was a teacher. For many what they did still defines them.

The focus on work and career is often so all-encompassing, so overwhelming, that it can lead to problems when workers finally do step away: a loss of self-worth, alcoholism, health issues, divorce (so-called “gray divorces” are soaring), and, for retirees on their own, isolation, a health issue in and of itself.

Transitions are stressful and can cause anxiety,” There is no ideal time to start planning the transition, but starting early gives you more time to think and reflect, which can make the inevitable transition smoother and less stressful.

One of the ways to ease the transition is to reduce your work week. Today there are massive labour shortages in the United States and Canada. This translates into worker leverage over employers. Because of the shortage older workers are now desired for their skills, maturity and institutional knowledge. It’s a good time for anyone, say, 55 or older to have a conversation with the boss about transitioning away from work. Chances are pretty good that if you want to work say, three days a week, or remotely from your cabin by the lake, you’ll find a receptive ear.

The key to having a good transition is to get older workers to think about the next stage in life. What’s that going to look like? What’s your plan? How will you get there? Retirement is a huge part of your life. A deliberate, thoughtful approach, with an independent, qualified coach who can work with you in confidence and guide you along as you find your way is a process that can play out over many months, perhaps even years as you age, and your situation and desires change.

Think about your future needs. Consider things like climate, being close to family, and accessibility (such as a first-floor primary bedroom or minimal stairs) when moving to a new home

A good retirement coach generally can cost between $100 and $300 per hour. How to find one? The normal rules apply here: Ask for references and check them. It also wouldn’t hurt to ask for a sample session either before signing on for anything more extensive. You want to be comfortable with and trusting of, whoever you decide to work with.