Retirement is not just about getting a good house or being relocated to a senior care home. There are sometimes psychological issues involved. There could also be unforeseeable situations that may be impossible to calculate during retirement planning. In a comprehensive article from HCR Wealth Advisors, it is argued that there are now new challenges to retirement, and it’s something people should at least be aware of, if not prepare for.
The New Retirement
When people retire, the adjustments they have to endure go beyond the physical factors. There could be a lot of drastic intellectual and emotional changes that could put one’s retirement plan in a mess. This is the reason that there should always be a particular focus given to the non-financial aspects of you or your loved one’s retirement plan.
In the New Retirement analysis from HCR Wealth Advisors, there is a particular emphasis given on the transition of the retired individuals from their employment to the lifestyle of being retired. Lack of socialization, lack of regular schedules, and breaking of work routines could pose threats in a retiree’s wellbeing in the form of anxiety or depression. Unless the retirees can set up the right personal development and opportunities to socialize during retirement, their wellbeing could be diminished.
It is also the focus of the New Retirement strategy to let the retirees get a better, more informed set of options during retirement that goes beyond money. With more than 10,000 people retiring every day and increased life expectancy, it is important not to forget to make this a priority. Otherwise, one could be deprived of the best retirement opportunities due to the high and ever-growing number of retiring citizens, as mentioned on their Twitter account.
It is also the stand of HCR Wealth Advisors to remind everyone that before retiring, people should survey the best-registered investment advisory firms in the market that they can trust for their retirement planning. Doing so not only ensures a seamless transition to retirement living but also helps the individuals create better personalized financial strategies that suit their needs.
HCR Wealth Advisors is not affiliated with this website.