Retirement Fears And How To Overcome Them

Published: 11th August 2009
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Many people look forward to retirement most of their working lives. They dream of the day when they can live life on their own terms. Sleeping until noon, fishing on weekdays, tossing the alarm clock in the garbage; thoughts like these seem paradisaical when slaving away in an office or cubical year after year. A funny thing happens to a lot of people though when the long awaited event draws near. Doubts and fears about retirement begin to creep in and suddenly those dreamed of carefree days are clouded with worry about what retirement life will really be like.

It is really pretty common for people to develop fears of retirement. After all it is a huge change of lifestyle after being in the workforce for decades. What are some things that those approaching retirement commonly worry about? Here are a few of them and some advice for alleviating some of the fear.

Money is probably the biggest concern. "Have I saved enough?" "Will my savings and investments last the rest of my life?" "Is my pension safe?"

While no one can predict the future with certainty, one can prepare financially for retirement to the best of one's ability with the help of a retirement planner. A retirement planner looks at each individual's financial picture and lays out a plan of savings and investments suited just for him. The sooner a person starts planning for retirement, the easier it will be on his budget, but it is never too late to start.

Another retirement fear that many people have is that they won't know what to do to pass the time. "Will I be bored?" "Will I miss my job?" "What will I do all day?" For most, this fear will quickly pass as they adjust to their new retired lifestyle. To help ease the adjustment one should develop hobbies and interests before retirement or plan an extended vacation to take upon retirement. That way the first few weeks will be filled with activity and doing things that one enjoys. Another tip is to seek out volunteer opportunities to help stay busy.

Potential retirees may also have fears related to aging such as staying healthy, remaining independent, and being able to keep up their property. The best way to combat this fear is to take steps to protect one's health by eating a healthy diet and getting plenty of exercise. Some may want to downsize their homes or move into a condo so there will no longer be a worry with yard work and home maintenance. Others may enjoy tinkering around the home so this is very much an individual choice.

If applicable, when planning for retirement, include grown children in the discussions and make sure arrangements have been made in advance for when the time comes that one is no longer able to take care of his own affairs. It may not be pleasant to think on such matters but having the retirement years planned out as well as possible in advance will go a long way towards removing the fears and worries associated with retirement.

For help with this process, one can seek out a qualified retirement planner who can offer advice on the financial and legal matters that arise when retirement planning. With everything well thought out in advance, one can face retirement with excitement and feel secure in the knowledge everything is going to be okay.

About Author:

A retirement manager since 1985, Wendy Fisher writes about retirement issues on her website Retirement-Online. Learn ideas to ensure a worry-free and happy retirement.

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