Financial planning for retirement is always the BIG focus, but Irish Life data highlights that a lack of psychological preparedness is what causes the most intense mental trauma:
“ Irish Life research indicates that nearly three-quarters of people do not plan for the “non-financial” aspects of retirement. This includes figuring out how to spend the extra 2,000 hours per year they will gain”
When I talk to men I know about their incoming retirement, there is a blank stare, a glazing over, as if they can’t really envision what this ‘taking of leave’ will look like. They don’t seem know where to start, they certainly can’t articulate it (and I mean beyond golf, beyond bridge, your whole routine will change every day, 8 hours of it!).
For men whose identities are entirely fused with their careers, the sudden transition can lead to a existential vacuum, possible mental decline as the structure and often roaring cortisol often required for the 9-5pm routine is gone.
Helping to lay down a map with a coach, not goals, but a map on how you will use that wonderful bank of additional hours per annum, is as important as financial planning.
Retirement Planning Is More Than Money: Why Men Need a Map for Life After Work
