By the Sun Life team
Now that your finances are solid, you’re almost ready to retire. But what the hell will you do? That’s the question.
Do you know the most significant surprise new retirees have when they finally quit their job? “All in all, seven days of fishing or golfing is more fun in theory than in practice,” says Eileen Chadnick, professional counselor and director at Big Cheese Coaching. She and I discussed the value of a pension plan that doesn’t just consider financial matters.
“After the honeymoon period following the start of retirement, a life focused exclusively on leisure ceases to be relaxing, says Ms. Chadnick. If your day-to-day life is all about rest and has no stress or challenges, you will suffer from a serious imbalance. You have to find a certain balance, or you will get bored. People who don’t have a plan – even who don’t have activities or ways to express all the facets of their personality – have a bad time in retirement.”
Ms. Chadnick recommends that her clients start thinking about their retirement plan soon after their 40th birthday. If you have passed this step, start now! It’s essential to start early if you’re going to do something different in retirement than what you’re doing now. For some, retirement is an opportunity to embark on a new career. If this career requires training, build it into your plan.
Don’t delay planning your retirement.
“How will you transition into retirement? You need to think about it and prepare for other possibilities, adds Ms. Chadnik. In my opinion, people expect too much, and it is often too late when they start.
