What Is Retirement Coaching?

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Many people are now living well into their 80’s and 90’s. Since the age of 65 is the new 40, it’s never too soon to start thinking about retirement.
Is working for the rest of your life a viable option? Should you take your money now and not even worry about retirement? Should you start a business? You have a ton of options.
There are so many variables to consider. Retirement coaches assist you in navigating the process and make the best decisions for you. You see, retirement isn’t something that only happens when you stop working. It starts when you start planning.

Retirement coaching is about way more than just money. It’s about your life. It’s about your dreams. It’s about your legacy. It’s about those things you want to do before you’re no longer here.

It’s about making sure you’re financially, emotionally, and spiritually prepared to do the things you want to do for your family, your community, and your world.

Retirement coaching is what this article is all about. Topics we’ll be discussing are:

  • Identifying What is Important to You
  • Measuring Personal Success
  • Developing a Schedule
  • Planning for Good Health and Accepting Physical Limitations
  • Changing Social Circles
  • Develop a New Relationship with Your Spouse and Other Family Members

Do You Need a Retirement Coach?

A Retirement Coach Can Help You With Many Aspects:

  • Manage your money to make sure you have the income you need for the rest of your life. 
  • They can help you develop and achieve your retirement goals
  • A retirement coach can help you deal with the psychological aspects of retirement.
  • finding a new sense of purpose 

The type of retirement coach you need depends on your needs, your goals, and your personality.

6 Ways a Life Coach Can Improve Your Retirement

Identifying What is Important to You

There’s a lot to think about when you’re planning for retirement. Do you want to travel? Do you want to start a blog? What kind of lifestyle do you want? How will you manage your time? What will it take to enjoy your golden years?

When you set out to reach your goals, it’s easy to get caught up in the action. People often forget about what is important to them. 

Think about it: If you don’t know what’s important to you, how will you know if you’ve reached your goals? You won’t. 

Measuring Personal Success

So many people seem to assume that money is the only way to measure a successful life. We personally think that this is a very narrow and quite frankly, wrong way of looking at the world. 

The truth is that there are plenty of ways to measure a successful life that don’t involve money.

The question of how to measure your own personal success is one that many people struggle with. How can you tell if you’re on the right track? 

It may help to put things into perspective. Take a few minutes to look at where you’ve been and set some goals for where you’re going. This may help you figure out where you are now. 

It can also help you to figure out what it will take to get to where you want to go. 

Developing a Schedule

Many people wonder what their career will look like in retirement. Will they stay home? Will they travel? Will they work as a consultant? Are they even sure? 

Just like in the corporate world, retirement is not about where you work; it’s about the people you work with. Your retirement coach is there to help you discover the people you want to work with. 

They’ll help you establish a schedule, gather information, and plan for your future. You can be on the road one day and at the local hospital the next. Many people never thought about how they would spend their free time, but coaching can help you find out. 

You might discover that volunteering is not for you, but you enjoy learning and sharing your experiences.

Planning for Good Health and Accepting Physical Limitations

A retirement coach’s priority should be to help you to address emotional and physical concerns. We’re talking about things that have blocked you from moving forward with your life. Done right, retirement is an incredibly exciting period of life. 

It offers opportunities for travel, re-discovery, learning new skills, and so much more. A transition to a new “normal”, retirement shouldn’t be viewed as a time to stop planning for the future. This is the time when planning is most important. 

After all, the older we get, the more our health may begin to decline. While it’s never too late to start thinking about your health, it is never too early either.

Changing Social Circles

When you’re in your 50’s or 60’s, you’re often surrounded by people who are retired. At this point, you’re probably going to be at the center of the action at your family get-togethers and big celebrations. 

If you don’t start planning soon, you could be changing the social circles of your family and friends. That’s a risk that can’t be mitigated with your retirement calculator. 

Would you want to see all your aunts and uncles crammed in a room knowing you’ll never see some again? Is your grandpa going to want to talk to your cousins’ grandkids? 

You’ll need to see these people at some point, but you might not want to chat with everyone at once. You might be lonely at retirement, but you don’t have to be.

Develop a New Relationship with Your Spouse and Other Family Members

It’s not always easy to develop a “new” relationship with people you already know. You’ll be shocked to know you’ll need to create a new kind of relationship with your spouse.  You also have to build one with your children. 

For some, this can be really challenging. It could be even more difficult for those whose children are older, but have children of their own. When you’re older, your relationship (and attitude) with your family changes as well. 

You have to listen more, talk less, and respect their feelings. It’s the difference between caregiver and friend. When you’re older, you often aren’t treated as a child and people expect you to behave accordingly. 

With everything going on in your life, that’s why you need a retirement coach.

How Much Is a Retirement Coach Going To Cost Me? Will It Be Worth the Cost?

The cost of hiring a retirement coach will depend on several factors such as:

  • The coach 
  • The type of service you’re looking for
  • How long you’ve been saving for your retirement. 

A fee-only certified retirement coach can be pricier than a 15-minute consultation with a fee-based one. 

But if you’re looking for a comprehensive plan that calls for frequent meetings with your coach, your costs may increase. You may find it difficult to find someone who’s willing to charge you only a flat fee.

Typically, some coaches may have more experience and credentials than others. You can expect to pay anywhere from $100 an hour on up. 

Is It Worth It? Although that question is more personal than not, we’d have to say that it is definitely worth it. The reason being that it’s great to have a second set of eyes viewing your situation as a neutral party. 

How and Where Do You Find a Retirement Coach?

Anyone looking for a retirement coach may ask themselves, “How do I find a qualified retirement coach near me?” The best way to find a seasoned retirement coach is to ask for recommendations.  

You can ask advice from friends, family members, and even health professionals. There are doctors who specialize in working with people who have retired from their jobs.

When Is the Best Time to Look for a Retirement Life Coach?

You should start thinking about getting with a retirement coach no later than two years before retirement. Even if you miss this timeline dont worry. You can literally find a coach at any time you wish. There’s no particular “Best By” date. 

Many retirees even contact a coach well after retirement. If you are serious about making your retirement dreams come true, then stay laser focused on your goals. 

it is often best to find a coach who focuses entirely on providing retirement coaching services to retirees. 

While they may be slightly more expensive than other life coaches, the investment may be well worth your time and money. Retirement coaching can help you avoid making costly mistakes that could otherwise harm your future financial security.

Conclusion

We hope you’ve gotten some real value out of this article. We’ve discussed how retirement is a wonderful time of life. There’s really no limit to what you can accomplish after stopping your nine-to-5 job. But make sure you’re prepared to enter this new era of your life. 

We also discussed the benefits of having a retirement coach and if you really need one. If you’re struggling with your retirement decisions, now’s the time to turn to a retirement coach.

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