Why Hire A Retirement Coach?
Retirement is one of the biggest transitions you will ever experience. And many people just can’t do it. They either find it difficult to retire or stay retired. Why? Many have not taken the steps to plan for the non-financial aspects of retirement.
There are many financial planners who are effective in helping future retirees plan their financial readiness for this stage. And the common belief is that once we no longer have to work again, life will be grand! Until it isn’t. The first few weeks, even months are great and then what? Boredom, isolation and a lack of motivation takes over.
In addition, many find themselves entrapped by their own beliefs about getting older. They are flooded with the memories of their aging parents and grandparents, fearing the same for themselves.
The truth is, most folks don’t feel ready to slow down. Well, guess what…. You don’t have to! In this generation, people are living vibrant lives well beyond the traditional retirement ages of 65 and 70. This is the phase of life where you have the greatest control over your time, talents and resources. And for many, this is a time that may last for 20-30 years - as long as many careers!
For some this can be very exciting. For others, this can be overwhelming and scary. Either way, a retirement coach can step in as your partner as you navigate this major life change. Consider how a retirement coach could help you with these specific aspects of retirement:
Identify What is Important to You (Sense of Purpose)
This is your chance. This may be your last chance. This may be the only chance you have in your entire life to spend your time entirely the way you want to spend it. What is important to you? What is the legacy you want to leave? What will motivate you to get out of bed each day if you don’t need to report to a job? You have a whole world of opportunities for how to spend your time and energy! A retirement coach can help you identify what your sense of purpose will be that will cause you to leave a legacy you are proud of.
2. Redefine Yourself (Your Status)
During your career, you may have measured personal success by pay, title, or feedback from bosses and coworkers. In retirement, there are no such gauges. And, for some people, it can be really difficult to lose those guideposts. In fact, depression is a common side effect of retirement for just this reason.
Success means something different to everyone. Maybe it’s continuing to work at a job you love on your own schedule. Or perhaps you would like to pursue a new vocation. This might be the opportunity where you can devote your energies to a cause that is near and dear to your heart. Maybe you would like to define this stage by strengthening your relationships with family and friends or learning and doing new things. Or maybe you want to spend more time on a hobby, travelling, or exploring spiritual growth. A retirement life coach can help you pinpoint what matters most to you and help you learn to define and measure personal success based on a different set of gauges.
3. Develop a Schedule
People tend to dive into retirement in one of two ways.
Some schedule their days to the hilt, filling their calendar with recreation, travel, classes, and volunteer work. This is great fun until the endless recreation and activity just becomes too tiring.
Others take a go-with-the-flow approach, waking up when they want and doing what they want when they want. But many find themselves mindlessly watching TV while days pass without meaning or memories.
The key is to create routines and a schedule that gives you a reason to get going each day, but not with so much rigidity that you’re left feeling burnt out. It’s not about filling your day in with endless activities. It’s about filling your day up with what is meaningful for you. A retirement life coach can help you create a daily routine that involves getting out of the house, meeting new people, and learning new things. Creating healthy routines in retirement can help you stay productive, recover lost enthusiasm, and increase your feelings of happiness and well-being.
4. Changing Social Circles
Working adults often spend a good portion of their workday interacting with coworkers and colleagues. Sometimes the friendships built at work last a lifetime, but sometimes retirement can unexpectedly bring an end to workplace friendships, especially if those friends are still working.
Other aspects of retirement can change your social circles. Neighborhood friends may be lost when old neighbors move away, and younger neighbors move in. Some friends may be dealing with illness or become a caregiver to someone else leaving them with little time or energy for friendships.
If you find yourself missing close friendships in retirement, it is possible to make new friends or reinvigorate old relationships, but it requires facing fears and taking a chance reaching out to others. A retirement coach can help you address these fears, deal with conflict, and recognize unhealthy relationships.
Your social network may be one of the most important aspects of retirement well-being. Therefore, it is worth nurturing.
5. Develop a New Relationship with Your Spouse and Other Family Members
Divorce in retirement has become much more common than it was just a couple decades ago, and it can take a devastating financial and emotional toll. In retirement, many couples simply find that they no longer have anything in common, and with people living longer after normal retirement age, they don’t want to spend the next 20 to 30 years with someone to whom they no longer feel connected. Relationship coaching may be able to help retirees make progress in their relationship to avoid divorce. Unlike relationship therapy, which often focuses on the past and “what went wrong,” relationship coaching focuses on building toward something better, and it can be effective even if only one spouse participates. Even if you are staying with your spouse, relationships change in retirement. You may also find that relationships with your children and grandchildren change in retirement. You will find yourself needing to make more conscious choices about how much time you want to spend with various family members now that you have fewer constraints on your schedule.
How Much Does a Retirement Coach Cost? Is It Worth It?
Of course, one of the first questions you may have about hiring a life coach is what it will cost. While rates can vary widely based on location and specialization, according to lifecoach.com, most life coaches charge between $100 and $300 per hour.
That’s not a small investment, but it is cheaper and perhaps more effective than a therapist or consultant and how can you really put a price on making the most of your time and focus. You may have a happy and productive retirement without coaching, but if you feel stuck or find there is a gap between where you are and where you want to be, a retirement life coach can help you get clear about the kind of retirement you want and help you get there faster.
So How About That Retirement Coach
Retirement coaching involves the more personal side of retirement planning that uses social science, experience and research to help people develop a holistic plan for their future. A retirement coach can be your advocate and resource for a vibrant lifestyle.
If you would like more information on retirement coaching, consider contacting Successful Shifts to explore how we can help.