Why Many Retirees Feel Anxious (How To Prepare For It)
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- Опубликовано: 6 июн 2024
- ➡️Our financial planning services: www.parallelwealth.com/planning
➡️5 emotional stages of retirement: secondwindmovement.com/retire...
In this video, we'll go through why retirement often triggers anxiety, and some measures you can take to cope with this stressful life transition.
If you have any further questions about this video's topic or any financial planning questions in general, I encourage you to find a certified financial planner in your area or book a consultation with us to get your retirement plan on track. You can learn more about our services at www.parallelwealth.com/planning
Financial Resources I personally recommend:
➡️Retirement Income for Life: Getting More without Saving More (Second Edition): amzn.to/3tvIdVN
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OUTLINE
0:00 - Intro
0:28 - Why Retirement Anxiety Is Prevalent
0:58 - 3 Types of Retirees
3:08 - Retirement Anxiety Causes
5:20 - Easing Retirement Anxiety
7:42 - Considerations At Retirement
9:34 - 5 Emotional Stages of Retirement
This presentation is intended for information purposes only and does not constitute an offer to buy or sell our products or services nor is it intended as investment and/or financial advice on any subject matter. Every effort has been made to ensure the accuracy of its contents. Certain of the statements made may contain forward-looking statements, which involve known and unknown risk, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Returns are not guaranteed and past performance may not be repeated.
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DISCLAIMER: The videos and opinions on this channel are for informational and educational purposes only and do not constitute investment advice. Adam Bornn is not registered to provide investment advice and as such does not provide recommendations - those looking for investment advice should seek out a registered professional. Adam is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment trades.
Three years ago at 63, it was no 3 for me but right away it transitioned into no 1 traveling 5 times a year and $$$ was never an issue. I am still enjoying my life travelling a lot. I am writing this comment from Siouth Africa now.
Lucky you I've always wanted to go to South Africa.
I feel for people who have anxiety 🙃 in retirement. I am so content with my DB pension and minor investments. Your group found money for me that I didn't know existed, thanks. Retired at 57 and am quite content with no fear.
4th Type. Exhausted. Loved what you did, but it has taken its toll on you.
This was me. However I am loving retirement
Three and 1/2 years I ago I semi retired from a stressful job. At 57 I found a part time job I love! This golden opportunity has allowed me to spend more time with my Dad (now 91) who suffers with dementia. Key to retirement is planning! I planned this for 25 years. Absolutely thrilled I was financially stable to execute my plan.
Congratulations. Enjoy
I did the same thing so I could spend time with Mother.
I told my boss that I'm practicing for retirement at this moment. I'm not sure he knows how to take that.
I really appreciate your videos and advice. Thank you
Thanks for watching!
Such excellent advice, explained so very well! Thank you Adam and the PW team!
Our pleasure!
My wife is 7 years younger which is a common age gap in my world. Retirement planning and decumulation examples tend to put the couples close in age. I am now 71 staring at the end of my “Go Go Years” and she hasn’t even started. I know your software handles these scenarios but I think you should do a show on how your clients have, and should handle a 7 to 10 year age gap. How do you ladder income? Frank Vettese’s book says you should have a reserve fund until around 78. I assume that is my 85 and her 78. How would you advocate for a younger spouse whose older partner is making all decisions based on his age? Love your show.
No one in my family has had a DB plan. That is partly where the fear of running out of money comes from. I often joke we need psychic financial planners so we know how long we will live and how our health is.
You're right on with phases of retirement. I'm in year 8 of retirement and going into the reorientation phase. Great videos!
Good to hear, and all the best with that stage!
I recently retired after two months. I’d watched some of your videos. This one echoes the most of my current situation. I feel like you were talking directly to me. Thank you!
Directly to you Felix! Enjoy retirement:)
I don't see anything wrong with having a retirement plan drafted early in one's working life. Even if all that comes from it is a pay yourself first mindset and more thoughtful spending, you'd be ahead of almost everyone else.
Bingo..you hit it all on the head.
Thank you Jason for this video.
Not sure who Jason is, but will let Adam know!
My plan would only show how I actually don’t have enough
Sadly the anxiety is taking its toll now, not retired yet, still working, (don't want to) but have had long periods of time off work as a pre-retirement scenario. Not enough money coming in when off work. And when i do retire, my assets are far below a comfortable retirement. The expenses/ income (cpp, oas, rrsp tsfa) will not hold me long in the near future. No Go-Go phase, can't afford to go anywhere or spend much. So I am in the middle box. In the Anxiety/Depression phase. Hasn't happened yet but it's coming. Damn it Wanda!😟
At 53, I'm going to head back to the UK , Canada is not an option for retirement, it's way to difficult to get by here. My mother is on Pension Credit and with her State Pension she is better off than when she was working. I'll take that please...
I am excited to retire this October. YAY! Free at last, free at last, thank God almighty, free at last!
i might be able to before 35, but I am afraid of losing the working fun part.
Just so people know you can reverse your CPP up to 11 months after you start in case you go back to work or want to bleed some capital gains or RRSP down.
I became a male porn star at 60. Not earning much as I get paid by the hour, however I’m so much happier than I was in my banking job. I’m between the go-go and no go stage.👍🏻
What available retirement calculator do you recommend?
It’s not perfect but there is the Canadian Retirement Income Calculator
Honestly there isn't a good free one on the market.
@@ParallelWealth is there one you would suggest over another? Thank you.
@@murraytown4I recommend the Government retirement calculator as it does tie in nicely to the CCP and OAS options.
@@iana36s I think this message is for another poster. I’ve used the Canadian government retirement income calculator many, many times.
I suppose if you were anxious before retirement you would tend to be anxious in retirement but you would have more time to manage stress and deal with anxiety. I would suggest that if you’re anxious start to manage that now as soon as possible. Breathing exercises can really help.