Transitioning to Retirement

Transitioning to Retirement

Transitioning into retirement involves more than just financial planning; it requires major shifts in thinking to embrace this new phase of life.  Generally, retirement is considered to be the long-awaited reward of working hard for many years.  And of course, the unknowns can be challenging.  Here are some bumps in the road you may encounter in your retirement years.

Change:  As we all know, change is constant throughout life. Going from working full time to not working at all is a big change for anyone to process!   Accepting and being open to change can help make the transitions smoother.  A positive mindset can make a big difference.

Balance:  If you are lucky enough to be able to afford not to work, you will likely face the challenge of what to do with those 40 hours you used to spend on the job.  Now is the time to find new passions, hobbies, or volunteer opportunities to make your life full and meaningful.  On the other hand, many choose not to quit working entirely.  If your work life had significant meaning to you, going cold turkey might leave a big need to fill.  Many “retirees” choose to continue working with an adjusted schedule.  What works for you?

Health and Wellness:  As we age our health often becomes a primary focus.  It’s important to remember that our health includes mental health as well as exercise and nutrition. For many their work connections were also their main social activity.  After retirement you may need to make a concerted effort to build new connections.

Financial perspective: Adjusting your financial expectations and habits to fit your new income sources is crucial. You likely have spent your working years focusing on growth.  At Retirement you may need to focus more on income and on enjoying your savings responsibly. Going from accumulation to decumulation requires a shift in thinking.   Creating a budget and living within your means can alleviate financial stress, allowing you to mitigate the fear of spending from savings that is common among retirees.   At Sara-Bay we have technology that allows us to provide you with an overview of your current financial situation and even to look at several possible future scenarios.  By being aware of the new challenges, you may face, and adjusting your mind set accordingly, individuals can navigate retirement with greater resilience, fulfillment, and happiness.

We can help with that!  Consider partnering with Sara-Bay Financial.


The information in this article is a compilation pulled from a variety of sources.  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing.



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